You are here: HomeInvestment The dream of becoming a developed nation can be realized only if India becomes a global manufacturing hub: Dr. Shashi Tharoo

The dream of becoming a developed nation can be realized only if India becomes a global manufacturing hub: Dr. Shashi Tharoo

Published in Investment Monday, 13 January 2025 16:03

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Kochi , 13th January 2025 : Congress leader and Member of Parliament Dr. Shashi Tharoor said that India's greatest dream of becoming a developed nation can be realized only by making India a global manufacturing hub. He was speaking at the India Forward Talk Series organized by the Cochin Chamber of Commerce and Industry. India has immense potential to lead the world in manufacturing and innovation. However , the country faces systemic challenges that hinder this. Only by overcoming them can we achieve the dream of becoming a developed nation that India has always dreamed of, he said.

India has the potential , vision and capacity to emerge as a global manufacturing hub, especially as global supply chains look to China for manufacturing hubs. However , stringent labour laws , inadequate infrastructure and lack of skill development have hampered the growth of the sector, he said, adding that this would enable countries like Vietnam and Indonesia to make significant progress in this area.

Kerala: The Indian model of innovation and growth

He said that despite many challenges , Kerala is a model for the country in terms of economic innovation and sustainable development. He praised the state's entrepreneurial spirit and strategic initiatives that have strengthened the growing startup ecosystem.
With strong foundations and forward-looking economic policies , Kerala has emerged as a dynamic hub for startups. This ecosystem has positioned Kerala as a key partner in India's economic transformation, he said.

He said that to increase productivity, it is not about increasing working hours but about improving the quality and efficiency of jobs, as in Denmark. It is a paradox that India has not been able to create enough jobs with all the economic growth it has achieved. About 40% of India's workforce is still linked to agriculture. Agriculture is one of the sectors that is being hit hardest by climate change. Only 20% of India's workforce is currently employed in manufacturing or business services like IT.

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