Budget 2022: What top execs of TCL, Haier, Acer and others have to say – Times of India

Alok Dubey, Chief Financial Officer, Acer India
The Union Budget announced today showcased the government’s initiative towards Digital Transformation. From announcing a Digital University, for online learning to high-quality e-content across languages will enable the youth to skill, upskill and reskill themselves. These programs under digital learning and the connectivity expansion will further strengthen the availability and accessibility of internet in rural areas. With Govt infrastructure spending push, we are likely to see more employment and growth opportunities and enhanced private sector investment in manufacturing. We are confident that the exemption of duty on parts of select electronic items will further boost the domestic manufacturing of electronics goods under the PLI scheme.
Vijay Kumar Mikkilineni, Head of Marketing, TCL India
Extending the support to the government for increasing focus on the consumer electronics sector and formation technology, which will undoubtedly benefit all global brands like us. The recent Allocation of Rs 197 million ($26 billion) to PLI projects in the United Budget (202122), especially electronic components, is one of the 13 key sectors that will definitely help our economy grow. In addition, tariff reductions will drive the production of electronic devices, which will be the greatest benefit of the electronic device sector.”
Mahesh Gupta, Chairman Kent RO Systems Ltd
Union budget 2016 aims to strengthen India’s foundation by uplifting rural population through financial reforms and empowering measures like Digital Literacy scheme. This budget addresses the structural transformation amidst a very challenging global scenario due to pandemic. The Government’s thrust to manufacturing and rural education along with employment generation is commendable. The budget has all the right keywords. What makes me particularly happy is the impetus being given to job creation and domestic manufacturing with ease of business. These steps assure the creation of a developed ecosystem.
Satish NS, President, Haier Appliances India
We welcome the measures announced by Hon’ble Finance Minister in Union Budget 2022-23. The proposed recommendations promise to provide the much-needed economic velocity to India’s growth cycle and the government’s commitment to making India ‘AtmaNirbhar’. The production linked incentive (PLI) will further potentially help in increasing penetration and expansion of the tech & durables market. We remain committed to bolstering our domestic manufacturing in order to grow the Indian appliance market, which would further result in building economies of scale, generating employment opportunities, increasing export competitiveness, and making India a key manufacturing hub.
Avneet Singh Marwah, CEO SPPL, Exclusive Brand Licensee of Thomson in India
This budget has been more like announcements and slogans, I’m surprised how FM missed on health and education, which are two main pillars of the economy, despite the pandemic. Coming back to consumer electronics, on one hand the government talks about how electronics will contribute 1 trillion to the economy and on the other for consumer electronics no major announcements, no roadmaps have been given to the industry. The Government should have assured to reduce the GST tax slab from 28% to 18%, despite collecting more than 1 lakh cr on MoM basis. Few signs of encouragement that 5G will be launched this year, this will have a direct impact on sales of televisions. As consumers will upgrade to smart TV’s and will have better content quality.
A Gururaj, MD, Optiemus Electronics Ltd
The industry has been completely galvanized under the pioneering initiative of PLI scheme, with FM today stating that it has potential to create 60 Lakh new jobs and additional production of 30 lakh crores. This is also a clarion call to the industry to work much harder in the years to come to make it a reality. On a macro level, the scheme around design-led manufacturing as part of the PLI scheme would fasten the development of the ecosystem, and also changes in customs duty will drive greater domestic value addition in Electronics manufacturing in the country, which has grown rapidly in the last few years.
Midhula Devabhaktuni, co-founder and CMO, Mivi
The government has today announced duty exemption on electronics manufacturing including wearables and hearables. This is a very commendable move and will help Indian companies like Mivi that are manufacturing in India. We will be able to not only create more number of jobs but also offer a more price competitive product to our customers. It will also encourage more Indian brands to look to produce locally and reduce their dependence on imports.