Indian Budget 2013
India's Budget and the Process Industry: What Top Honchos Expect for 2013
Rajesh Nath Managing Director, German Engineering Federation (VDMA)
“2012 was a very challenging period for the Indian industry and economy. To boost the industrial growth, we hope in the 2013 budget the government comes out with clear SOPs for capital equipment like reduction in excise duty. This would help to boost up sales of the equipment. Also basic customs duty needs to be lowered. This would help the Indian manufacturing industry to utilize the latest technological advancements and would lead to an increase in production and quality of products.
The envisaged projects in the infrastructure sector have to be implemented to give a thrust to the economic growth. This can of course happen only if the government takes bold steps in awarding contracts for infrastructure projects.
The government should also work towards bringing in policy reforms, especially for PPP projects to make it attractive for investors to invest in infrastructure projects in India. Besides this, there are many other pending issues related to the industry like uniform taxation, GST, clarity on some of the concessions given by government for duty free imports to name a few. We hope that the forthcoming budget would consider these issues favorably.”
Gautam Agarwal Director – Corporate, Ansapack Group
“Given the current scenario in the packing industry, several indigenous players continue to face challenges in partaking the opportunity of growth as presented in their customers or end product industries. This happens primarily in pharmaceutical packaging due to the lack of ability of the said packaging players to represent themselves as an industrial body at both the state and center. The budget could enhance support to the pharmaceutical packaging industry in the same fashion as its support players in the pharmaceutical space through additional export and pricing benefits as maybe available or through regulation of taxes directly or indirectly towards benefits provided for research based product development.
It would inadvertently motorize the growth of players who have a keen interest in the development of packaging technologies for the growing FDA approved contract manufacturers as present in India for the pharmaceutical majors. An additional export benefit towards the import of materials for conversion from regulated markets and their export back to their parent countries is a model that bodes well with our manufacturing capital. Such innovative models and solutions could be harnessed if supported by budgetary benefits.”