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India Abandons $23 Billion PLI Scheme After Disappointing Results

3/23/2025

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Summary

Story summary

In a surprising move, India's government has scrapped the $23 billion Production-Linked Incentive (PLI) scheme, just four years after its inception. While it saw some triumphs in mobile and pharmaceuticals, the initiative ultimately fell short of production goals, contributing to a drop in manufacturing's economic share from 15.4% to 14.3%.

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Story summary

In a surprising move, India's government has scrapped the $23 billion Production-Linked Incentive (PLI) scheme, just four years after its inception. While it saw some triumphs in mobile and pharmaceuticals, the initiative ultimately fell short of production goals, contributing to a drop in manufacturing's economic share from 15.4% to 14.3%.