'Ghar ke sher, global zero': Raghuram Rajan asks why India copies well but fails to lead in innovation like TikTok or Porsche

Raghuram Rajan cautions that India's projected status as the world's third-largest economy will be hollow without innovation. He argues that despite state support, India lacks global product leaders due to risk-averse capitalism and protectionist policies. Rajan urges fostering a competitive environment, boosting research, and reducing bureaucratic hurdles to drive innovation for economic and strategic strength.