The government on Friday revived its efforts to attract high-tech companies for setting up manufacturing units in India in areas like electronic chip manufacturing, laptop etc with a promise of direct and indirect tax incentives.
The proposal was put forward by Finance Minister Nirmala Sitharaman while presenting the Union Budger 2019-20.
"Government will launch a scheme to invite global companies through transparent bidding to set up mega manufacturing plants in sunrise and advanced technology areas such as semiconductor fabrication," she said.
The finance minister said the scheme will include units in the fields of solar photo voltaic cells, lithium storage batteries, solar electric charging infrastructure, computers servers, laptop etc.
The government will "provide them investment linked income tax exemptions under 35 AD of the Income Tax Act and other indirect tax benefits."
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