“Smart wearables are expected to continue to drive consumer interest with increasing preference for a healthier and modern lifestyle. Technology plays an important role in developing these products with the latest features. The announcement from the Finance Minister to set up three Centres of Excellence for artificial intelligence will boost the infrastructure for AI in the country and its use in smart wearables. Investment in the ecosystem of building semiconductors in India will change the industry scenario from “import led” to “export house” and will make India self-reliant in the component industry. The indirect tax proposals are expected to boost domestic manufacturing and promote exports. In addition, the relief provided to the consumer by direct tax proposals like an increase in rebate limit to INR 7 lakh, increase in standard deduction and reduction of the highest surcharge rate will boost consumption levels in the country. Overall, it is a balanced Budget that sets the right tone for the Amrit Kaal,” said Mr Sanjay Kalirona, Co-founder and CEO, Gizmore
