Acceleration in disinvestment and asset monetisation programmes besides robust direct and indirect tax collections will give Government legroom to bring in fiscal discipline and continue with the reform agenda. There is revival of private capex and further expansion of schemes like PLI will help domestic manufacturing.

Budget should give a big push to adoption of Industry 4.0. This is the future of manufacturing and if India has to emerge as a manufacturing superpower, this area needs very special attention.

Budget should also consider sops/subsidies/ tax credits for companies investing into 3D Printers and hybrid additive manufacturing systems. Parts being manufactured by alternate technologies other than conventional should also be provided tax exemptions.

Import Duty & GST exemptions must be provided for 3D Printers/Consumables & 3d Printed Parts being imported or manufactured locally to increase the utilisation of 3D Printing by industries large &small.

More investments into R&D through universities and technology funds for joint development between universities and local industries to boost the manufacturing segments.

Special Schemes for adoption of technology for agriculture, small scale industries & handicrafts for development of rural industries to push exports.

Special focus on Training through ITI, National & Regional Skill Development Agencies for MSME and Industrial skill development related to Alternate Manufacturing Technologies.

Additional outlay for common facilities for additive manufacturing under Government sponsored clusters will help create an ecosystem for helping local industrial units to learn, understand and adopt technological advancements for on demand and lean manufacturing. The capital subsidy and interest subvention on investment in equipment for 3D Printing will give further boost to investment in this sector. The domestic manufacturing of 3D printers should be given a boost by covering it under the PLI scheme.

Views expressed by Tej Prakash Jain, Managing Director, Monotech Systems Ltd.

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