Budget Reaction I FnB Startup, Manufacturing & Packaging
Ms. Sejal Purohit, Founder, Seven Spring- Premium Tea Startup, recently launched India’s first 100% compostable tea sachet packaging.
The Indian government this year has presented a growth-oriented budget with a special focus on boosting the manufacturing sector to create massive employment opportunities and to maintain India’s status as the world’s fastest-growing economy even after the global crisis due to the pandemic.
The concessional corporate tax for newly incorporated manufacturing companies is a positive move towards promoting the “Make in India” initiative, as this will encourage new manufacturing industries as well as increase private investment in this industry.
Apart from that, the funds allocated to the Green industry are also positive for the startups who are trying to bring new technology and products to this industry to bring about a revolution as well as contribute to the whole economy.”