India to offer incentives to boost home manufacturing

India to offer production-linked incentives to boost domestic manufacturing

Kumar didn't specify which sectors might be made eligible for the incentives

Vice-chairman of NITI Aayog Rajiv Kumar. Credit: PTI Photo

India is working to offer production-linked incentives to more sectors to boost domestic manufacturing, a top government official said on Friday, bolstering efforts to attract new investments in its coronavirus-stricken economy.

The Cabinet will soon consider approving such incentives for more sectors, Rajiv Kumar, vice-chairman of NITI Aayog, a government think-tank told a virtual conference.

Kumar didn't specify which sectors might be made eligible for the incentives.

The government earlier announced production-linked incentives for large-scale electronic goods makers, pharmaceutical companies and manufacturers of medical devices.