It is not every day that a government rolls out a large fiscal stimulus. Yet supply disruptions due to COVID-19, the government’s ‘Make In India’ push and a realization of the country's dependence on China have prompted not one but two schemes by the Indian government with potential to boost India’s manufacturing capability.
Following a profit-linked incentive (PLI) scheme introduced in 2020 for production of certain critical raw materials like penicillin G, the...