Speaking at the CII Global Economic Policy Forum 2024, Panagariya ( Chairman of the 16th Finance Commission) emphasized that India could take a page out of developed countries’ playbooks. Selectively embracing Chinese investments could bolster local manufacturing and position India better in the global supply chain. It’s a perspective backed by the Economic Survey 2023-24, which highlighted how increased FDI from China could enhance export potential and help India carve a bigger slice of the international trade pie. Panagariya underlined the importance of safeguarding against investments from “unfriendly countries” that might harm national interests. The approach isn’t about blind acceptance; it’s about striking the right balance.