Niti Aayog seeks fiscal support to boost auto component manufacturing

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Niti Aayog seeks fiscal support to boost auto component manufacturing - Business Standard

Quick Summary:

NITI Aayog on Friday suggested the government to provide fiscal incentives for auto components manufacturing and to develop brownfield large-scale auto clusters for positioning India as a key player in global automotive markets.

The report titled "Automotive Industry: Powering India's Participation in Global Value Chains" was launched by NITI Aayog Vice Chairman Suman Bery.

"The government should provide operational expenditure (Opex) support to scale up manufacturing capabilities, with a focus on capital expenditure (Capex) for tooling, dyes, and infrastructure," it said.