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

·United Kingdom
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Zawya broke the news in on Friday, March 21, 2025.
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