Can India Become the Next Factory of the World?

For more than a decade, Prime Minister Narendra Modi has been pursuing one of the most ambitious industrial programs attempted by any modern democracy. The “Make in India” initiative was never simply about creating jobs. It was a strategic effort to transform India from a nation known primarily for services into a manufacturing powerhouse capable of challenging China’s dominance over global supply chains. That ambition deserves far more attention than it receives. When Make in India was launched in 2014, manufacturing represented roughly 16% of India’s economy. The objective was straightforward: attract foreign investment, build domestic industry, expand exports, and create millions of skilled jobs for one of...

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