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India Abandons $23 Billion Scheme, Plans New Investment Model

3/23/2025

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Summary

India Overhauls Incentives

India's government is set to scrap the $23 billion Production-Linked Incentive scheme, which failed to meet its ambitious 25% GDP target by 2025. While the program saw success in pharmaceuticals and mobile production, persistent bureaucratic hurdles stifled wider growth. A fresh investment-linked model is on the horizon to revitalize manufacturing efforts.

Summary

Kharge Critiques Modi

Congress leader Mallikarjun Kharge slammed Prime Minister Modi's "Make in India" initiative, arguing it favors flashy promotions over tangible outcomes. He pointed out a troubling decline in manufacturing jobs and GDP contribution, casting doubt on the $23 billion PLI scheme's success. Kharge also revealed that India's merchandise exports have hit a staggering 50-year low under the current administration.

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India Overhauls Incentives

India's government is set to scrap the $23 billion Production-Linked Incentive scheme, which failed to meet its ambitious 25% GDP target by 2025. While the program saw success in pharmaceuticals and mobile production, persistent bureaucratic hurdles stifled wider growth. A fresh investment-linked model is on the horizon to revitalize manufacturing efforts.

1 / 2