Union Budget 2019:Envisions growth in HVAC&R industry

Industry leaders view the union budget 2019, as a positive reckoning move to bolster the Indian manufacturing, as the government and the industry leaders are emphasising on localising HVAC&R products further considering for exports.

We are glad to see the direction given by the government by outlining the key areas as a part of the broader vision for the future – with ‘Energy for all’, at its very core. It is a well balanced budget with a clear push towards the socio-economic growth and development of the country. The focus given to provide ‘access to energy’ to each and every household in the rural and urban areas is very progressive. One thing, we found interesting in the union budget is, electric mobility and government’s focus on sustainability. If we look into the electric mobility vehicles, particularly, our focus will be completely on the suppliers and manufacturers of electric vehicles. We are already suppliers in the automotive industry, and are associated with brands like, Tata, Suzuki, Volkswagon among others. So, I think, since the government is focusing on the electric mobility, the existing suppliers will continue to cater to the industry, and may bring in new suppliers for the lithium batteries among the new and trending required products.
Atlas Copco India, Cornad Latham, General Manager, Compressor Techniques

The budget has been limited both on Startup boosting schemes as well as focus on sustainable balanced growth keeping environmental aspects in mind. How good will it be to have economic abundance with sick or unhealthy citizens! The union budget did not account for these aspects. Moreover, it has limited reaping benefits for Make in India, because of government compulsive reasons not much has been done labour or other associated reforms that are must for “Make in India” to happen. Manufacturing is a long gestation investment driven vision, wherein consistency in policy is must but it seems missing. From the cleantech industry perspective, the government vision for EV vehicles and renewable energy focus is a long term policy vision which has to be further boosted to other aligned sectors as well. Like energy, water, and air are serious issues that as a growing economy we need to address, further incentives will help to boost local R&D and solutions. There is a lot that needs to be done, surely the government is doing what it can but industry and corporate should be incentivized to adopt environment-friendly approaches rather a single rule of compliance. I think carrot and stick both should work together.
Himanshu Agarwal, CEO, Magneto Clean-Tech

In my view, they should look at it in a positive way as in the current budget the government has increased custom duties on certain components and finished goods which are imported, this will give boost to local manufacturing and the government’s focus initiative of “Make in India”. The government is pushing hard to boost the local manufacturing industry in india which is a very good news for the local industry and same applies for HVAC also. These initiatives are laying the way for Government’s vision of doubling GDP over next five years. The push by the government for manufacturing assumes utmost importance at this time as a favourable industrial policy could propel the country into a manufacturing and exports centre.
Shashi Shekhar, Managing Director, Camfil

There is a visible push for new age technologies and digital solutions as the budget specifically mentioned the importance given to Artificial Intelligence, Internet of Things, Big Data and Digital India – which are an integral part of the long term vision. With an eye to boost up the economic growth and Make in India, the proposal to launch a scheme to invite global companies to set up mega-manufacturing plants is laudable. All in all, it is encouraging to see the Government’s continued focus on the programs- UJALA, Saubhagya and UDAY Yojana as key initiatives to the nation’s economic growth, with an even greater focus on digitisation to boost the rural economy”.
Anil Chaudhry, Zone President and MD, Schneider Electric-India