Yes, this is a call for ‘Make in India 2.0’. The recent announcements reflect a more granular understanding of specific issues like land availability and flexibility of labour. However, availability of skilled labour, efficient tax incentives and reliable electricity supply are few more issues that need to be addressed.
We need to understand what self-reliance means. Do we want Indian companies to make capital investments and start manufacturing activity? Or do we want to attract foreign capital without protection for domestic firms? The former requires far reaching reforms to incentivise domestic firms. The latter can be achieved with PMP-like programmes, but in the long term domestic industry may be decimated. That will not be true realisation of self-reliance because every sector will be dominated by foreign companies.
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