Budget 2022

'Budget proposals will spur demand for consumer electronics items'

Our Bureau | | Updated on: Feb 01, 2018
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Rajeev Jain, Chief Financial Officer, Intex Technologies , says the Budget is focused towards enhancing the Make in India initiative in critical electronic industry, particularly mobile phones.

"The Budget will spur the demand side of the economy by proposing various rural income enhancement scheme. This will in turn will rejuvenate the overall economic growth and spur demand for consumer electronics items like mobile phones and LED TVs thereby fuelling domestic businesses," he said.

Intex has a strong presence in Tier 2 and Tier 3 markets. 

According to Jain, the Centre's  move to walk the talk on “Make in India” by increasing the Customs duty to 20 per cent on imported mobile phones and in PCBAs of accessories like batteries & chargers (15 per cent), will give a big boost for localisation and setting up of a domestic component ecosystem. 

“This (Customs duty increase) is a big thumbs up to domestic players like Intex, which have been developing domestic capacities since long in electronics manufacturing,” he said.

The Budget has also increased the duty on certain LED TV components such as LED panels (15 per cent). The move will push for developing capacities for local manufacturing of components.

“Such move encourages Intex that has been working on enhancing domestic capacities and has recently began its own open cell manufacturing or LED panel manufacturing to improve quality control,” he said.

Published on February 01, 2018

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