Govt's 'Make in India' move boosts stocks of consumer durables companies

The stocks of consumer durable firms and contract manufacturers, such as Orient Electric, Amber Enterprises and Dixon Technologies, inched up on Monday after the government said it would raise Customs duty on certain products and launch a scheme to encourage domestic manufacturing of electronic goods.

On Saturday, Finance Minister Nirmala Sitharaman had said a policy to promote manufacturing of mobile phones, semiconductors, and electronic equipment was in the works.

Industry sources said the policy could be out in a month and offer incentives through tax benefits and easy availability of amenities. It would also be aligned with the revised corporation tax rate of 15 per cent for new manufacturers.