Reported about 17 hours ago
India's government has decided to let lapse a $23 billion program aimed at boosting domestic manufacturing to compete with China, after four years of underwhelming results. Despite attracting major companies like Foxconn and Reliance, many firms struggled to meet production targets, leading to only 37% of the set goals being achieved. The program's ineffectiveness, compounded by bureaucratic challenges, has raised concerns about India's manufacturing ambitions and potential future strategies for attracting investment.
Source: YAHOO