Industry Welcomes Union Budget 2022-23 as Positive One for Domestic Manufacturing
Dear Readers,
The talk of this month has been the much awaited Union Budget 2022- 23.
Overall the mobility and electronics industry welcomes the Union Budget 2022-23 as a positive one that furthers the interests of the Indian manufacturing industry. Additionally, the increase in PLI benefi ts to the sector is also viewed as benefi cial to the companies directly as well as indirectly. The 15% income tax for new manufacturing companies offers immense relaxations for the companies.
Next, the duty concessions being given to promote electronic manufacturing, wearable and hearable products is calibrated to provide a graded structure, and give growth to the manufacturing industry considering the sales would surge as a result of subsidized end product.
The EV industry feels the government policies for bringing EV battery swapping interoperability is a brilliant move.
We wish the Union Budget 2022-23 will take the Make in India program in the electronics and EV industry to the next level.
