alt Hacker NewsIndia can grow at 10% but import substitution policy could hurt that, Arvind Panagariya says https://theprint.in/theprint-otc/india-can-grow-at-10-but-im...
India can grow at 10% but import substitution policy could hurt that, Arvind Panagariya says https://theprint.in/theprint-otc/india-can-grow-at-10-but-im...
From the article:
> Even though Make in India is not a classic import substitution case, it aimed to reach that end.
So it's not really import substitution. But let's ignore that article, it's not a serious piece anyway.
A key idea of Make in India is to make and export - which means that unlike socialist-era import substitution (via tariffs and permissions), the ones which aren't good enough will fail fast and cheap. It won't lead to people driving HM Ambassador cars for 40 years.
Whether Make in India will succeed or fail is a very different matter, of course.