India Set to Approve $1.2 Billion Incentive Plan for Construction Equipment, Sources Say

India is expected to approve a $1.2 billion incentive plan aimed at expanding domestic production of construction equipment, according to sources familiar with the proposal. The programme could offer financial support to manufacturers investing in factories, technology and supply chains. Officials hope the initiative will reduce import dependence, create jobs and strengthen India’s industrial base. The plan is part of broader efforts to promote manufacturing and attract investment. The final structure, eligibility rules and implementation timetable remain undisclosed to date.