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Two key sectors will help drive Indian manufacturing

Friday, December 2, 2022

Significance

The making of mobile phones and specified electronic components was one of the first areas to be covered by the multi-sector Production-Linked Incentive (PLI) scheme, which is designed to attract more investment in local manufacturing. More broadly, India is looking to step up defence-related production.

Impacts

  • Indian manufacturing may be especially appealing to investors seeking a ‘China-plus-one’ formula.
  • Some firms will experience delays in the disbursement of PLIs.
  • FDI inflows may cross USD100bn for the first time in the fiscal year ending March 2023.

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