Here are four ways India is still playing catch-up to its Asian rival, China.Despite Prime Minister Narendra Modi's push to attract foreign direct investments since he took office in 2014, India's manufacturing system still lags behind China.
According to these experts, India doesn't have the interconnectivity of a large ecosystem like in China, where products are built from parts sourced directly in the country. For example, in pre-COVID 2019, China invested about 6.5% of its GDP in infrastructure development, while India invested just 4.5% — something the government is working on boosting, per UBS' May 17 note.
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