Manufacturing and MSMEs: Boosting Local Production
India is stepping up efforts to make local manufacturing competitive on the global stage, from textiles to defense equipment.
*Key Announcements:*
- ?20,000 crore *MSME Credit Guarantee Fund* to improve financial access for small businesses.
- Expansion of *PLI schemes* to incentivize domestic production in textiles, electronics, and automotive sectors.
- Streamlined *single-window clearance* for permits and factory approvals to reduce bureaucratic hurdles.
- Special incentives for *local defense manufacturing* to bolster national security.
*Sectoral Impact:*
- *Global competitiveness* of MSMEs and manufacturers will rise, with improved access to credit and incentives for production.
- New *job opportunities* will emerge in logistics, exports, and supply chain management.
- India will see a surge in *foreign investments*, strengthening its industrial base.
