New Delhi, April 5, 2025 – The State Bank of India (SBI) has advised the Indian government to expand the Production-Linked Incentive (PLI) scheme amid rising global trade uncertainty caused by U.S. President Donald Trump’s renewed push for reciprocal tariffs. The SBI report highlights that broadening the PLI scheme could support India’s manufacturing growth, protect the economy from global shocks, and increase export competitiveness.
With Trump’s tariff policies likely to disrupt global trade flows, the report urges India to act swiftly to attract diverted investments and reinforce its position as a key manufacturing destination. Policymakers are being encouraged to use the opportunity to deepen industrial incentives across more sectors, ensuring India remains resilient and competitive in an evolving global economic environment.
