MoP proposes five-year tax holiday and anti-dumping duties to boost power equipment manufacturing

The Ministry of Power (MoP) is reportedly working on a proposal to provide five-year tax holidays and a levy of anti-dumping duties on imports of about 10 identified equipment for transmission and distribution projects under a phased manufacturing programme.

The proposed fiscal incentives include tax rebates for investments in setting up manufacturing units of the identified equipment, duty-free imports for raw material, and support for technology transfers. The identified equipment includes supervisory control and data acquisition (SCADA) systems and controllers that are amongst the most imported items to create an enabling framework while ensuring their local manufacturing.