How to Make in India 2.0

India will be served well by comprehensive capital and labour reforms but it is important to sift the necessary from the desirable

There aren’t many silver linings for the economy in the long pause of lockdown. But there may be opportunities for India in the months ahead, particularly in manufacturing, as the world makes an at­tempt to reduce its dependence on a single factory, China. Now is the time to reflect on whether we have the ecosystem to capture any upside. The honest answer is no. The fact is that at least some labour-intensive manufacturing has been exiting China for several years, largely because of rising wages in what is now an upper middle-income country but very little of it has come