License and ban.

"India needs to focus on the manufacturing sector to achieve sustained growth of 7-7.5 percent until 2030, Chief Economic Advisor V Anantha Nageswaran said." ET. "The share of manufacturing in total gross value added has to increase from 16 percent at present to at least 25 percent of GDP at the expense of agriculture and low value added services," he said. Gross fixed capital formation, which is a marker for investment, must increase from 29% to 35% of GDP. "Over the past two decades, the services sector grew rapidly without a manufacturing boom, unlike other countries where manufacturing growth precedes services. The services sector's contribution to GDP has risen from 45 percent to 55 percent while manufacturing has remained largely stagnant at 15 percent in 2017 and 17 percent in 2022." ET. "India on Thursday (3 August) said it will impose a licensing requirement for imports of laptops, tablets and personal computers with immediate effect, a move that could hit hard the likes of Apple, Dell and Samsung and force them to boost local manufacturing." Reuters. "The government in its notification gave no reason for the move." Apparently this is because of security concerns about hardware imported from China. This after, "iPhone maker Apple...opened its first-ever store in India at Mumbai's Bandra Kurla Complex, underscoring its ambitious drive in the country." "The US company now makes almost 7% of its iPhones in India," and "Apple's suppliers Foxconn, Wistron and Pegatron employ some 60,000 workers in India." TOI. "According to provisional data from the commerce ministry, India's exports to China dipped by 28% to $15.32 billion in 2022-23, while imports rose by 4.16% to $98.51 billion in the last fiscal. The trade gap widened to a record high of $83.2 billion." The Wire. "India's pharmaceutical exports this fiscal year are set to grow nearly twice as fast as last year to hit sales of $27 billion, driven by strong US buying, a government-backed trade body told Reuters, despite deaths linked to Indian-made cough syrups." ET. A report by CareEdge showed that 43% of India's total pharma imports are from China. "The contribution of bulk drug imports from China has exhibited significant growth in both value and volume terms, increasing from 64% and 62% in FY14 to 71% and 75% during FY23, respectively," the report said. "On 20 July, India banned exports of non-basmati white rice in an attempt to calm rising domestic prices at home." BBC. "IMF chief economist Pierre-Olivier Gourinchas reckons the ban would drive up prices and that global grain prices could rise up to 15% this year." "India has a stockpile of an eye-popping 41 million tonnes of rice - more than three times the buffer requirement." The government "could easily distribute to poorer Indians or release into the open market to cool down prices. The fact is, for control-mad bureaucrats in New Delhi, export bans have become the first, not last, response to rising domestic prices," wrote Mihir Sharma. Trade is a two-way process. If you restrict, others also will.