Share with your friends

India: Financial assistance grants, incentives for manufacture of autos, pharmaceuticals, steel

India: Financial assistance grants

The Union Cabinet has approved the “production linked incentive scheme” to promote domestic manufacturing in certain sectors.


Related content

The KPMG member firm in India has prepared reports about the following incentives:

  • Automobiles and auto components: Financial assistance of INR 57042 crore (approximately U.S. $7.6 billion) would be granted as an incentive to foster domestic manufacturing capabilities, reduce import dependency, and increase exports of automobiles and auto components. Read a November 2020 report [PDF 282 KB]

  • Pharmaceutical drugs: Financial assistance of INR 15000 crore (approximately U.S. $2 billion) would be granted as an incentive for global and domestic entities to engage in high-value production of pharmaceutical drugs in India. Read a November 2020 report [PDF 282 KB]

  • Speciality steel: Financial assistance of INR 6322 crore (approximately U.S. $843 million) would be granted to enhance the manufacturing capabilities of value-added steel and specifically for the manufacture of coated steel, high-strength steel, steel rails, and ally steel bars and rods. Read a November 2020 report [PDF 282 KB]

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal