What past industrial rises actually looked like
South Korea's manufacturing share of GDP crossed 25% within roughly two decades of sustained industrial policy — but it did so alongside an extremely high domestic savings rate and an export discipline that punished underperforming firms rather than protecting them indefinitely.
Japan's postwar rise followed a similar pattern: protection was conditional on export performance, not permanent.[1] That conditionality is the part most often missing from India's version of industrial policy.