Three-point action plan to realise ‘Make in India’ dream

The non-controversial response lies in improving the business environment by making regulations and taxes less onerous, building infrastructure, reforming labour laws, and enabling connectivity. The next response could be in the form of ‘industrial policy’. This could focus on promoting manufacturing by providing subsidies, lowering the cost of capital, and creating special economic zones (SEZs) for manufacturing activity. This could focus on promoting manufacturing by providing subsidies, lowering the cost of capital, and creating special economic zones (SEZs) for manufacturing activity.

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