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Reacting to the Union Budget 2015, India Electronics and Semiconductor Association (IESA) appreciated the government’s intent on Making India manufacturing hub through various initiatives including ease of doing business.
The Union Budget 2015 will accelerate growth, Investments, Manufacturing footprint and job creations in general and pass the benefits to the people.
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“Measures such as encouraging start-ups, addressing disabilities partially, skill development, funds with states, duty benefits for some products etc. will have incremental positive impact on the ESDM sector. This budget will lay a foundation for the electronics and technology industry to drive manufacturing and innovation from India however it lacks any major stimulus for quick impact to bring down the electronics Import bill in near term,” said Ashok Chandak, Chairman IESA.
Central-State Cooperation: This has been a positive move. We commend the central government focus to introduce GST, along with empowering states with 62% transfers of country’s total receivables and partner states in the nation’s growth process.
Boosting Start-Ups: As mentioned by the Finance Minister, India is gradually emerging as a start-up hub with experimentation happening in cutting edge technologies led by the entrepreneurs’ innovative thought processes. Under this consideration, the government has allocated Rs. 1000 crore to enable start-up incubation in the technology space and also created a mechanism “Self Employment and Talent Utilisation” to support all aspects of start-ups and other self-employment capabilities particularly in the technology driven areas.
Make in India for Defence Manufacturing: Marginal increase in Defence expenditure of 2,22,370 crore last year to 2,46,727 crore in 2015-16 and focus of ‘Make in India’ to accelerate defence manufacturing in the country.
Digital India push: various measures like National Optical Fibre Network Programme (NOFNP) and promoting cashless transaction will bring momentum in the technology and electronics innovation in India.
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