What Can India do to Industrialise?

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Salutations, Olio aficionados! 👋

Midweek greetings to all, as we unveil the 175th chapter of Weekly Olio—a delightful concoction of laughter, insight, and a sprinkle of mystery. Within these pages, you'll discover a handpicked selection of fascinating finds from the vast realms of the internet.

Keep your eyes peeled for this week’s Publisher’s Parmesan, arriving this Sunday!

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The Quote󠀢 💭

The Tweet 🐦

India’s electricity trading exchanges are set for a significant transformation with market coupling kicking into action from January 2026. India has three power exchanges but each operates independently creating price arbitrage opportunities. With market coupling, the prices for all three exchanges will be determined by a unified auction leading to better price discovery and higher overall trading volumes. Read the full thread to understand how and why this is happening.

The Infographic 💹

Suddenly, history moves fast and European overseas colonies are gone.

Used by Execs at Google and OpenAI

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The Short Read 📝

The Boring AI Questions That Actually Matter - by Margins by Ranjan Roy and Can Duruk

AI can make people act strangely and ask odd questions. Will it destroy us all? That sounds crazy; no, it won't. Why not just turn it off? Sure, but what if it stops us before we can? That's unlikely. Let's be realistic. Here's a simpler question: Will AI take all our jobs? Probably. Read more…

Big questions are interesting to think about, but the future usually arrives quietly. Sometimes, it's mentioned in a policy document. More often, it appears as a small expense in an IT budget, fixing an issue we weren't aware of.

The Long Read 📜

What can India do to Industrialise - by Prakash Loungani and Karan Bhasin

Noah’s blog often picks up interesting topics on India’s unique economic journey and the associated challenges as it aims to become a middle-income nation. This guest post by Karan Bhasin and Prakash Loungani examines India's industrialization challenges, crucial for over one billion people seeking to escape poverty. Unlike East Asian economies that industrialized before pivoting to services, India achieved success in high-value services while struggling with labor-intensive manufacturing. Despite the 1991 market reforms, manufacturing's share of GDP remained flat at 15-20% while services expanded from 40% to 60%.

The authors identify four key barriers to manufacturing success. First is stringent industrial regulations, particularly around labor, that limit the ability of firms to adjust their workforce based on demand leading to underinvestment. Second is the long drawn and often politically charged process around land acquisitions leading to high costs and unpredictable timelines. Third is the ambivalent approach to international trade making it difficult for business owners to invest in the country. And fourth is the ‘unease’ of doing business - while things have improved but a lot still needs to be done. The authors recommend a "masala mix" approach: letting states treat manufacturing like services by reducing regulatory interference, emphasizing that successful industrialization requires state-level reforms rather than just federal initiatives. Read more…

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That’s all for this week. If you enjoyed this edition, we’d really appreciate if you shared it with a friend, family member or colleague.

We’ll be back in your inbox 2 PM IST next Wednesday. Till then, have a productive week!

Peeyush and Mohit

Disclaimer: The views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author's employer, organization, committee or other group or individual.