Firms looking to ditch China are most welcome in India

Published On: Wednesday, April 22, 2020 | By: Team KnowMyStock

The Prime Minister’s Office, Niti Aayog and the Department for Promotion of Industry and Internal Trade are firming up a plan to offer incentives to attract companies looking to shift manufacturing activities out of China. The benefits will be on the lines of those given to manufacture of electronic and medical devices. These may include production-linked incentives such as capital expenditure benefits. There is a growing realisation among multinational firms after the COVID-19 pandemic that capacities cannot be concentrated in one place. India has set up dedicated groups to directly interact with firms that may want to diversify out of China.

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