The India Electronics and Semiconductor Association (IESA) welcome the budget for its boost to the Indian Electronics and semiconductor industry. We believe the steps outlined for this sector by the Hon’ble Finance Minister will help to boost this sector by attracting investments, promoting entrepreneurship and domestic manufacturing,
In addition to the current depreciation benefits, the IESA believes this will significantly aid in attracting investments into this sector. About the import duty on Set Top Boxes (STBs), the IESA welcomes the increase in import duty on this product, which is one the fastest moving electronics products today. There is a potential for 100 million STBs over the next 2-3 years as a result of the digitization of cable act, and we believe this increase of import duty will help Indian manufacturers to address the Unfair advantage imported set top boxes are getting and will boost domestic manufacturing of Set Top Boxes in India.
About the support to the entrepreneurial ecosystem, IESA welcomes the support to kick start the entrepreneurial ecosystem in India, especially the following two initiatives: 1) investments in technology incubators established in academic institutions being recognized as CSR. 2) The decision to recognize angel investor pools under SEBI guidelines will also help to grow this segment and encourage HNI’s to come forth and invest as Angel Investors, thus helping again to grow the entrepreneurial ecosystem
