India’s experience in terms of the increase and peaking of its manufacturing GDP and the subsequent plateau that has been seen for many years has been distinct from that of the rest of the globe. The nation has created dynamism for startups and entrepreneurship and has implemented institutional and public sector changes.
It is essential to establish a competitive economy with lowered informational barriers and the dismantling of asymmetric information circuits, rather than merely a few monopolistic areas.
The provision of public goods, the regulation of externalities, establishing a pro-competition and pro-investment market environment, as well as providing welfare
transfers and empowering every group in every geography, are all important roles that the government must play. The fresh opportunity in front of the nation comes in the form of India’s dynamic comparative advantage in its demographic dividend, it should be noted. In the meantime, the private sector needs to do its part in competing, innovating, and investing.