India launches $1.2bn incentive scheme to boost domestic construction equipment
India is set to introduce a $1.2 billion incentive programme aimed at advancing domestic manufacturing of construction equipment. The scheme is designed to reduce the country's dependence on Chinese machinery for critical infrastructure needs. It will span seven years, during which the government anticipates significant fresh investment and growth in local production. Equipment covered under the plan includes tunnel boring machines and fire-fighting apparatus. The initiative aligns with India's broader push to accelerate infrastructure development across the country.
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