The Make in India lion has not yet begun to roar. Unveiled by Prime Minister Narendra Modi in September 2014, all the initiative has attracted so far are foreign direct investment (FDI) promises. Modi has been globetrotting; his end of December excursion was, according to the rival Congress Party, “breakfast in Kabul, tea in Lahore (an unscheduled stopover to meet Pakistani Prime Minister Nawaz Sharif) and dinner in Delhi.” That was cheap political sniping, but Modi’s trips to other capitals — Washington, Moscow, Paris — have been far more expensive. Big-budget defense deals were signed in all three places; the high-cost imports seem to negate the Make in India philosophy of promoting domestic manufacturing.... Read More