Union Budget 2013 is positive for consumer durables & electronics industry: Anirudh Dhoot, Director, Videocon

NEW DELHI: It is encouraging to promote set top box manufacturing by increasing import duty from 5% to 10% and boost local manufacturing of high tech electronic products in India, said Anirudh Dhoot, President – CEAMA & Director, Videocon, hailing the Union Budget 2013 presented by Finance Minister on Thursday.

"The Finance Minister has a given balanced Budget and kept the basic tax structure unchanged except increase of surcharge in some cases," said Dhoot.

Focus has been given to infrastructure and development of science and technology.

"As far as electronics industry is concerned, it is encouraging to promote set top box manufacturing by increasing import duty from 5% to 10% and to boost local manufacturing of high tech electronic products in India."

Excise Duty on mobile phone above Rs 2,000 was raised from one to six percentage on the basis of MRP. So mid and high end mobile phone will get costlier.

If an MSME grows into a larger enterprise, benefits or preferences will continue up to three years after its growth and this will give incentives to MSME to grow to their potential.

"Overall, the budget is positive for the consumer durables & electronics industry," said Dhoot.