The Department for Promotion of Industry and Internal Trade (DPIIT) is in talks with other ministries and states to rollout a scheme to make India self-reliant in furniture manufacturing through incentives such as tax breaks.
Keeping in view a new scheme to promote domestic furniture manufacturing is in the works, the government seeks to reduce India’s dependence on imported furniture.
“We have begun an exercise and consultations are on with various stakeholders for the furniture sector, we are looking at schemes which states can consider and what benefits they can offer such as tax concessions,” an official said.
The furniture sector is one of the champion sectors for the government. However, a Production Linked Incentive (PLI) scheme is ruled out for the sector. The government is also exploring the idea of furniture clusters, on the line of leather clusters, wherein large scale manufacturing can take place.
Source: – Incentives for furniture manufacturing in the works
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