THE POLICY EDGE
Opinion

24 September 2025

The Multi-Plant Trap: Rethinking India’s Manufacturing Puzzle

India’s factories look large on paper, but the rise of multi-plants shows fragmentation and the inability to achieve scale is holding back competitiveness

Abhishek Anand is a Visiting Fellow at the Madras Institute of Development Studies. Arvind Subramanian is a Senior Fellow at the Peterson Institute for International Economics. Naveen Joseph Thomas is a Professor at OP Jindal Global University

SDG 8: Decent Work and Economic Growth | SDG 9: Industry, Innovation and Infrastructure

Ministry of Commerce and Industry MoCI | Ministry of Labour and Employment MoLE

The discussion in this article is based on authors’ research published in Journal of Development Economics (Volume 174). Views are personal.

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