Why we must chase global investors

With the right leadership and policy, Nepal can tag along India’s manufacturing success.

Indian Prime Minister Narendra Modi’s address to Congress during his state visit to the United States this month grabbed as much headlines as his meeting with Tesla CEO Elon Musk. Modi is trying to woo Musk to set up a factory in India. Tesla has manufacturing plants in the US, China and Germany, and is on the hunt for a new location. Modi has competition—France, for instance. Musk has said Tesla will likely finalise a location to set up its India factory by the end of the year. If it comes to pass, this will be a major win for Modi, whose government has held talks with Musk for four years. Import duties, land acquisition and labour rights pose a challenge. But the lure is a 1.4-billion-people market.