Mausam Kumar on the state of India’s industrial policy

Subtext by Zerodha · Aug 5, 2026 · 1h 37m

We cover:

- Why Tamil Nadu became a magnet for Apple and global manufacturers

- How the PLI scheme differs from India's historical approach to industrial incentives

- The tension between central and state-level policy in shaping manufacturing outcomes

- India's place in a world turning toward economic nationalism and protectionism

- The role of development finance institutions, the India-China dynamic, and green manufacturing

Timestamp:

0:00 Introduction

1:39 India's Industrial Policy in the Global Context

4:19 Centre vs. States: Fiscal Federalism & Industrial Policy

8:13 State Capacity…