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Govt eyes $17bn investment proposals to boost local manufacturing

The government is 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.“To increase manufacturing, ‘Make in India’ and employment, priority sectors have been identified and work has started in three — furniture, air conditioner, leather & footwear.