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Govt may extend FY28 Budget support to boost manufacturing

Govt may extend FY28 Budget support to boost manufacturing

The Union Budget 2027-28 is likely to be presented on February 1, next year.

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The government is likely to extend support measures in the forthcoming Budget to boost domestic manufacturing of 100 products, including intermediates and capital goods across sectors, an official said.

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Commerce and Industry Ministry, has completed an exercise to identify 100 such products, for which India is heavily dependent on imports.
These goods may include items from sectors such as auto components, chemicals, and machinery.
The official said that the identification exercise was completed after comprehensive consultations with various ministries and the private sector.


"The move is aimed at strengthening domestic manufacturing and reducing import dependence. These products are either not getting manufactured in India as of now or are not being manufactured sufficiently at the moment. The objective is to expand manufacturing for both domestic and global markets," the official added.
The ministry would share these details with the finance ministry as part of its Budget (2027-28) recommendations.


Support measures could include fiscal and non-fiscal measures, R&D support, trade and tariff measures, and strengthening of testing and certification infrastructure.
The Union Budget 2027-28 is likely to be presented on February 1, next year.
As per the commerce ministry data, India's chemicals imports rose by 10.5 per cent to USD 16.1 billion during April-September 2026-27.


The inbound shipments of dyeing/tanning/colouring materials were up by about 30 per cent to USD 2.7 billion in the same period. Similarly, imports of machinery (electrical and non-electrical) and transport equipment grew by 15.5 per cent and 9.21 per cent to USD 34.1 billion and USD 18.21 billion, respectively, in the first half of this fiscal.
The government is taking a series of measures to boost domestic manufacturing. These steps include production linked incentive schmes for 14 sectors; PM GatiShakti and National Logistics Policy; and Bharat Audyogik Vikas Yojna (BHAVYA). - PTI

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