Budget comment: V Narasimhan, executive director, Brakes India ltd

“I’m very glad that the finance minister spoke about the national manufacturing policy. The automobile industry is the engine for the manufacturing industry, in terms of providing employment. But I’m quite disappointed that there was nothing special for component manufacturers. With the excise duties going up and not much reprieve for the auto industry, we’re slightly disappointed. On the other hand, the automotive sector and the component sector have contributed well to exports, there is some headway to be made by import of components, export of cars and this is already taking place. As somebody pointed out, not much impetus has been given for export items. Maybe we started with too much optimism.”