Manufacturing has emerged as one of the high growth sectors in India targeting global markets and are becoming formidable global competitors. India has jumped 30 places to reach the 100th spot in the World Bank’s “Doing Business Report 2017” and has been one of the top improvers. The country is expected to rank amongst the top three manufacturing destinations by 2020. Manufacturing sector is estimated to touch USD $1 Trillion by 2025 accounting for about 25 - 30% of the country’s GDP, creating up to 90 million jobs domestically.
The Government of India has set up an ambitious plan of locally manufacturing around 181 products. This along with digital push could be a big catalyst to sectors such as Power, Oil & Gas, Automobile Manufacturing. In recent years, the Indian government has implemented a number of tax incentives for manufacturers.
These incentives were created by the Make in India program and the Goods & Services Tax (GST), which are expected to increase the nation’s share of the global electronics manufacturing market. The Make in India Program, established in 2014, provides new incentives aimed at promoting investment, fostering innovation, and protecting intellectual property.
In 2017, India’s GST program was launched and it provides a uniform, transparent tax code. The goal of both programs is to create more jobs across the country and across many industries that have often been outsourced across the globe
SCPL along with it's partners have expertise in delivering manufacturing subsidies for both, Green Feild Projects & expansion across all sectors involviing subsidies from Central & State Government
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