CHENNAI: Former Union finance minister P Chidambaram today said the Centre’s ambitious ‘Make in India’ initiative cannot succeed if ‘Skill India’ does not succeed.
‘Skill India’ will, in turn, triumph only when several other parameters, including those related to education and research, were developed “on par with world standards”, he added.
Asked if India was jumping into a service sector-led economy, Chidambaram said that was “inevitable”.
“That is inevitable. If China can make firecrackers which are cheaper and safer than your crackers, Chinese crackers will come to India…That is inevitable,” he said.
Answering questions from IIT-Madras students after delivering a lecture on economic reforms in India, the Congress leader said, “Unless you develop a competitive edge in production, you cannot outcompete the other producers.”
“Why are we becoming a service economy more than an industrial economy? It is because we have acquired a competitive edge in providing services. Therefore, Make in India will succeed only if Skill India succeeds and Skill India will succeed only when your educational standards meet the world’s standards. (AGENCIES)
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