Possible Modi third term said to likely see focus on economic reforms
Prime Minister Narendra Modi plans a raft of business-friendly measures if he wins a third term this week, including pushing through regulations making it easier to hire and fire workers, according to two government officials familiar with the matter. As part of an election pledge to transform India into a global manufacturing hub, Mr. Modi wants to offer subsidies for domestic production modelled on recent packages for semiconductor firms and electric vehicle makers, said the officials, who spoke on condition of anonymity because they were not authorised to talk to media. He also plans to reduce import taxes on key inputs for locally-made goods, which have increased India's manufacturing costs, the officials said. Increasing India's share of global manufacturing Mr. Modi's re-election campaign was partly built on the promise of continued economic development. Reuters spoke to 15 people — including bureaucrats, representatives of major investors, economists and trade unionists — who identified three significant obstacles holding India back from manufacturing hub status: restrictive labour laws, challenges acquiring land, and a rigidly inefficient tariff regime.
Modi vibes well with Trump. But India may not be ready for a second Trump term
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