Banking Swadeshi: Why India Must Put Factories Before Paper
BG Srinivas India has one of the world’s largest foreign-exchange reserves—about US$734.6 billion as of early October 2026. Yet it cannot reliably manufacture several critical inputs on which its economy depends, from rare-earth magnets to active pharmaceutical ingredients. When China restricted magnet export licences in 2025, Indian electric-vehicle manufacturers faced supply-chain disruptions.
A country with...
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- Section
- Business
- Topics
- Economy & RBI
- First reported by
- Orangenews9
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- newsnow9
- Published
- Wednesday, 14 October 2026, 4:25 am IST
- Coverage
- One outlet so far
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