Finance Minister rubbishes RBI Governor criticism of 'Make in India'

Finance Minister Arun Jaitley rejected RBI Governor Raghuram Rajan's criticism of the 'Make in India' programme, saying whether the programme is made for consumers within India or outside is not relevant as the principle today says that consumers across the world prefer to purchase products that are cheaper and of good quality. Jaitley said the manufacturing sector will continue to face challenges unless it transitions itself while keeping the quality and price in mind. Earlier Rajan had sounded a word of caution about the Modi government's 'Make in India' campaign saying it assumes an export led growth path like that of China, but it should rather be a campaign with a focus on manufacturing products for the domestic market. He said India is different and developing at a different time, and India should be agnostic about what will work.