SBI recommends expanding India's PLI schemes to counter US tariffs and boost domestic industries.

The State Bank of India (SBI) recommends expanding India's Production-Linked Incentive (PLI) schemes in response to US President Trump's announcement of reciprocal tariffs. The report suggests extending the PLI schemes to sectors like textiles, engineering, and gems and jewellery to boost domestic industries and make Indian products more competitive globally. India has the potential to increase its market share in these sectors due to the global trade shift and the US imposing higher tariffs on Chinese goods. The US has also imposed a 26% tariff on Indian goods, highlighting the need for adjustments in trade negotiations.

5 days ago
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