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Telecom equipment firms told to make the most of FM’s largesse

Telecom and Electronics & Information Technology Minister Ravi Shankar Prasad on Friday appealed to telecom equipment manufacturers to avail the benefit of the taxation related announcements made by the Finance Minister Nirmala Sitharaman on Friday.

“Mobile manufacturing, consumer electronics and telecom equipment manufacturing, and all the other manufacturing ecosystem will get a boost because of this decision. I have also reached out to leaders of this sector and they are thrilled to hear about it. Now India’s taxation regime, which is almost 50 per cent down, is as exciting as many of other countries,” Prasad told reporters here.

‘Boost for Make in India’

It is also a booster for the ‘Make in India’ initiative, he said adding this could be the best gift to the overall industry, especially when the festival season is around the corner.

Referring to the recent (September 16) meeting of CEOs round-table from the sector, Prasad said many companies are already willing to come to India, but wanted some clarity on the tax regimes of the country. So it is now all clear about India’s intention of treating global companies if they are willing to invest here.

“What India offers right now is a stable government, a growth-oriented Prime Minister, investor-friendly policies and good human resource that are all required for a better ecosystem. We also have a big market within our country, apart from promoting exports in a big way,” Prasad added.

Source: The Hindu