We are also looking at a clearly defined roadmap for GST from the Government as this will help our sector, especially the trade, by clearing procedural delays. The market for LED products is growing exponentially and a check in custom duties on these products - raising the duties on finished goods and reducing it on raw materials - will give impetus to Make-in-India initiatives while also keeping a check on the influx of cheap products from other countries.
Also, a boost for R&D is required for development and updation of various technologies. Overall, a growth oriented budget which helps to provide the required boost to the economy by investments in infrastructure and housing is what we are expecting from the Government.
The author, Gautam Seth is Joint Managing Director, HPL Electric & Power Ltd.