Manufacturers Association For Information Technology (MAIT), the apex body representing India’s ICT sector has welcomed the Union Budget 2022 and said that government’s emphasis on digitization will lead to demand for electronic products and technology solutions.
Lauding Finance Minister Nirmala Siitharaman for presenting a “progressive investment oriented budget”, MAIT president Nitin Kunkolienker said; government’s emphasis on ease of doing business and agile policy making will be a key enabler for the fast moving electronics Hardware industry.
“Kick off of PMP for Hearables, Wearables & Smart meters is a continuation of India’s Electronics Atamnirbhar strategy. This will help in building domestic capability to address a $80 billion global market by 2025,” he added
Here is the complete statement of Mr Kunkolienker
The focus of the Government on support for R&D by bringing in public funding for R&D over and above the current academic and academia-industry framework is very encouraging. Along with allocation of 5% of USO Fund for R&D in products to take broadband into rural India. The allocation of funding for education content, 200 TV channels for education in regional language under PM e-Vidya, the transliteration of land records in 8 regional languages all have a powerful catalyst to ward integrating vernacular India into the Digital India.
Agile Policy steps of extension of start date for manufacturing for “Concessional tax regime”, the incorporation date for Start-ups for availing Tax incentives is welcome step and it demonstrates GoI walking the talk on Agile Policy Initiatives. Last but not the least, the GoI’s emphasis on improving multi-modal connectivity and strengthening India’s logistics is a very positive step for increasing India’s competitiveness and sustained electronic manufacturing out of India. We the Industry look forward for two Trans-shipment Hubs out of India and exclusive Air Cargo Airports to support electronic manufacturing.
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