Yep. Ever notice that you never see ‘Made in India’ on anything at Wal-Mart?
There’s a reason for that.
It is unlawful in India to close an unprofitable factory or to fire a bad worker. This is why India fails miserably compared to China in exports. A foreign investor would be crazy to open a plant in India because of its socialist labor laws.
The exception is that office workers. They are exempt from India’s job-for-life labor laws. That is why India’s exports are all services and brainpower: phone centers, technical support, and software development.
If India fixed its screwed-up labor laws regarding manufacturing it could rival China economically.
“It is unlawful in India to close an unprofitable factory or to fire a bad worker.”
Yeah Thank God US doesn’t have government bailout for unprofitable industries or unionized labor. /s
India is lagging behind China because of lack of infrastructure and tardy bureaucracy then anything else.