Centre Eyes Import Substitution Push to Cut Reliance on China, Boost Manufacturing

Prime Minister Narendra Modi’s government is preparing a fresh push to reduce India’s dependence on imports, with plans to expand domestic manufacturing across key sectors as geopolitical tensions and supply chain disruptions expose vulnerabilities in the economy, Bloomberg reported. According to officials familiar with the matter, the Prime Minister’s Office has directed ministries to identify products where imports can be replaced by locally manufactured alternatives. As per the report, the government is evaluating incentives, including subsidies and production support, to encourage domestic manufacturing, though discussions are still underway and no final decisions have been taken. Over 100 Products Under Review…