Electronics cos seek support for local TV mfg in Budget
TV manufacturing sector, despite contributing nearly $12 billion to the economy, is yet to get its due
image for illustrative purpose
New Delhi: Electronics manufacturers on Thursday urged the government to prioritise comprehensive support for the local manufacturing of electronics, including the television industry, on the lines of mobile devices.
While mobile phone manufacturing has benefited from numerous incentives, the TV manufacturing sector, despite contributing nearly $12 billion to the economy, is yet to get its due, they said.
“The long-awaited production-linked incentive (PLI) scheme should extend its benefits to televisions or provide alternative manufacturing incentives, particularly for smart TVs,” said Arjun Bajaj, Director of the home-grown manufacturer, Videotex.
Additionally, the classification of TVs larger than 32 inches under the GST slab for luxury goods is outdated.
“Televisions are no longer a luxury item but a necessity for over 200 million households in India. Revising this GST classification would make TVs more affordable, thereby boosting the sector and making these essential devices more accessible to a broader population,” suggested Bajaj.
The industry is reliant on imports for critical components like semiconductors and display fabs, predominantly sourced from China and Taiwan.
While the government has initiated efforts to establish semiconductor manufacturing in India, it is crucial to expedite these projects and also focus on developing domestic display manufacturing capabilities, said industry players.
