Budget has provisions to boost electronic manufacturing by promoting MSIPS and EDF

India Infoline News Service | Mumbai | February 03, 2017 10:18 IST

These announcements are further in sync with the overall emphasis on transitioning India into a digital economy, empowered with fast internet access, cyber-security and access to smartphones.

The Union Budget-2017 carries significant prospects for manufacturing brands. The FM has included provisions meant to boost electronic manufacturing by promoting Modified Special Incentive Package Scheme (MSIPS) and the Electronics Development Fund (EDF). Such policies would further receive funds worth Rs 745 crore in FY18, hence, promoting indigenous manufacturers and attracting innovation and technology prowess engineered by foreign countries.

And while the manufacturing sector celebrates policy changes, we further appreciate the streamlined delivery of these products, via the GST bill. These announcements are further in sync with the overall emphasis on transitioning India into a digital economy, empowered with fast internet access, cyber-security and access to smartphones.

It is heartening to see the Union Budget for FY18 support the right to progress by shifting the focus back on to rural economy and agriculture which truly resonates with our brand proposition. The provisions put forth in the budget are going to improve the buying capacity, digital lifestyles and affluence of the rural India and we at itel, welcome these changes and look forward to the promising year ahead.

The author, Sudhir Kumar is CEO, itel Mobile India.
 

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