NEW DELHI: Sounding a note of caution against Prime Minister Narendra Modi's 'Make in India' campaign, RBI governor Raghuram Rajan on Friday said it should not focus only on manufacturing.
"I am...cautioning against picking a particular sector such as manufacturing for encouragement, simply because it has worked well for China. India is different, and developing at a different time, and we should be agnostic about what will work," Rajan said while speaking at the Bharat Ram Memorial Lecture in Ficci.
He further said there is "danger when we discuss Make in India" as something which is focused on manufacturing, "an attempt to follow the export-led growth path that China followed. I don't think such a specific focus is intended".
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