The Modi government’s much-publicised ‘Make in India’ programme has failed to create enough jobs in the absence for any incentive or ready capital available to the local companies for manufacturing goods in the country, Larsen and Toubro Ltd chairman A.M. Naik has said.

“We have to find answers as to why most Indian companies are keen to import rather than manufacture here… We allow imports because it often comes with credit facility. The other reason for high imports is because Indian companies do not have enough financing options available,” Naik said in an interview with Mint.