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00:00We also have Atul Lal, Vice-Chairman and MD of Dixon Tech joining in.
00:04Hi Atul, it's Amina. Thank you very much for talking to us right after this budget.
00:08First up, before we go into the BCD reduction, mobile and chargers,
00:12how are you reacting to this budget?
00:17You see, I would like to really compliment Honourable Finance Minister.
00:20Please appreciate we are a highly labour-intensive manufacturing industry.
00:26And certain steps that have been taken to encourage and incentivize
00:33labour involvement, operators' involvement, I think it's highly commendable.
00:39Particular emphasis on the skilling on internships are most welcome.
00:46And also a special focus on MSME industry, because that's the backbone.
00:52Please appreciate the electronic manufacturing industry is in a formative stage.
00:58It is growing extremely fast. It's hugely labour-intensive.
01:03And for creating an ecosystem, the MSME support is required.
01:07So I strongly feel it's a very positive budget for our labour-intensive industry.
01:15Zilal, just very quickly, very specific to your industry.
01:19And I know we've got a, it's commendable.
01:21We've managed to pull off a good budget, not disturb too many things,
01:25still focused on Vixit Bharat, focus on employment.
01:28So lots of good things as well.
01:30But one thing that maybe Dixon could get impacted is the BCD reduction on mobile and chargers.
01:37What does this mean for a company like yourself?
01:39What's your reaction to this?
01:41No, no, no, please be rest assured that mobile manufacturing in India has reached a stage
01:47that all the mobiles being sold in India will be manufactured in India.
01:51That's the kind of depth the industry has.
01:54And a large portion of that is going to be exported.
01:57So this reduction of custom duty on the CBU imports of mobile from 20 to 15% or on chargers
02:05is not going to have any negative impact on the industry.
02:08I feel that it's not having any impact at all on the depth and the breadth
02:15of mobile manufacturing in the country.
02:17In fact, it's going to deepen.
02:19Zilal, would you have expected more on the PLI schemes?
02:24That was something that was being talked about consistently, that PLI schemes have worked.
02:29Your company is, of course, a shining example of how well they work.
02:32That there would have been more push towards the PLI schemes.
02:36That there would have been more push to extend manufacturing.
02:41Do you think that that is something that you would have hoped to see?
02:46So we in the industry, through our associations, have been working very closely with the government
02:52for rolling out an incentive package for the electronic component industry,
02:57which is beyond semiconductors.
02:59And the government response on that has been extremely positive,
03:01because that's what helps in enhancing the value addition.
03:05So I think it's going to happen, because the response is very welcoming.
03:11And I think it's going to happen besides the budget.
03:14Yeah, it's something different, but it's going to happen.
03:17That's a policy package we're expecting.
03:19In any case, we were not expecting that to be announced in the budget speech.
03:25So that's what we are working on, because that's an important imperative
03:29for creating a competent ecosystem and deepening the electronics manufacturing ecosystem.
03:34Yep.