Satyakam Arya, MD and CEO, DICV

India as the innovation capital of the world.

Autocar Pro News Desk By Autocar Pro News Desk calendar 21 Jan 2022 Views icon9088 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

The budget should consider that the Covid is not over yet. The likelihoods that Omicron may influence Q1 of FY2022 is a reminder to all of us that there could be waves in the future as well. The good part is that we have learned quite well to live with the pandemic, but it is still affecting business and livelihood in one way or the other.

This year, I would like the budget to give a renewed thrust and a much-needed impetus to the manufacturing sector to help continue the spirited performance that some sections of the industry have shown in 2021. PLI and RODTEP are great steps in the right direction and the aim going forward should be to simplify the schemes and focus on the benefits spreading across the industry, in addition to the bigger players. High fuel prices are affecting livelihood, there is a substantial rise in commodity prices and the general cost of living has risen noticeably.

The government to further unleash the potential of Global Capability Centers, MSMEs and start-ups. In the long term, this can shape India’s future as an “Innovation and Invention capital of the World”, which will also benefit the manufacturing industry from all aspects. India has the potential to achieve the highest rate of economic growth in the coming years, as the world comes out of Covid, and a budget that focuses on unleashing that potential, could be a game-changer.”

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