Factories Doing Worse Than in 1950s | With Aunindyo Chakravarty
India’s factory sector has grown only 3.3% annually over the past five years.
India’s factory sector has grown only 3.3% annually over the past five years. This has happened even though factory output grew by 2.9% in 2020-21 when COVID-19 triggered the lockdowns. This is slower than the rate at which manufacturing grew in the period of Nehruvian ‘socialism’. What is worse is that the factory sector is expected to grow by just 0.6% this year, a contraction of 0.5% in per capita terms.
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