Union Budget 2023 The Sweet Spot For Suppliers

The auto components suppliers are ready with their wish lists. Ashish Bhatia runs through them as Union Finance Minister Nirmala Sitharaman will present the Union Budget 2023.

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The attention has shifted to Union Budget 2023. While government interventions sought by the Original Equipment Manufacturers (OEMs) also represent the expectations of the auto components industry, tier suppliers and ancillaries have their own independent wish lists. The Finance Minister, Nirmala Sitharaman has her task cut out as she sets herself up on behalf of the BJP-led government to present in the parliament on February 01, 2023. Fresh from the demand to bring the sector under Goods and Services Tax (GST) sidelined by the Govt. last year at the Automotive Component Manufacturers Association (ACMA) Summit, the industry has taken developments since then in its stride. Having posted a record turnover and going strong in its objective of advancing technology to meet the current and future needs of the automotive sector.