Here is what the top names of the automotive industry think of the new budget:

towards road-building and reduction in corporate tax rate from 30 per cent to 25 per cent over the next four years. The overall economic recovery and growth with positive parameters, GDP, rupee growing stronger, etc, are a source of excitement for any business operating in India.

“The Honourable Finance Minister has also indicated proposing plans for further ease of doing business, which is an added boost for the overall business environment. Further, the government’s sincere focus on rural development and allocation of a huge sum of Rs 34,699 crore for rural growth is a good move as companies plan to target the untapped potential of the rural market. Next, the intentions of making India a manufacturing hub through the ‘Make in India’ campaign will also give manufacturers under the auto sector an added advantage. Also, the initiatives on skill development will provide for skilled labour and expertise in our respective sectors.” in. But the need of the hour is a more conducive environment. To support the ‘Make in India’ campaign, it would also be good to see some relaxation in the clearance procedures for infrastructural projects.

“Another interesting approach the government can take which can effectively boost the premium motorcycle industry in India would be to cut import duty on products which don’t conflict with the already existing Indian manufacturers. For instance, reduce duty on motorcycles that are 800 cc and above. No Indian manufacturer sells in that segment and hence will not adversely affect the Indian grown businesses and will simultaneously support foreign luxury manufacturers.

“For any manufacturer, the expectation from the government will just be with regard to making the environment more encouraging and also to trim down the extremely high duties allowing us to be relevant to a larger section of people.”