Economic Survey 2024 tells why replacing China in manufacturing isn’t that simple for India

The Economic Survey 2023-2024, released by the Finance Minister, addresses the “Chinese Conundrum.” It notes that India may not easily replace China in global manufacturing, despite India’s rapid growth. The Survey emphasizes China’s dominance in global supply chains and critical minerals, affecting India’s renewable energy. It also points out that import restrictions alone won’t effectively tackle China’s competitive advantage.

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