Post Budget Reaction by Mr. Vinu Cheriyan, CFO & Director Operations, Sennheiser India

For this year’s budget, the government has made some significant announcements that are aimed towards strengthening Digital India. The creation of 1 lakh Digital Villages in the next 5 years will truly set the tone for a digitally empowered country. We applaud the government’s focus on digital infrastructure and the digital economy. With India leading the consumption of mobile data usage in the world and the cost of voice and data calls being one of the lowest, there is immense potential for the growth of the entertainment industry, further giving an impetus to the audio accessories industry. The government’s Make in India initiative has also resulted in positive impact, with the mobile and parts manufacturing companies increasing from 2 to more than 268, creating huge job opportunities across. Taking that further, the aim is to expand rural industrialization using modern digital technologies to generate massive employment. Further, A National Programme on ‘Artificial Intelligence’ envisaged by our government is a welcome initiative towards putting futuristic technologies like AI in the hands of the Indian consumer. With India poised to become $5 trillion economy in the next 5 years, the government’s proposal of giving a full tax rebate to individual taxpayers with an income of up to 5 lakh will empower the Indian consumer. News Service

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