NEW DELHI: India is set to approve a $1.2-billion incentive scheme for the making of high-value, technologically sophisticated construction and infrastructure equipment, two government sources said, in a bid to reduce dependence on China for critical machinery.
The scheme, which is expected to be finalised soon, aims to draw $1.8 billion in fresh investment by offering incentives over seven years to domestic manufacturers of equipment including tunnel boring machines, fire-fighting equipment and elevators used in high-rise buildings, one of two the sources said.
