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Union Budget 2017: Panasonic India Believes Dependency on Imports Will be Reduced

Union Budget 2017: Panasonic India's take

News18.com

Updated:February 1, 2017, 5:15 PM IST
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Union Budget 2017: Panasonic India Believes Dependency on Imports Will be Reduced
Mr. Manish Sharma, President & CEO, Panasonic India & South Asia, and Executive Officer, Panasonic Corporation. (Image: Panasonic)

Reacting on Union Budget 2017, here is what Panasonic India said.

“The Union Budget 2017 will have a long-term impact, it needs to be analysed further when it comes to the appliances and consumer electronics industry. This budget, a lot of impetus has gone to rural economy and allocation on infrastructure by the honourable finance minister. From a consumer electronic company point of view, we were expecting direction on the upliftment in supply chain and logistics in India. The budget allocated towards MSIPs and EPF looks progressive and will surely reduce dependency on imports in the industry.

We look forward to the next draft of GST to come forward, however the government’s move on imposing a 2% special additional duty on populated printed circuit boards (PCB) used for mobile phones imported into the country, will provide adequate protection to the domestic industry and give the necessary impetus to Make-in-India under the GST regime.”

Also read: Union Budget: Rs 10,000 cr to be Put in BharatNet in 2017-18

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