Economic Growth
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Unlocking India’s Economic Growth

Panagariya’s comments come at a time when countries like Vietnam and Thailand are reaping the benefits of the China-plus-one strategy.
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India’s Missed Opportunity in the China-Plus-One Strategy: A Wake-Up Call from Arvind Panagariya

Arvind Panagariya, Chairman of the 16th Finance Commission, has highlighted that India’s internal policy limitations are holding back its ability to fully capitalize on the China-plus-one opportunity. Although India offers significant advantages such as a vast domestic market and skilled labor force, restrictive labor and land laws continue to impede the country’s global competitiveness. This blog explores Panagariya’s key recommendations for policy reforms and the steps India must take to position itself as a manufacturing powerhouse in the global supply chain.

India’s Competitive Edge and Unmet Potential

Panagariya’s comments come at a time when countries like Vietnam and Thailand are reaping the benefits of the China-plus-one strategy. However, Panagariya believes India still has a distinct competitive edge over these nations due to its large market size and robust domestic supply chain. Despite these advantages, India continues to struggle with policy issues that prevent multinational corporations from establishing manufacturing bases within the country.

The Role of Labor and Land Reforms

Central to Panagariya’s analysis are India’s labor laws and land acquisition policies. India’s labor laws are often perceived as outdated, making it harder for businesses to adapt to market dynamics. The country’s land acquisition process also remains complex and inefficient, making it difficult for foreign companies to set up manufacturing plants. These policy barriers discourage foreign direct investment, which could otherwise help India become a global manufacturing leader.

The Path to Reform: What India Needs to Do

To make the most of the China-plus-one strategy, Panagariya stresses that India must prioritize labor and land law reforms. Simplifying labor laws to offer greater flexibility and implementing a streamlined land acquisition process will be critical in attracting foreign companies looking to diversify their manufacturing bases.

India Must Act to Stay Competitive

India has the potential to thrive in the global supply chain, but to do so, it must address its internal policy barriers. Arvind Panagariya’s insights serve as a crucial call to action for policy reforms that could unlock India’s manufacturing potential. By taking decisive steps to modernize labor and land laws, India can become a leading destination for multinational corporations.

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