After the success of Swachh Bharat, Cooking Gas and Electrification of villages – the next big thing is piped water to every house. I think major budget should be allocated to water problems. Chennai is going through major water problems and the global media has addressed the issue. There may also be an allocation for MSME development budget like earlier NDA government did in the past term. Skill development of micro SME is extremely important for boosting local manufacturing.
Policy reforms/expectations on behalf of Indian AV industry
Local manufacturing for displays will grow as government continues to boost incentives for exports and fulfil local demand. Samsung has already planned for a 1500 cr plant in Uttar Pradesh, which is expected to be operational by April 2020. With the likes of the rest will follow. GST could come down to 18% from 28% for projectors and larger televisions; this could possibly add more money in customers pocket to spend on bigger displays.
Beyond AV industry
The automobile industry is struggling to get back on track. Maruti Suzuki, the market leader reported drop in sales consecutively. Maruti sells volumes in the entry level segment and the sales majorly come from Tier 2 and Tier 3 cities. The reason for drop in sales could be due to less disposable income left over due to inflation and other factors. There should be a major booster for spending to put confidence in consumers mind to get the ball rolling for 9% GDP growth plus in coming years.
