In industry as in services, India has produced world-beaters: in pharmaceuticals, steel (where Tata Steel is the world's lowest-cost producer), in cement and in automotive parts.

ECONOMIST: Few hands make work light

Builders watch out: electricity makes up 8% of the cost of making glass, 15% of cement and 20%-plus of bricks.

ECONOMIST: Industry is unduly upset at tough new limits on emissions

Cement output might not increase, or building of low-cost homes accelerate, simply because the state has majority ownership.

ECONOMIST: Venezuela launches attacks on the private sector

"Maryland might as well mandate that Southwest Airlines flights landing in the state have two tons of cement in their baggage holders, to even out its per-passenger cost with American and other majors, " says George Stalk, a Boston Consulting Group retailing expert.

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