With current measures failing to encourage Indian women to join the labor market as skilled workers, the most worrying sign is that the newly released National Policy for Skill Development doesn’t outline any new vision.
While there is no denying that rapid expansion of manufacturing remains the time-tested method for economic growth and job creation, there is evidence that manufacturing volume may not be the best proxy for long-run economic prosperity of a country.
All the world’s successful industrial policies – those that have delivered the best wages, working conditions and opportunities for economic mobility – have made diversification a central aim. Countries like Bangladesh must do the same.
Sabina Dewan spoke to Quartz about Bangladesh’s strategy of attracting investment by keeping regulation lax and wages low in the garments sector.