Industry Sectors

To deepen the Corporate tri-party repo market in Corporate Debt securities, the Government will work with regulators RBI/SEBI to enable stock exchanges to allow AA rated bonds as collaterals.

To further promote domestic manufacturing heavy industries, the Finance Minister Nirmala Sitharaman has proposed in 2019-20 Budget customs duty reductions on certain raw materials and capital goods needed for nuclear power plants.

Indian Micro, Small and Medium Enterprises, with niche security-sensitive technologies, are exploring export markets, having showcased their products at the Interpol World 2019 conference and exhibition held in Singapore 2-4 July 2019.

The 2019-20 Budget has proposed Rs.400 crore allocation for creating world class educational institutions which will among others measures woo foreign students to Indian institutions.

The Indian animal husbandry market is projected to reach Rs.7,600 billion by 2024, exhibiting a CAGR of 11.8% during 2019-2024.

India has proposed to impose the world’s highest surcharge on income tax of rich and super-rich which will see the wealth movement out of the country for tax-havens.

The Indian smart kitchen appliances market, which includes refrigerators, ovens, hoods, blenders, coffee makers, scales, cookers and dishwashers, is estimated to increase revenue at cumulative annual growth rate (CAGR) of 11.8% by fiscal year 2026.

The 2019-20 Budget addresses some of the basic challenges faced by manufacturing and exports including flow of credit, infrastructure bottlenecks, labour laws, skilling among others.

Right amount of stimulus in the 2019-20 Budget would unleash the animal spirits, fire up the economy, and the move to provide 25% corporate tax to a large number of companies would see corporate earnings ploughed back in the investments.

The 2019-20 Budget has a clear action plan for making of a US$5 trillion economy over the next few years, said the Federation of Indian Chambers of Commerce and Industry (FICCI) President Sandip Somany.