PLI: The first stepping stone on India's road to global high table
PLI is designed to identify and support upcoming technologies that are indicative of the largest economic opportunities of the next few decades.
Synopsis
In an increasingly interconnected world, manufacturing has been transformed into a series of dependent processes across countries, which together form large GSCs. With GSCs slowly shifting towards the East, and due to constantly evolving geopolitical dynamics, there's a great chance for India to capture certain segments by leveraging its strengths.
Indian manufacturing has long suffered because of its inability to scale up. India has been slow at adopting new technologies, and often been unable to gain an early mover’s advantage. As much as 70% of its exports are in the traditional segments, for which the world market has shrunk to about 30%. India should, instead, focus on sunrise segments, where there is an ample scope to grow and build a high market share.
India’s manufacturing
BY
Amitabh Kant & Yuvraj Patil
ET CONTRIBUTORS
5 mins read
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