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Post Budget Reaction comments

 Lenovo India : ( Amar Babu)

Managing Director, Lenovo India and President, MAIT “Budget 2015 is a positive and balanced budget that touches upon many areas of infrastructure, universal social security vision, insurance for all, education among others. From an IT industry perspective, it is a mixed bag with the inverted duty structure being finally addressed with the removal of SAD on all components. The removal of customs duty on components and concessional structure of 2% without CENVAT credit are positive steps to encourage tablet manufacturing in India. However it disappoints as no initiatives have been taken to increase PC manufacturing and promote exports.  In this budget, we might have missed an opportunity to drive 'Make in India' in computers. We could have improved capacity utilization of existing facility if we had the right enabling structure for local PC manufacturing.”

 

Hitachi India Pvt. Ltd. ( Mr. Ichiro Iino )

“The current Union Budget strives to drive the growth of the Indian Economy especially in the Social Infrastructure domain. We are all geared up to work towards transforming India into a self-reliant country by actively getting involved in fields such as Water, Urban Transportation, IT, Healthcare etc. and contribute to the overall welfare of the Indian society. The current Union Budget is very positive and promises growth for everyone,” said Mr. Ichiro Iino, Managing Director, Hitachi India Pvt. Ltd.

 

Dell India(Alok Ohrie, President)

We’re glad to see a positive budget announced by the Hon’ble Finance Minister. This reaffirms the reform stand taken up by the government and its commitment to investors here. Some of the forward looking statements made by the Finance Minister have a bearing on our sector – exemption of SAD, reduction of Basic Customs Duty on electronics components, inputs etc., ease of doing business, encouraging startups and the big boost to healthcare. However, we’ll need to review the notifications before any predictions could be made on the impact on the sector. The economic survey has indicated that a clear political mandate for big bang reforms coupled with a benign external environment can propel India to a double digit growth trajectory. Today’s announcement only goes to support this. Dell has been a major contributor to the IT sector in India. Apart from being India’s most trusted technology brand, Dell’s manufacturing facility for electronics has been shouldering the ‘Make in India’ mantle for more than 7 years.  In addition, we’ve been eagerly awaiting these announcements that boost the manufacturing capabilities of the country that will eventually grow the sector

 

  IPay Tech India Pvt. Ltd. (Krishna Lakamsani)

Govt allotted 1000 cr for startups but it has to be more clear in how this fund is going to be deployed last govt also alloted desperate fund for startups but it did not reach to its potential because of lack of understanding in govt officials how and where to deploy .

If govt is focussed on startup tax when they raise investment it would help startups but there is no view on that
As us govt did American Dream act giving employers to benefit when they hire new employees it will increase and help startups to hire there are no incentives specific to startups" Krishna Lakamsani , Founder & CEO, IPay Tech India Pvt. Ltd.

 

 Koenig Solutions (Mr Rohit Aggarwal)

Mr Rohit Aggarwal, Founder and CEO of Koenig Solutions. Said, “We genuinely welcome the budget’s emphasis on giving a friendly environment and financial incentives to business start-ups, especially in the IT sector. The FM has proposed Rs 1,000 crore to help IT start-ups, and support funding needs of small firms. The FM rightly recognized the IT sector as one of India’s leading employers in the services sector. The financial proposal will boost entrepreneurship in the IT sector and create more jobs.

 This is a manufacturing friendly budget, very much in line with the ‘Make in India’ thrust. From the point of view of the IT industry specifically, the streamlining of the Special Additional Duty will pave way for local manufacturing benefits to some IT products.

Overall, it is a positive growth friendly budget that gives the right direction to the economy by giving incentives to business, infrastructure and manufacturing. The proposal to reduce corporate tax from 30 % to 25 % for the next four years will give a healthy boost to spending, business and employment generation.

2-Mar-2015 08:40:24
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