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Business & Finance

Reuters exclusively reports India’s new incentives for auto exports

Reuters reported exclusively that India is drawing up an incentive scheme for the autos sector aimed at doubling exports of vehicles and components in the next five years. The Department of Heavy Industries (DHI) has sought feedback from auto industry groups on the initial proposal, which suggests giving incentives over five years to increase local production and procurement for export. The move is part of India’s effort to create ‘champion’ sectors to attract investment, generate jobs and boost manufacturing and comes amid calls by Prime Minister Narendra Modi to be self-reliant as a nation.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Asia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text