ACE industry welcomes the Budget, particularly the push for local manufacturing of Mobile Phones and Consumer Electronics by increasing Customs Duty on imported products and components, a move that is consistent with the government’s Make-in-India initiative. The focus on improving rural electrification and well-being through the National Livelihood Mission will stimulate rural demand for electronics and appliances in the short to medium term meanwhile, a sustained development can be ensured through the focus on Smart Cities. The MSME sector, which forms the backbone of the electronics industry will benefit from reduction in corporate tax from 30% to 25% and the allocation of ~Rs 3,800 crore for the development of the sector will translate to strengthening the electronics eco-system at large. Further, doubling of allocation towards future technologies such as IoT, Robotics, etc. are encouraging as these rapidly growing technologies are likely to impact our industry as well.
@Technuter.com News Service