India Budget 2018
As far as IoT deployments are concerned, devices form a key input. To bring down capital investments, we need to seriously look at lowering tax on hardware from 18 to 5 percent. This will give a fillip to IoT projects in the country. Another area that needs attention is the need to rationalise the spectrum license fees so that more MVNOs can enter and reduce connectivity bottlenecks. Banks should look at relaxing their norms for start-ups (as a subsidy or by offering soft interest rates for loans). This will improve access to working capital for vendors and eco-system participants involved in IoT projects.
In order to provide a steady impetus to initiatives such as Make in India and Digital India, our manufacturing sector needs to ramp up. Towards this, we need to work towards providing tax sops and liberalise norms to ensure greater access to working capital.
Dr. Rishi Mohan Bhatnagar, President, Aeris India
[Mr. Bhatnagar is also the Chairperson of The Institution of Engineering and Technology – IoT panel for India]