India plans incentive scheme for auto companies
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Dhaka, June 29 -- India is drawing up an incentive scheme for the car making companies with an aim to double exports of vehicles and components in the next five years, four sources with direct knowledge of the matter have said.
The Department of Heavy Industries (DHI) of India 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 sources said.
The incentives would be based on the sales value of vehicles or components and eligible companies would need to meet certain conditions, including a minimum revenue and profit threshold and presence in at least 10 countries, two of the sources said, adding the form the inc...
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