India plans incentives for 324 firms

In order to capitalize on the trade war between China and the US, India is planning to offer 324 companies including Tesla Inc. and GlaxoSmithKline Plc incentives to set up factories. According to the document crafted by Department for Promotion of Industry and Internal Trade and Invest India, the government proposes to provide the manufacturers land to set up a factory along with power, water and road access. This may reduce red tape and attract more firms.

The document also states that the government will create a land bank for ready-to-move-in industrial clusters, offer investment and location-based incentives and rationalize anti-dumping duties.

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