“As we eagerly anticipate the unveiling of the Union Budget for 2024, we applaud the government’s ongoing commitment to the “Make in India” initiative, fostering the growth of indigenous manufacturing capabilities. We hope the forthcoming budget will further strengthen this program, providing incentives and support for the domestic production of high-quality electronics, including monitors. In alignment with the government’s focus on Production-Linked Incentive (PLI) schemes, we anticipate continued encouragement for the electronics sector. Additionally, third-party manufacturers should receive incentives and benefits through Production Linked Incentives (PLI). Enhancements to existing schemes or the introduction of new ones specific to display technologies can significantly boost local manufacturing and make India a global hub for monitor production. To foster innovation and R&D in the electronics industry, we look forward to policies that incentivize technology advancements, product design, and sustainable practices. Support in these areas will contribute to the development of cutting-edge technologies meeting the global standards.”
He further adds, “A rationalized customs and import duty structure would play a crucial role in making raw materials and components more accessible and affordable to the companies, boosting the economy and new innovation. A suggestion would be to put anti-dumping duties on refurbished products imported from China to ensure fair market competition. Furthermore, the government must establish comprehensive rules and regulations to regulate the domestic sales of refurbished products as well effectively.”
