Budget 2015: Promote localization of products

The year 2014 has seen some significant announcements from the newly elected government in terms of initiatives aimed to boost manufacturing , improving infrastructure, attracting more investment and improving India’s ranking the ‘ease of doing business’ list of countries.

While 2014 has set the stage, expectations from the 2015 budget from an industry perspective, would be around implementation and execution of plans; on the Digital India, Make in India and Smart Cities initiatives.

At this juncture, tangible investments made towards building a strong infrastructure to support and leverage innovative technologies and introducing new reforms that will revive manufacturing – create more manufacturing clusters, promote localization of products and demand, reducing import duties on electronic components and making importation of these components easy and introducing skilled labor development programs in the country will provide the required impetus to India’s electronics and manufacturing sectors.

C M Menon, Regional Sales Director, Analog Devices India Pvt

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