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The Economic Times

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PM Modi pushes to cut imports to shield India from shocks

India is likely preparing a major import substitution drive as geopolitical tensions and supply chain risks push the government to reduce dependence on foreign goods. The Centre is identifying over 100 products for domestic manufacturing, while boosting incentives for semiconductors, smartphones, fertilisers and critical industries to strengthen India's economic resilience and manufacturing base.

16 Jul 2026 12:25 pm