India mulling to offer incentives to firms exiting China

Modi-led government is mulling to offer incentives like preferential tax rates and tax holiday to attract firms moving production out of China amid escalating US-China trade war. According to a Bloomberg report, incentives are considered in electronics, consumer appliances, electric vehicles and others in an effort to set up a series of affordable industrial zones along the coastline giving preference to local traders that will boost employment and private consumption. Recently reports claimed that Apple has already asked its major suppliers to look for options, preferably in India and Vietnam, for moving out 30% production amid rising tensions.