Govt may extend support measures in FY28 Budget to boost manufacturing of 100 products: Official
The government may announce Budget 2027-28 support measures to boost domestic manufacturing of 100 products, including auto components, chemicals and machinery, to reduce import dependence. DPIIT has identified the products after consultations with ministries and industry.
The Indian government is considering extending support measures in the 2027-28 Budget to bolster domestic manufacturing of 100 products, including intermediates and capital goods across various sectors, according to an official. The Department for Promotion of Industry and Internal Trade (DPIIT) has identified these 100 products after consulting with multiple ministries and the private sector.
The initiative aims to reduce import dependence and strengthen domestic production, which is currently inadequate for some goods. The identified products span sectors like auto components, chemicals, and machinery. The move could involve fiscal and non-fiscal measures, R&D support, trade and tariff measures, and enhancing testing and certification infrastructure.
The Union Budget 2027-28, expected to be presented on February 1, 2028, may include support measures such as production-linked incentive schemes for 14 sectors, PM GatiShakti, and Bharat Audyogik Vikas Yojna. In recent months, India's chemicals imports grew by 10.5% to USD 16.1 billion, driven by increases in dyeing/tanning/colouring materials and machinery imports.
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