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Lion gets lesson from crouching tiger, slackening dragon

Posted: 15 Jan 2015 ?? ?Print Version ?Bookmark and Share

Keywords:Make in India? macroeconomics? economic progress?

Editor's Note: Apek Mulay shares insights about the Make in India campaign and on how the country can learn from the experiences of China and Ireland to gain long-term economic progress.

Don't be deceived with the title of this blog. We are not going to talk about some Jungle Book story. This story, rather, is about three countries: one of them plans on making investments in semiconductor manufacturing and the others have experienced economic problems with such investments. History teaches us to learn from past mistakes and plan for a better future, but it seems that sometimes businesses ignore important historical facts, setting a course for themselves that ends in disaster.

The Make in India campaign launched by India's Prime Minister, Narendra Modi, to promote native manufacturing will now focus on developing action plans for several key sectors, including automobiles and components, aviation, bio-tech, construction, defence production, electrical machinery, electronics, IT, media and entertainment, food processing, mining, oil and gas, ports, pharmaceutical, railways, and thermal power.

To begin the story, let me introduce you to our three characters: a Lion, a Tiger and a Dragon.

Who is the Lion?

Make in India

Make in India is a lion's step, said Prime Minister Narendra Modi, after launching the logo of his ambitious campaign to attract companies to India. The logo is the silhouette of a lion on the prowl, made entirely of cogs, symbolising manufacturing, strength and national pride. The national emblem of India, Ashok Chakra, also has four lions. In Indian folklore, the lion denotes the attainment of enlightenment, in addition to representing power, courage, pride and confidence.

Who is the Tiger?

Celtic Tiger

Celtic Tiger (Irish: An Togar Ceilteach) refers to the economy of the Republic of Ireland between 1995 and 2000, a period of rapid real economic growth fuelled by foreign direct investment. The Irish economy expanded at an average rate of 9.4 per cent between 1995 and 2000 and continued to grow at an average rate of 5.9 per cent during the following decade until 2008, when it fell into recession.

Who is the Dragon?

Chinese Dragon

Chinese dragons are legendary creatures in Chinese mythology and Chinese folklore. Chinese dragons traditionally symbolise potent and auspicious powers, particularly control over water, rainfall, hurricanes and floods. The dragon is also a symbol of power, strength and good luck for worthy people. With this, the Emperor of China usually used the dragon as a symbol of his imperial power and strength.

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