Why should the government pick winners instead of letting market competition decide that? In the 1990s, nobody thought that software, autos, and pharma would become India’s three top export sectors. Picking winners would have been an inferior strategy. Even in Asian neighbours, some attempts at picking winners were disasters.
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Sunday, February 14, 2021
Only a few PLI sectors might succeed; most of them risk failure. Swaminathan Aiyar explains why
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