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Tesla, Others Gets Incentives to Set Up Factories in India

India is planning to offer 324 companies including Tesla Inc. and GlaxoSmithKline Plc incentives to set up factories in the South Asian nation in a bid to capitalize from the trade war between China and the US, according to Bloomberg.
The government proposes to provide the manufacturers land to set up a factory along with power, water and road access, according to a draft of the document prepared by the Department for Promotion of Industry and Internal Trade and Invest India. Other companies that officials will reach out to include Eli Lilly & Co., South Korea’s Hanwha Chemical Corp., and Taiwan’s Hon Hai Precision Industry Co.
Under the plan, 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. The proposal includes incentives for plug-in and hybrid vehicles, fuel efficiency and carbon taxation. For the electronics and telecom sector, flexible employment, manufacturing-related incentives linked to investments and value addition have been sought.
The Prime Minister’s Office is considering the proposal and a decision is expected soon. An email sent to the spokeswoman at the commerce and industry ministry wasn’t immediately answered.
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