HOW INDIAN INDUSTRY REACTS

MANUFACTURERS HAIL THE GOVERNMENT'S BUDGETARY MOVE TO ACCELERATE ECONOMIC GROWTH WITH PUSH TO INFRASTRUCTURE DEVELOPMENT, SUITABILITY AND DIGITALISATION

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V ANBU

Director General & CEO, Indian Machine Tool Manufacturers' Association and Bangalore International Exhibition Centre

The robust allocation of Rs 7.5 lakh crore (up by 35.4% Y-O-Y) as capital expenditure for FY 23 would give a boost to commercial vehicle sales domestically, especially in the medium and heavy commercial vehicle segment. It will also create a buoyancy to meet and sustain demand for different industry sectors besides augmenting machine tools demand.

The extension of the Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023 and extending it with a focus on hospitality and related enterprises will help mitigate the adverse impacts of the pandemic. Indian machine tool industry is dominated by MSMEs and this measure will help making the industry more resilient and competitive."

ANIL CHAUDHRY

MD and CEO, Schneider Electric India Pvt. Ltd.

"The FY23 Union Budget lays strong impetus on sustainable development. Sustainability has steadfastly become an urgent priority and the proposal to issue sovereign green bonds for building green infrastructure will go a long way in creating a low carbon future and reducing carbon intensity of the economy. This is in line with the government's commitment on climate action at COP 26.