Brief by Shorts91 Newsdesk / 11:36am on 21 Mar 2025,Friday International
India's $23 billion incentive program aimed at boosting domestic manufacturing will expire, with no plans for expansion or extended deadlines. Despite participation from major companies like Foxconn and Reliance, the scheme has underperformed, with only 37% of the production target met as of October 2024, and less than 8% of allocated funds disbursed. The program saw growth in mobile-phone and pharmaceutical sectors but faced issues in other industries. While the government plans new alternatives, the manufacturing share of the economy has decreased, from 15.4% to 14.3%.
