Manufacturing: PM has multiple holes to fill before pvt capital rushes in

By the looks of it, Prime Minister Narendra Modi’s manufacturing drive is on the up, with all the trappings of imminent success.
 

Multinational companies and long-term foreign investors like private equity giant Blackstone Inc. have their sights on India. The recently unveiled national budget boosted capital spending by more than expected, adding to the excitement. With a host of subsidies and sweeteners, electronics firms like Apple Inc. and Samsung Electronics Co. are making big commitments to the country.

Yet, a look at the Indian units of long-established multinationals shows how much help the industrial sector will need.

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