What are Jacob Jose's key budget expectations for India's engineering sector?

Jacob Jose expects rationalized customs duties on raw materials, incentives for capacity expansion, and sustained focus on infrastructure development.

How can India boost its capital goods manufacturing?

Targeted incentives, R&D support, and improved infrastructure like ports and logistics can significantly boost capital goods manufacturing.

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Clients increasingly seek energy-efficient, automated systems with digital monitoring and advanced dust control solutions.

Home / Business and Economy / India's Capital Goods Sector Seeks Budget Boost

India's Capital Goods Sector Seeks Budget Boost

22 Jan

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Summary

Companies need customs duty rationalization for materials.
Incentives for capacity expansion crucial for growth.
Focus on ports, power, mining, and logistics infrastructure.

India's Capital Goods Sector Seeks Budget Boost

Jacob Jose, CEO and Managing Director of Methods India, has outlined key expectations for the upcoming Budget concerning the capital goods and engineering industry. He emphasizes the critical need for strategic policy support to enhance innovation and competitiveness within the sector, particularly given the rising demand in bulk material handling.

Jose advocates for rationalizing customs duties on essential raw materials and components, alongside providing incentives for capacity expansion. These measures are crucial for engineering companies to effectively manage cost pressures and achieve responsible scaling. He also stresses the importance of faster project clearances and predictable capital expenditure outlays, with a continued emphasis on infrastructure development in ports, power, mining, and logistics.

Furthermore, ensuring timely payments on public sector projects is identified as vital for maintaining healthy cash flows and efficient execution of large turnkey contracts. The industry requires focused support through production-linked incentives, accelerated depreciation, and R&D grants to build globally competitive capabilities and reduce import dependency.