Dr. Kaustubh Nande, Country Marketing Head, Ansys India
There is a need to initiate a conducive tax environment and provide clarity in tax laws. This will provide a much required boost to existing businesses and at the same time, encourage new investments. We also need to focus on bringing back investor confidence.
For the Automotive industry, we need Budget allocation for supporting development of hybrid and electric vehicles. The custom and excise duty concession on select hybrid/electric vehicles parts should be available for a much longer period.
The finance government should unveil measures that will enable businesses to drive digital initiatives for sustaining long-term innovations in the country. We need more friendly policies, including tax holidays and interest subsidies to provide a fillip to the IT hardware industry. We also hope the government acts on the tax structure and policies. We need to ensure the legal procedure does not act as a roadblock for companies that are doing or want to do business in India. Thus, the tax structure needs a complete rejig to bring in more transparency and accountability.
A powerful co-ordination of system integrators, solution providers, mobile operators and of course, the government is needed to boost the IoT ecosystem in our country. The government should facilitate this with more focus on R&D development by funding incubation and research centers.
