Consistent tax policies to help mfg sector in India

Posted By: Staff
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Expressing keenness in partnering with India for setting up smart cities, Cisco today said consistent tax policies and market access will enable growth of the manufacturing sector in the country as well as help the networking solutions giant boost its presence here.

Cisco Chairman and CEO John Chambers today met Secretary in the Department of Industrial Policy and Promotion (DIPP), Amitabh Kant and discussed various issues such as hurdles that the company is facing in India as well as their experience in developing smart cities.

During the meeting, Cisco said "they are very bullish about India's growth" and are willing to redouble their efforts to increase their presence in the country, according to a source.

Chambers is believed to have told the secretary that "market access and a consistent tax policy" are required to set up manufacturing base.

"The company also wants to partner India in setting up of smart cities. According to them, the company is involved in smart cities that are successful in the world," the source said.

In its election manifesto, Bharatiya Janata Party (BJP) talked about developing 100 smart cities.

The company is already engaged in Information and Communications Technology related matters for smart cities proposed under Delhi-Mumbai Industrial Corridor project.

India has proposed smart cities with modern infrastructure under the Delhi-Mumbai Industrial Corridor project. These cities would have self-sustainable habitats with minimal pollution levels, maximum recycling, optimised energy supplies and efficient public transportation.

After the meeting, Chambers told reporters that the company appreciates the way the new government is moving, mainly in areas like digitisation, bringing benefits of Internet to all citizens, healthcare, education and job creation.

"India has a very bright and prosperous future. We are open to the key goals of the government. Electronic manufacturing is something we could take a hard look at. We laid electronic manufacturing in China 15 years ago and brought the concept of electronic manufacturing and outsourcing in China," he said.

He added that the company spends about a billion dollar per year in India.


Read more about: tax, cisco, bjp
Story first published: Friday, June 27, 2014, 14:57 [IST]
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