Local manufacturing to get boost amid curbs on Chinese imports

After having imposed restrictions on imports from China, the Centre is shortly expected to roll out a series of concessions to investors keen on manufacturing on Indian soil. These may range from getting land of choice more easily to set up factories to loans at extremely attractive rates and production-linked incentives.

A separate financing body is planned for this sector to provide loans at rates lower than 5%-6%.

As many as 20 sectors have been identified for production-linked incentives. These include textiles, leather and leather goods, industrial machinery, furniture, agro chemicals, auto parts, masks, sanitisers and food processing, two top officials told DH.

The incentive scheme seeks to extend an incentive of 4% to 6% on incremental sales of goods manufactured in India.

“Manufacturing is central to the Atmanirbhar Bharat Abhiyan. There will be many more incentives to industry. It is key to creating jobs and accelerating the economy. Prime Minister Narendra Modi’s Independence Day speech is expected to throw more light on the plan,” officials said.

A land bank portal for which five lakh hectares of land has already been identified in six states will be launched. This will allow online viewing of land available from board rooms and a single-window clearance for all land-related laws.