India Plans to Offer Incentives to Companies Moving From China
- Aim is to become a production base for firms fleeing tariffs
- India to use opportunity to cut its trade deficit with China
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India is weighing offering incentives to attract companies moving out of China amid its trade war with the U.S., a person familiar with the development said.
Financial incentives such as preferential tax rates and the tax holiday provided by Vietnam to lure companies are among measures being considered, the person said, asking not to be identified as the discussion is still private. Industries identified for incentives include electronics, consumer appliances , electric vehicles, footwear and toys, according to a trade ministry document seen by Bloomberg.