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Govt aims to boost local production of ACs, furniture; eyes $17 billion investment proposals

Representational imageNew Delhi: The Centre is reportedly considering proposals for investment of $16-17 billion (around Rs 1.25 lakh crore) to boost domestic production of air conditioners and its components, furniture and leather footwear, while looking at options, including duty hikes, to reduce import dependence and push exports, the Times of India mentioned in a report.“To increase manufacturing, ‘Make in India’ and employment, priority sectors have been identified and work has started in three — furniture, air conditioner, leather & footwear.