Assembly and intellectual property are often any production chain's lowest and highest value-added parts respectively, said RBI ex-Governor Raghuram Rajan on Ranveer Allahbadia's show while talking about shortcomings of India's manufacturing push. "Apple says, 'Designed in California.' It doesn't say, 'Made in California.' Apple hasn't made anything since 2004. It's all done by Foxconn," he added.