Mr. Prabhakar Kadapa, CEO & MD, AVTEC Limited, sharing his perspective on expectations from Budget 2018.
“Manufacturing industry is the largest job creator in the country and the budget should focus on giving a boost to the sector by incentivising heavy investments which in turn will create value and employment opportunities. We are also looking forward to positive initiatives on rationalization of tax slabs and removal or reduction of cess from Union Budget 2018. Since the automotive industry is spending heavily on Research and Development, the budget should give incentives to achieve the target of zero emission by 2030. We expect the government to bring in measures that will boost consumer sentiments and announce a policy roadmap that will help in improving sentiments of the entire auto components industry.”
AVTEC is part of the CK Birla Group, a growing US$1.6 billion conglomerate that has a history of enduring relationships with renowned global companies. With over 20,000 employees, 24 manufacturing facilities and numerous patents and awards, the Group’s businesses are present across five continents. The Group operates in three industry clusters: technology and automotive, home and building, and healthcare and education. Group companies are strengthened by common ownership and shared guiding principles that include a focus on long-term value, trust-based relationships and philanthropy.