Ajay Shankar

Ajay Shankar

Ajay Shankar is former Secretary of Industrial Policy and Promotion, Government of India.

Beyond the "Paracetamol" of PLI: How the Budget Can Rewrite India's Manufacturing Story

Budget 2026

India needs structural reforms, not subsidies. This Budget must tackle energy, logistics, credit and the rupee to revive manufacturing.

Ajay Shankar

January 30, 2026 at 8:51 AM IST

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