Catch the seven first.

"They're Wall Street's big guns." The shares of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla have risen so high that it has "prompted a Bank of America analyst to dub them 'The Magnificent Seven', a nod to a 1960 Western about a gang of gunslingers led by Steve McQueen, Yul Brynner and Charles Bronson." Reuters. On 30 October, "Alphabet Inc., the parent company of Google, reported stellar third-quarter earnings but also drove the combined market cap of the 'Magnificent Seven' tech giants to an unprecedented $16.8 trillion." Benzinga. To put it in perspective, that is more than five times India's nominal GDP at $3.4 trillion (worldometer). "The slowdown in consumer demand reported by a number of consumer goods companies has been dubbed the 'shrinkage of India's middle class' by Nestle management." Companies have earned "abnormally high profits" by targeting the premium segment. That is because real household income has fallen along with savings, due to "the acute K-shaped post-pandemic recovery is characterised by a thin upper arm and a thick lower arm; a feature officials have denied," wrote Dhananjay Sinha. Prime Minister Narendra Modi announced his 'Make in India' initiative in 2014 with the aim of increasing the growth rate of the manufacturing sector to 12-14% per annum, creating 100 million additional manufacturing jobs and increasing the share of manufacturing to 25% of GDP. wikipedia. However, the growth rate of manufacturing has averaged around 4%, share of manufacturing in GDP has fallen from 18.3% to 14.72% of India's gross value added (GVA) and "Between 2016-17 and 2022-23, the manufacturing sector has lost almost 1 million workers," wrote Prof Christophe Jaffrelot. Make in India has been a barrier to exports. "In 2012-13, exports approached 20% of sales. Last year they dipped below 7%," and "If not for the growth in mobile phone exports, the number would have been even more dire." Because, "New Delhi's priority has been to cut down on imports, not to grow exports, and companies have noticed." "If a government can be lobbied to erect protectionist barriers, that's always the least-cost path to outsize profits for any domestic producer," wrote Mihir Sharma. With tariffs restricting imports, Indian companies are able to sell substandard goods and services to hapless citizens. But you can't sell them abroad. So, "While India has bilateral trade agreements with 14 countries or economic blocs, four of the most substantial ones have gone back to the drawing board, for review or fine-tuning. Even the recent pact with the UAE is undergoing a review at the instance of India, reflecting lack of enough detailing before at least some of these agreements were finalized." FE. "India may take nearly 75 years just to achieve one-fourth of US income per capita, as per a recent World Bank report." TOI. But first, we have to catch the 'Magnificent Seven'. Does not look likely. Does it?