New Delhi, Aug. 20 -- The government is weighing new measures to boost manufacturing while exploring alternative markets to offset the impact of US tariffs and make Indian products more competitive globally, according to two people familiar with the matter.

The proposals under discussion include interest subventions, the development of manufacturing clusters near infrastructure hubs, and measures to attract more private capital, the people cited earlier said on the condition of anonymity.

The measures are also expected to focus on creating jobs, boosting exports, and strengthening domestic consumption.

"Beyond targeted incentives, the government is weighing structural reforms, ranging from tweaks in the GST (goods and services tax) fra...