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Manoj Gupta, Founder, Craftsvilla.com shares his expectation from the Union Budget 2016.
“The e-commerce segment is looking for a major boost from Budget 2016. We represent a $7 billion industry, growing at more than 40% every year. Definitely, we are looking at driving home the advantage in the future after logging some deep-rooted impact in the last fiscal.”
1. FDI in e-commerce
The Government of India should allow 100% FDI for e-commerce to move ahead of competition. Foreign investors can make strategic investments in smaller online retailers. This will also help the investor ecosystem in india to mature faster.
2. Better infrastructure
Craftsvilla is already selling in 12000 unique pin codes in India and we are eager to improve service to some of these, as well as reach out to the next set of audiences. This will require better and improved logistics such as increase in the number of warehouses, reliable transportation and postal infrastructures. (Also Read-Income tax expectations from Budget 2016: Arun Jaitley about to delight ‘aam aadmi’?)
3. Electronic payments economy
The RBI and Govt have been very pro-active in facilitating innovations in electronic payments. Indian consumers have often surprised the conventional wisdom when it comes to adopting new ways of doing things – telecom, internet. If right incentives on both supply (Merchants) and demand (Customers) side are announced in this budget session, it would push the quick and wide adoption of electronic payments.
4. Internet highways
The internet is an enabler of growth. Allocation of budget for creating a robust network of Internet connectivity across India is elementary. In the union budget we wish to see avenues of public private participation with telecom Operators. The same is the key to Internet growth; unless our telecom providers do not fuel our masses with bandwidth and affordability, Digital India would be a distant dream.
5. GST
GST would be a game changing reform, it will enable a country wide, single market with reduced transaction costs for businesses and controlled economic volatility.
6. Decoding the Start-Up India 9 point plan
PM Modi outlined several initiatives. To name a few, there is the Startup India hub, startup fests, innovation core programs for students in 5 lakh schools, setting up of 35 new incubators in institutions, 7 new research parks and an innovation focused programmes. As entrepreneurs, it would be great if the budget could clarify how we can contribute to these.
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