India is planning roughly $2.7B in fresh subsidies and import tariff cuts to help boost local manufacturing, especially of smartphones made by companies like Apple (AAPL), Bloomberg’s Shruti Srivastava, Sankalp Phartiyal, and Ruchi Bhatia report. The final decision on the proposals will be made by the cabinet, and if approved, details may be announced in the government’s upcoming budget in February, sources say.
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