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India mulls $1.32 billion incentive to local manufacturing investments

by ChemOrbis Editorial Team - content@chemorbis.com
  • 18/01/2024 (14:49)
According to media sources, India plans to pay incentives worth 110 billion rupees ($1.32 billion) to private companies for their investments in the current fiscal year ending in March. The country aims to boost the local manufacturing sector with this move.

About the production-linked scheme, senior trade ministry official Rajiv Singh Thakur stated that the government paid incentives worth 44.15 billion rupees ($531 million) for the program so far.

The support program was launched in 2020 and it covers electronic products and pharmaceutical drugs, along with 12 other sectors.
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