Exclusive: Schaeffler India MD and CEO Harsha Kadam lists 5 demands for Budget 2021

Budget 2021 Expectations: In today’s edition of News Par Views, Zee Business Managing Editor Anil Singhvi spoke to Harsha Kadam, Managing Director (MD) and Chief Executive Officer (CEO) at Schaeffler India. The company is now ready to tie-up with Tesla and is also ready to produced Electric Vehicles (EV), the work on which has already begun (#NewsParViews)

Exclusive: Schaeffler India MD and CEO Harsha Kadam lists 5 demands for Budget 2021
he Budget 2021 offers a big opportunity to turn around the sector, he added. He lists five things that should be in focus in this year's budget
Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Wed, Feb 17, 2021
02:43 pm
New Delhi, ZeeBiz WebDesk
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Budget 2021 Expectations: In today’s edition of News Par Views, Zee Business Managing Editor Anil Singhvi spoke to Harsha Kadam, Managing Director (MD) and Chief Executive Officer (CEO) at Schaeffler India. The company is now ready to tie-up with Tesla and is also ready to produced Electric Vehicles (EV), the work on which has already begun (#NewsParViews).

Kadam said that even before the pandemic started, the auto sector was already hit badly. The Budget 2021 offers a big opportunity to turn around the sector, he added. He lists five things that should be in focus in this year's budget.

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One is there should be more clarity on the Government announced Production Linked Incentive (PLI) scheme. This will enable in bringing more investments into the sector. The second area is to bring in the scrappage policy as soon as possible. There should also be a push to the MSME sector along with reduction in the Goods and Service Tax (GST). This will help the domestic market to grow further. It will also be useful in generating more employment.

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There should also be more clarity on the policy regarding the EVs, he further said. The government's attention is required in this segment.

The fourth demand is regarding the input cost. There should be reliefs on duties imposed on import of raw material and technology, he said.

Ant the fifth demand was to put a greater emphasis on exports, which will invite new foreign investments.

Road Ahead for Schaeffler

It has been Schaeffler's endeavour to make new investments every year and this will continue. The company's goal is to grow it and take it to the top, the MD said. Any government help would be crucial. The PLI scheme has been introduced to incentivise automobile manufacturing. But there needs to be more clarity on how to implement it, he said.

The sector is expecting some clarity on this in this budget, he further said.

On EVs

The company has been working with all major brands in Europe and have given a lot of innovative products. As far as the US operations are concerned, the company has been working with Tesla. Tesla has announced its entry in India and the company is ready to offer its services. Schaeffler has the technologies to meet the requirements.

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