Harsh Goenka compares China, India business focus, cites JL MAG: ‘What are we building that world will need tomorrow?’
RPG Enterprises Chairman Harsh Goenka compares India and China's business focus, highlighting China's dominance in future industries like rare earths and robotics. He urges India to shift from consumer goods to crucial sectors that will shape the global economy in the next two decades.
RPG Enterprises Chairman Harsh Goenka has compared China and India's business priorities, focusing on sectors he believes will define the global economy in the next two decades. He highlighted Chinese rare-earth magnet maker JL MAG as a prime example of China's industrial strategy, which includes areas like rare-earth magnets, humanoid robots, and semiconductors.
Goenka emphasized that JL MAG's approach involves controlling raw materials, technology, manufacturing, and the entire ecosystem. In contrast, Goenka pointed out that much of Indian business continues to focus on consumer goods like bottled water and snacks. He also noted that India's software industry has primarily benefited from labor-cost arbitrage.
Goenka urged Indian businesses to consider which industries and technologies could become globally important in the future, emphasizing that China is building the infrastructure of tomorrow.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
