India: Government May Assist R&D

Matt Hopkins Posted by Matt Hopkins|1 January 2008

India’s government is considering an incentive that would make agrochemical research less costly in the country, according to the India Times.

Many local and multinational companies are already operating research and development (R&D) efforts in the country, and the government is planning to extend a research incentive that is currently offered to the pharmaceutical sector. The incentive would be an income tax exemption to deduct one-and-a-half times the cost of research from the companies’ taxable income in the next budget. The ministry of chemicals and fertilizers and the finance ministry are currently discussing this proposal, according to the article.