India Should Expand PLI Scheme Amid US' Reciprocal Tariffs: SBI Report

According to a report by the State Bank of India (SBI), India should strengthen its Production-Linked Incentive (PLI) schemes in light of growing global trade competitiveness, especially after U.S. President Donald Trump announced reciprocal tariffs on several countries, including India.

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The report stated that India has a strong opportunity to benefit from the global shift in trade, especially with the U.S. imposing higher tariffs on Chinese goods.

It recommended that the Indian government expand the current PLI schemes across key sectors like textiles, engineering goods, and gems and jewellery. It suggests widening the coverage of the scheme to include more products and extending its duration by three more years. This would help boost investments in domestic industries and make Indian products more competitive in the global market.