Budget 2016 expectations: We anticipate increased activities in manufacturing on the backdrop of government initiatives such as ‘Make in India’ which will foster employment and growth across industries.
We also welcome initiatives such as National Chemical Policy, Tax reforms and initiative on ease of doing business which will simplify country’s business environment and reduce bureaucratic cost of doing business.
At the same time these initiatives will help to promote healthy environment of transparency and conduciveness for sustainable business growth in the country. We hope that the government looks at investments for enhancing the chemical sector to create value for the technology intensive chemical industry.
We urge the government to provide strong impetus and tax sops for R&D to catalyze local manufacturing and bringing in new technologies. In the light of these, we hope the Government will take the necessary steps to drive the next phase of growth for chemical sector.
By Ajay Durrani, MD, Indian sub Continent, Covestro