India's ambition to become a manufacturing powerhouse has gained momentum as global companies explore alternatives to China for geopolitical reasons. With the world turning away from China and searching for options to shift their supply chain, India is being viewed as a possible contender. However, India still faces several challenges such as rigid labor laws, complex tax structures, and difficult business regulations which need to be addressed for the country to truly replace China as a leading global manufacturing hub. Speaking at a recent event, he argued that India's reliance on services such as call centres and IT outsourcing allowed it to sidestep the need to compete with China in areas such as manufacturing.
The elegant excuse for India's economy being incompetent.
