Celebratory headlines about global electronics manufacturers redirecting their investments from China to India may mask the hard truth that in the long run, the benefits for the country are limited. “Attracting foreign companies to locate electronic assembly operating in India is only a way for these companies to escape high import duties. No real skill creation takes place,” Ajit Balakrishnan points out. He argues here for higher spending on innovation to create world-class companies such as Apple or Google. The second edit offers another critique of the production-linked incentive scheme, and other views look at the new