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Pre-Budget 2020 - Expectations from Indian Business Leaders.

Budget 2020 is still couple of weeks away but today it becomes a discussion point in every business. Here we bring you some of the expectation and quotes from industry leaders.

John Baby, CEO, Funskool India
Mr. John Baby, CEO, Funskool India Said, “We urge the government to bring in reforms in this budget to make manufacturing and retailing blossom under the purview of 'Ease of doing Business'. We hope that there are stricter quality standards are introduced to keep a check on illegal imports and help the toy industry in India grow and expand to the next level. We expect that the government takes steps that improves household incomes and spurs toy retail for the long-term, in the country.

Mr. Sunil Rallan Founder and promoter of J.Matadee Free Trade Zone Pvt Ltd said, “We are delighted with the government’s decision to allow all notified SEZs to operate as multi-sector SEZs. We urge the government to leverage SEZs to attract FDI in the Manufacturing Sector, furthering government’s Make in India initiative. With the creation of state-of-the-art manufacturing facilities, we hope a provision will be made to permit SEZ units to undertake subcontracting work from units in the Domestic Tariff Area. Manufacturing Services should be given the required impetus to keep up with the pace of changing technologies by the government and in turn assist in job creation. We expect the government to revise full import duty on manufactured goods supplied to the domestic market from SEZ units. Duty/tariffs levied on the “duty forgone principal” would make manufacturing units supplying the DTA competitive, boosting investment and job creation. Also, single window clearances will pave way for the SEZs to ride the new growth wave in the country. We expect the government to let SEZs harness technology and low-cost services to provide efficient and superior-value services, become hubs for global businesses and boost exports in the coming years.”

Nishanth Chandran, Founder and CEO, Tendercuts

Mr. Nishanth Chandran, Founder and CEO, Tendercuts
,“We urge the government to roll out policies to tackle the negative approach towards consumption of meat and seafood and aid in revolutionizing the meat retail industry in India. With a new generation of entrepreneurs focusing their attention towards tapping the potential of the meat and seafood industry, steps like improving animal husbandry to trigger job creation and provide subsidies and incentives to the sector to fuel the growth and consumption in the country. Also, improvements in infrastructure to supplement the rising demand, stricter food processing standards and an enhanced network of supply chain management and better implementation of cold chain logistics can allow the meat retail industry to chart the necessary progress in the coming years.

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