The California-based connectivity solutions provider Belkin on Sunday said it will look at sourcing from the country, once the goods and services tax (GST) is implemented.
“We are keen to do strategic sourcing from here. But to do that, we need GST to come in. So we are eagerly waiting for the GST implementation,” Belkin India managing director Mr Mohit Anand told PTI here.
He explained that unless GST is in place, the company cannot buy anything in the local currency. Similarly, it also has to convert the pricing from the dollar to rupee now in the absence of GST.
“Economically it is not viable until GST kicks in and to start local currency billing. Once this new taxation regime is in place, we can also think of putting up a warehouse and do sourcing,” Anand said.
The GST is likely to be implemented from April. Once implemented, it will unify the markets in term of local taxation, which in turn, will bring down overall cost of goods and services in the country.
When asked for a time-frame, he said, “We are hopeful that it is coming from next April and when it comes, we have our plans ready to quickly get the ball rolling. I expect strategic sourcing to happen within 12 months of GST roll-out.”
Anand did not divulge the details of the products that will be sourced from here and said the plans are in abeyance, because of the non-implementation of GST.
Belkin’s product portfolio includes networking solutions, IT peripherals, mobility solutions and power surge solutions among others.