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India's $23 billion plan to rival China factories to lapse after it disappoints

  • Congress President Mallikarjun Kharge criticized the BJP, claiming its promise to make India a global manufacturing hub has remained unfulfilled since 2014.
  • The Modi government has decided to let lapse a $23 billion program to incentivize domestic manufacturing after four years, as disclosed by officials.
  • As of October 2024, only $1.73 billion in incentives had been allocated, representing under 8% of the pledged funds, according to government documents.
  • Manufacturing's share in India's economy decreased from 15.4% to 14.3% since the program's introduction.
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24 Articles

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3
Center
2
Right
2
Business LiveBusiness Live
Lean Right

India to lapse $23bn domestic manufacturing plan, sources say

Production of cellphone and pharmaceuticals two bright spots in Delhi’s bid to keep firms out of China

·Johannesburg, South Africa
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ReutersReuters
+4 Reposted by 4 other sources
Center

India's $23 billion plan to rival China factories to lapse after it disappoints

·United Kingdom
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DawnDawn
Lean Left

India’s $23bn plan to rival Chinese firms set to lapse

Some 750 companies sign up to the Production-Linked Initiative scheme, public records show.

·Pakistan
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The HinduThe Hindu
Lean Left

Kharge slams Modi government over ‘Make in India’ scheme’s unfulfilled promises

The BJP govt. has not delivered on the promise to make India a global manufacturing hub, says the Congress chief, citing the state of production and GDP

·India
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South China Morning PostSouth China Morning Post
Center

India had a US$23 billion plan to lure firms away from China. It flopped

The Production-Linked Initiative has failed to produce desired results, dealing a blow to New Delhi’s manufacturing ambitions.

·Hong Kong
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The Straits TimesThe Straits Times
Lean Right

India's $30.7 billion plan to rival China factories to lapse after it disappoints

India issued less than 8 per cent of funds allocated for manufacturing incentives as of Oct 2024.

·Singapore
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  • 43% of the sources lean Left
43% Left
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Zawya broke the news in on Friday, March 21, 2025.
Sources are mostly out of (0)

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