Reuters exclusively reported that India plans to offer cash subsidies, lower taxes and other incentives to bolster its shipbuilding industry, as part of an effort to reduce the pain of high freight rates for the nation’s manufacturers. The plans include subsidies so that at least 50 new vessels can be built, as well as granting “infrastructure status” to the industry which would help with financing from banks.
Economy
Reuters reveals India to offer incentives to boost shipbuilding industry
01 December 2022, 8:34 pm. 1 minute
Article Tags
Topics of Interest: Economy
Type: Reuters Best
Sectors: Industrial Goods & Manufacturing
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story