Union Budget 2021: What tech leaders want – Eagles Vine

The countdown has started for the Union Budget 2021 set to be presented by the finance minister Nirmala Sitharaman. Corporate India is looking forward to a Budget that can spur the economy reeling under recession induced by Pandemic. Here are Budget 2021 expectations from some of the top honchos of India Inc :
Sanjay Gupta, vice president and India country manager, NXP Semiconductors
“The Government of India has been planning to boost domestic manufacturing and cut down on import bills with the production-linked scheme (PLI) along with scheme for promotion of manufacturing of electronic components and semiconductors (SPECS). We expect the Budget 2021 to provide further push to ‘Make in India’ initiative through incentives on export duty and take it to the next orbit of ‘Design in India’. We expect the Govt to launch some disruptive game-changing schemes to give strong push to semiconductors Fabless design & electronic Startup ecosystem in the country. This will improve the innovation and R&D sector in the country and propel the country towards becoming a global hub in electronics and semiconductors segment. The government should also consider introducing a detailed framework for registration and operation along with some tax related relaxations of electronic manufacturers as well as R&D. India has started its electric vehicle (EV) journey and we are hopeful that the budget would provide further impetus to the sector. We are expecting this budget to provide financial benefits for EVs to support better charging infrastructure and innovation related to battery technologies. We also expect the government to incentivize the adoption of electric vehicles along with manufacturing of EV-related components. India is at the cusp of rolling out 5G which will prove to be a game changer in the telecom sector. We are positive that this budget will aim to promote the 5G ecosystem in the country by providing investment incentives to companies, relaxing tax and regulatory fee on 5G acquisition and cutting down spectrum charges and other levies.”
Sumit Sood, senior vice president and head of APAC, GlobalLogic
“As the upcoming Union Budget 2021 is taking the centre stage, numerous sectors across India have huge expectations on how it will pave the right path for economic recovery from the COVID-19 pandemic impact. Technology sector, that played a vital role in digital adoption and business continuity, expects operative and promising policies that not only support innovation and business continuity but create a robust digital ecosystem. To support India’s growing digital economy, it is imperative to bring forth essential regulatory guidelines and incentivize R&D of new-age technologies like Artificial Intelligence (AI), Machine Learning (ML), Blockchain, etc.”
Avneet Singh Marwah, director and CEO of Super Plastronics Pvt Ltd, Kodak brand Licensee
“In the past 5 years, there was dependency on China as the sole manufacturer of TV panels in the world. Moreover, the prices of TV panels were dominated by 6 companies which increased its prices by 300% in the last 8 months. But this budget is an opportunity for Indian Government to bring dual reforms to our TV manufacturing ecosystem. One, boost local production and manufacturing by removing custom duty on panels, and including televisions under the PLI scheme; and second drive demand by reducing GST from 28% to 18% as content consumption patterns have changed in the emerging towns as well..”

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