Post Budget Quote ’23 || Mr. Arjun Bajaj, Director – Videotex International, one of leading OEM/ODM Players for Smart TV manufacturing, since 37 years.
by Mr. Arjun Bajaj, Director – Videotex International
“Because this is Amrit Kaal’s first budget, the budget is heavily focused on digitalization and technological growth. In addition, the government has aimed to boost domestic manufacturing by simplifying manufacturing duties and indirect taxes. The move by the Centre to halve the basic customs duty on specified parts of open cells of TV panels to 2.5 percent will help consumers afford LED televisions. This is a real game-changer moment for the industry. Prices for LED TVs are expected to fall by 1 to 1.5% percent and the benefits of the same shall be passed on to the customers. This will significantly boost the domestic television manufacturing industry and help compete with global brands. This decision is a much-awaited one. The ongoing ‘Make in India’ campaign, which includes lower import duties on ‘parts/raw materials’ used in electronics, camera lenses, and TV panels should help increase direct and indirect job creation. One of the budget’s priorities is also the development of infrastructure and investment in India, which can help India become a manufacturing leader.”