White Paper 1 : Enhancing India’s Global Value Chain Competitiveness/Phase I Study
The year 2021 celebrates three decades of India’s economic reforms, as the Indian economy opened up its window to foreign investments. India, which for long, had adopted a model ala fabian socialism abandoned its near Soviet-style central economy, embracing liberalization, globalization and increased privatization. A traditional agrarian economy moved to enhanced privatization, as services industry grew in a new burgeoning India. The country, while prioritizing the growth of the services industry, skipped or rather not consolidating on the manufacturing component that made China the manufacturing capital of the world, as China adopted a farm to factory approach.