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India needs to manufacture at scale, deepen credit to fund investment: NITI Aayog V-C at GFF

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India’s next big economic challenge is not growth but manufacturing at scale, and achieving that will require a sharp increase in investment, deeper credit markets and greater integration with global value chains, NITI Aayog Vice-Chairman Ashok Kumar Lahiri said on Wednesday.While the Indian economy is “doing reasonably well”, Lahiri said the recent rise in manufacturing’s share of GDP is encouraging, but India needs to build manufacturing capacity on a much larger scale. “We need much more manufacturing with scale. When you look at China, the scale is enormous. We do not have that kind of scale and to acquire that,…

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