India Set to Approve $1.2 Billion Scheme for Domestic Construction Equipment
· Business · Times of India, Economic Times
India is set to approve a $1.2-billion incentive scheme to boost manufacturing of high-value construction and infrastructure equipment, aiming to reduce dependence on China. The initiative targets about $1.8 billion in fresh investments over seven years by offering production incentives to domestic manufacturers. The proposed scheme covers specialized machinery including tunnel boring machines, fire-fighting equipment, and high-rise building elevators. State-run BEML, Larsen & Toubro, and Johnson Lifts are expected to benefit from the policy, which aligns with announcements made in the 2026-27 Union Budget.
Why it matters
The manufacturing incentive scheme aims to build self-reliance in critical infrastructure machinery, reducing India's reliance on Chinese suppliers for metro and highway projects.
Read the original report — Times of India
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