Industry Leaders Anticipate Budget 2024-25 Boost for Local Manufacturing and Skill Development: Insights from Rajesh Doshi and Ravi Kunwar
As the Union Budget 2024-25 approaches, industry leaders Rajesh Doshi and Ravi Kunwar are eagerly anticipating policies that will support local manufacturing, skill development, and the Production Linked Incentive (PLI) Scheme, particularly in the smartphone ecosystem. These leaders are looking for a budget that will prioritize finance, healthcare, infrastructure, domestic component production, reduced import duties, economic resilience, an indigenous supply chain, and positioning India as a global player in the smartphone market.
Rajesh Doshi, Co-founder & Director at Zebronics, emphasized the importance of supporting local manufacturing and skill development in the upcoming budget. He highlighted the need for continued focus on various sectors such as manufacturing, agriculture, finance, healthcare, and infrastructure. Doshi stressed the significance of skill development initiatives in preparing the workforce for industry demands and expressed hope for measures and subsidies that would boost economic resilience through local manufacturing.
On the other hand, Ravi Kunwar, Vice President for India & APAC at HMD, is optimistic about the impact of the budget on the smartphone industry. He specifically mentioned the importance of extending or improving the PLI scheme, which has been instrumental in driving domestic manufacturing. Kunwar emphasized the need for policies that incentivize the production of key smartphone components within India to build a self-reliant ecosystem and strengthen the indigenous supply chain. He expressed confidence that the upcoming budget will build upon existing policies to ensure stability and sustainable growth for the Indian smartphone industry.
Overall, industry leaders are looking forward to a budget that will provide support and incentives for local manufacturing, skill development, and the growth of the smartphone ecosystem. The focus on enhancing various sectors and promoting self-reliance through domestic manufacturing is crucial for India’s economic growth and competitiveness in the global market.
In conclusion, the expectations and insights of industry leaders like Rajesh Doshi and Ravi Kunwar shed light on the key priorities and areas of focus for the upcoming Union Budget 2024-25. Their perspectives highlight the importance of policies that will drive innovation, growth, and resilience in the Indian economy, particularly in the context of local manufacturing and skill development. As the budget announcement approaches, all eyes will be on the government’s initiatives to support and strengthen key sectors for sustainable economic development.