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Firing Up Factories

A recent Businessweek article on India highlights the importance of manufacturing in a countries ascent to developed worlds status:

While the dynamic software-services sector has picked up some of the slack, it employs just 2 million people—a speck in a country where 14 million new job seekers enter the market every year. India generates fewer than 1 million new manufacturing jobs annually, but needs to create at least five times that. And to really lift hundreds of millions of people out of poverty, India, like China, must build up labor-intensive export industries such as textiles, toys, and electronics. Many of the new plants are intended to serve India's growing market, but they're also targeting sales overseas.

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