India’s cabinet  approved a proposal to provide production-linked incentives of about 2 trillion rupees ($27 billion) over five years to create jobs and boost manufacturing in the country, the finance minister said. The incentives will be given to manufacturers in 10 sectors including automobiles and auto parts, pharmaceuticals, textiles and food products to attract investment. Under the proposal, the government will give incentives worth $7.67 billion to auto and auto parts companies, $2 billion to the pharmaceutical sector and around $1.48 billion each to manufacturers of textile and food products.

(Auto Economic Times)