India doesn’t need to be the world’s factory to grow – here’s why

"Many emerging economies have grown by building factories. India is taking a different route. Already a global leader in services including coding, legal work and telemedicine tradable services now make up nearly 10% of its GDP. To sustain this growth, India must keep investing in healthcare, education and skills, says former central bank governor Raghuram-Rajan. India is forecast to become the world's third-largest economy in the next few years.