Reuters exclusively reported that India plans to offer cash subsidies, lower taxes and other incentives to bolster its shipbuilding industry, as part of an effort to reduce the pain of high freight rates for the nation’s manufacturers. The plans include subsidies so that at least 50 new vessels can be built, as well as granting “infrastructure status” to the industry which would help with financing from banks.
The post Reuters reveals India to offer incentives to boost shipbuilding industry appeared first on Reuters News Agency.