Pre Budget Expectations From Jaswinder Ahuja Corporate Vice President & MD, Cadence Design System Pvt Ltd
This past year, the Government of India has announced several initiatives to set the country on a path of manufacturing and design excellence under the “Make in India” banner, such as the “Digital India” and “Startup India” initiatives. These programs are expected boost to the economy and we look forward to the cascading effect on the local electronics industry.
With respect to the semiconductor and electronics industry, we are looking forward to specific announcements and programs that will provide impetus to electronic system design and manufacturing (ESDM) in India.
First, a focus on implementation of policies. There have been several policies and incentives that have been announced, and we are looking forward to their implementation. One example is DeitY’s plan to set up electronic manufacturing clusters (EMC’s) across the various states in India that will expand the investment and manufacturing infrastructure in the country. While this was announced some time ago, there has not been much movement on the ground. Also, the approval processes should be fast tracked so that companies can act quickly and take advantage of market opportunities.
Second, on a related note, the Government should simplify the process of setting up a startup under “Startup India”. The startup/entrepreneur activity in the software and services industry has witnessed a surge over the last few years, and the ESDM ecosystem has also experienced some of that momentum. However, many startups are daunted by the paperwork and regulations that have to be fulfilled in order for them to take advantage of Government incentives.
Third, support for electronics incubation centers in Universities to encourage student-led innovation.
Finally, the Government needs to pass the legislation on Goods & Services Tax with focus on reducing litigation and promoting economic growth.