Budget 2021 Expectations: In today’s edition of News Par Views, Zee Business Managing Editor Anil Singhvi talks to Schaeffler India’s Managing Director (MD) and CEO Harsha Kadam. The company is now ready to partner with Tesla and is ready to produce electric vehicles (EVs) that are already under construction (#NewsParViews).
Mr. Kadam said the automotive sector had already been hit hard, even before the pandemic began. Budget 2021 provides a great opportunity to turn the sector around, he added. He lists five things to focus on in this year’s budget.
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First, the government-announced Production Linked Incentive (PLI) scheme needs to be clarified. This allows you to increase your investment in the sector. The second area is to implement scrappage incentive policies as soon as possible. Along with the Goods and Services Tax (GST) reduction, we also need to push into the MSME sector. This will help the domestic market grow further. It also helps create more jobs.
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He added that the EV policy should also be clearer. Government attention is needed in this area.
The fourth requirement is about input costs. He said there should be a reduction in the obligations imposed on the import of raw materials and technology.
The fifth demand was to focus more on exports, which would lead to new foreign investment.
The future path of Schaeffler
Schaeffler has made every year efforts to make new investments, which will continue. The company’s goal is to grow it and bring it to the top, MD said. Government assistance is very important. The PLI scheme was introduced to encourage car manufacturing. But he said he needed to be more clear about how to do that.
He added that the sector hopes this budget will make this clear to some extent.
The company works with all major European brands and has provided many innovative products. As far as the US business is concerned, the company has worked with Tesla. Tesla has announced its entry into India and the company is ready to serve. Schaeffler has the technology to meet your requirements.
Exclusive: Schaeffler India MD and CEO Hasha Madang lists five requirements for the 2021 budget
Source link Exclusive: Schaeffler India MD and CEO Hasha Madang lists five requirements for the 2021 budget