Pre-Budget Expectation: Mitsubishi Electric India
By: Mr. Rajeev Sharma, Chief Strategy Officer, Mitsubishi Electric India Pvt. Ltd.
Mitsubishi Electric India is looking forward to encouraging Infrastructural development and bringing technological innovation through our products and solutions for the Indian market. I hope that Budget 2023 scales a path toward India’s growth story, especially in the infrastructure and technology sectors. The expectation for the upcoming union budget is to continue and provide the right policy and budgetary framework to ensure the economic growth of the country and a budget design that can stand as per the GDP growth rate expectations.
Considering that the Indian economy has begun to recover from the fiscal repercussions of the COVID-19 pandemic outbreak, the manufacturing sector is expected to experience solid growth, which can be further strengthened by providing fiscal incentives and specific schemes in the upcoming union budget 2023-24.
I strongly believe that the Indian government will prioritize the policies that can benefit the infrastructure, and manufacturing sector and promote renewable energy allowing the country to realize its potential on a global scale. Manufacturing investment must be encouraged among technology providers to bring self-reliant solutions in the country. Development of new-age manufacturing skills across the top and bottom of the pyramid must be enlightened which can be a game changer for further skill development.
The overall expectation from the union budget is that it brings steady growth for the present and future of the country.