A global trend towards nationalization is emerging, challenging free-market ideologies across Europe and the US. This shift is prompted by private sector failures in public service delivery, the imperative to save jobs, and increasing geopolitical uncertainties. Examples include nationalization efforts for ArcelorMittal in France, Thames Water in the UK, and state support for US rare earth minerals. Despite India's negative past experiences with public sector inefficiency, the author argues against outright rejection, advocating for re-evaluation with improved governance. This evolving nationalization trend, driven by "nation-first" strategies, merits close observation for its potential relevance to India's future economic policymaking.