I’ve been reading quite deeply about India’s economy.
I think it’s unlikely that a significant percentage of manufacturing jobs will “bleed” there, as the author suggests.
India’s infrastructure of roads, clean water, reliable electric power, etc., is currently not up to the job.
The barriers for foreign investment are quite serious.
And, even domestic manufacturers must negotiate a blizzard of paperwork, approvals, and ever changing regulations.
New industrial construction can literally take a decade to complete.
Corruption among low level government employees is ever present.
The currency, the rupee, has been unstable because of trade deficits, Central Bank policies, and ever changing regulations on gold purchases and foreign currency trading.
On the other hand, India’s stock market has performed very well in recent years, and very important nation wide economic reforms have been made over the last 20 years.
Bottom line...
India is still a developing nation, and the time table for that development is not clear.
It sounds like USA to me in so many places!