Raghuram Rajan, India’s former central bank governor, wrote a piece in February 2022 that said India would do economically better to follow a services-led path than a manufacturing-led one. He argues in the second of a two-part essay that India being a democracy will have a more challenging task of improving infrastructure and providing cheap labor. (my notes)
Saurabh Mukherjea, Chief Investment Officer at Marcellus Investments, wrote and spoke in a Marcellus Webinar that India was undergoing a period of rapid networking in transportation and telecommunications. He argued that this would particularly help in the growth of the services sector which contributes about 50% to the Indian GDP against manufacturing which contributes 25%. (Working Column)
Noah Smith, a former opinion writer at Bloomberg writes in his newsletter, Noahopinion, that new manufacturing jobs would also be increasingly automated. This means that manufacturing jobs would also increasingly be like the tech sector jobs of today. He felt that growth in the services sector needs more development of local services jobs. This needs to be further improved by new labour movements to improve pay and working conditions in the same way that it did so in manufacturing. (Working Column)
Balaji S, in a recent podcast episode with Tim Ferriss, says that the next century would be between the global Indian network and centralized China towards the very end of the episode. So, Network:Services :: Centralized:Manufacturing?
Parallel Spirals 