India pushes import-cut plan to counter global shocks
Indian Prime Minister Narendra Modi is implementing measures to reduce import dependence by promoting local manufacturing to safeguard supply chains amid rising geopolitical risks. His office has directed key ministries to identify high-dependence import categories that could be substituted with domestic products, while discussions on subsidies and incentives are ongoing. This initiative follows a cabinet approval for an additional ₹1.9 trillion ($19.7 billion) to support chip and smartphone production, highlighting India's vulnerability due to reliance on imports, particularly from China.