Context: With India now entering into the recovery phase, there is a need to look beyond recovery to rejuvenation, rebuild the confidence and dynamism of corporate India and small enterprises.
Business cycles in India’s post-liberalization era.
Manufacturing growth during these periods: Largely laggard
Ways to transform from laggard to leader in manufacturing
Conclusion: To promote high growth, we need policies to promote export-oriented backward integration and linked development of technological capacity in our manufacturing sector at all levels from large to small and from established companies to start-ups.