Budget 2022 expectations: Tech industry eyes import tariffs cut
Vijay Kumar Mikkilineni, Head of Marketing, TCL India expects the central government to reduce import tariff in the upcoming Budget 2022.
Budget 2022 is almost here and several industry experts have come up with a list of expectations that they want the government to consider. They are of the opinion that if these Budget 2022 expectations are covered, then it can help tech industry grow. Union Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2022 on February 1, 2022. Due to Covid-19 pandemic several sectors and industries have been adversely impacted and this has slowed the overall economic development of the country and even the world.
The central government is already making efforts to boost domestic manufacturing and production industries by initiatives like Make in India, PLI Scheme, among others. Tech industry experts are expecting the government to reduce tariffs on imports so that it will become a bit easier to compete with countries like China, Thailand, among others.
Keeping his expectations forward from the upcoming Union Budget Vijay Kumar Mikkilineni, Head of Marketing, TCL India said, "Reduction on import tariffs is something we are expecting, this will help us compete with countries like China, Mexico, Thailand and more."
"In the last two years, the PLI schemes have provided momentum to domestic and international investments, but so the investment from the Government side for infrastructure building will boost the ‘Make in India' movement. We have to integrate India into the global supply chain scenario, to achieve that tariffs should be equal or less than competitive markets,” he said.
While, Rimo Bose, PR and Branding Manager, TCL India said, “We are expecting that the import tariff will be reduced, so that our country can match up with the other competing countries like China, Mexico, Thailand and more. Additionally, we have witnessed much of compliance reforms in the last two years, the PLI schemes have indeed helped in domestic and international investments, but we have to keep in mind that setting up manufacturing units might take several years, so the investment from the Government side will boost the ‘Make in India' movement.”
TCL India has various businesses spanning home appliances, wearables, and other segments. The company deals in products like gaming televisions, air conditioners, washing machine, headphones, tablets, etc.