India seeks to be more involved in world supply chains and serve as an alternative to China through output-incentive plans and the growth of its domestic consumer market, Finance Minister Nirmala Sitharaman said.
So-called production-linked incentive schemes covering 13 manufacturing sectors including for semiconductors “are bringing in global value chains into India,” Sitharaman said at the Peterson Institute for International Economics. “By doing that, we hope to have production of many of these large, bulk-manufactured goods which can go from India” to meet both international and local demand, she said.
