Budget
“Govt. should reconsider extending excise duty concessions to consumer durables”: Anirudh Dhoot
MUMBAI: With the government of India deciding to withdraw the sops offered to the consumer durable industry, the move has come as a shocker to the sector.
Commenting on the decision taken by the government, Videocon director Anirudh Dhoot said, “The Indian government’s decision to not extend excise duty concession has come as a setback to the consumer durable industry.”
Dhoot further requested that the government should reconsider the increased excise duty sops in the upcoming budget as it will give a boost to manufacturing and bring revival to the sector.
Speaking about Prime Minister Narendra Modi’s highly anticipated and pet project, ‘Make in India’ campaign, Dhoot said that the country was capable enough to hold up the “Make in India” campaign. But going further he cautioned that in order to achieve this vision, the foremost action was to formulate policies and grant infrastructural support favouring electronic components and panel manufacturing in India. Dhoot’s Direct To Home (DTH) company Videocon d2h is also into the manufacturing of indigenous Set Top Boxes (STB).
“We expect better guidelines and framework that strengthens consumer durable industry and benefits homegrown produce from this budget,” Dhoot added.
On a concluding note Dhoot feels that at an overall level, the Union Budget needs to adopt a pragmatic approach towards addressing the needs of the consumer durable sector to manage its fiscal position. “This can take India back to a higher growth trajectory,” declared Dhoot.
