Govt plans to offer Rs 1.6 trn package to lure global manufacturers: Report

The incentive program, being spearheaded by the country's policy planning body, uses the template of a scheme implemented earlier this year to draw businesses away from China

India is planning to offer incentives worth Rs 1.68 trillion ($23 billion) to attract companies to set up manufacturing in the South Asian nation, people with knowledge of the matter said.

Prime Minister Narendra Modi’s government will offer production-linked incentives to automobile manufacturers, solar panel makers, and specialty steel to consumer appliance companies, according to documents reviewed by Bloomberg News. Textile units, food processing plants and specialised pharmaceutical product makers are also being considered for the plan.

The incentive program, being spearheaded by the country’s policy planning body, uses the template of a scheme implemented earlier this year to draw