Historical perspective
- Self-reliance in state-run heavy industries and strategic sectors in the decades following independence had placed India ahead of most developing countries.
- In the 1970s and 80s, however, India did not modernise these industries to climb higher up the technological ladder.
- The private sector, which had backed the state-run core sector approach in its Bombay Plan, stayed content with near-monopoly conditions in non-core sectors in a protected market.
- India’s industrial ecosystem was thus characterised by low productivity, poor quality and low technology, and was globally uncompetitive.
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