India is preparing a renewed push to triple its exports by 2035, pivoting towards structural reforms in manufacturing rather than large fiscal outlays, as the government bets that easing regulatory hurdles can succeed where earlier incentive-heavy drives fell short. Those included the flagship “Make in India” campaign launched in 2014 and a $23 billion production-linked incentive package announced in 2020. This model replaces the pre-budget fiscal packages that characterised earlier manufacturing schemes, the officials said. It will oversee the building of manufacturing hubs for the 15 sectors, and work with state governments to assure steady and cheap electricity supplies for such units, the sources said. Manufacturing hubs have been identified based on existing infrastructure, geographic advantages and proximity to ports, the officials said.

Source: The Telegraph January 23, 2026 11:20 UTC