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  • Pre-Budget quote from Nippon Paint India

    Published on January 27, 2022

    “The government has been taking great initiatives to develop the industry and boost the economy. As the nation stands at the cusp of a new multiyear economic upcycle, fuelled by rising investments, the upcoming budget 2022 will play a key role in determining India’s growth strategy. The government should consider more incentives for investments made towards research and development, increasing RoDTEP (Remission of Duties and Taxes on Export Products) rates, and enhancing incentives to promote ‘greener’ technologies. Tax reductions, uniform GST rate and investment in infrastructure development are also key considerations for the FM to ponder. We in the industry are keen to accelerate skill development, import substitution and build greater supply chain resilience and we are expecting some government interventions here. Finally, the government must look at controlling fuel prices and the exponential rise in commodity prices to boost buying sentiments of the consumers.” By Mr. Sharad Malhotra, President – Automotive Refinishes and Wood Coatings, Nippon Paint India

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