Post-Budget quote from Founder & CEO Naaptol.com Manu Agarwal:
Budget announces opening of ecommerce space for FDI.
We were always in favour of FDI in E-com space. This will help the companies to gain an ‘Industry’ status.
This will bring in more players and will eventually create a wider ecosystem and a healthy competition
Foreign companies manufacturing products in India can sell their merchandise through the e-commerce route
This will help the customers to have a wider assortment of the products to choose from
The customers now will have high quality products at their disposal
To set-up Rs 10,000 cr Start-Up fund for new businesses
Historically, start ups have brought a lot of technological innovation in the industry and most of the successful companies in the world have been small start up enterprises once. In India this kind of stimulus was missing. However, with this new reform, I believe that there will be a substantial growth in the number of such companies coming into existence which in turn will contribute to the overall economic growth.
Service taxes going up on online advertising.
Online advertising industry is still in its nascent stage. The rates of the online advertisement space are very less as compared to outdoor or print, yet they have a massive reach. Thus this rise may not pinch as much.