Critical
Industrial policy now has broad World Bank approval but the case for universal adoption remains unclear
The World Bank now endorses industrial policy, reversing its prior stance, offering a framework based on government capacity, market size, and fiscal space to assess national feasibility. India scores well. Although industrial policies are globally widespread, the author critically highlights the World Bank's omission: what happens if *all* countries pursue them simultaneously? The article questions whether such universal adoption, unlike past East Asian successes reliant on open global markets, could ironically impede overall global success.
LiveMint · Niranjan Rajadhyaksha · May 5, 2026 at 8:31 AM