Expectations – Union Budget, USIBC

The US-India Business Council has recommended that the Indian government introduce production-linked incentives for the media and entertainment industry in the upcoming Union Budget.

USIBC pitched for liberalising the satellite communications industry and taking measures to create a level playing field for Indian and foreign financial services firms and reduce friction in the flow of capital between the two countries.

The body suggested developing a long-term transition plan to commercialise Indian National Satellite System (INSAT) and enable space platforms and infrastructure.

“While benefiting all digital manufacturers, our semiconductor members have emphasised several ease-of-doing-business (EoDB) policies. USIBC recommends that the Indian government introduce production-linked incentives for the media and entertainment industry in the upcoming Budget,” the trade body said.

Given the global demand for content and India’s competitive production costs, these incentives would position India as a leading hub for content production exports.

The adoption of advanced technologies such as visual and special effects (VFX), 3D/4D formats, drone shooting, and animation could be further supported by these incentives, similar to those in the information technology (IT) and IT-enabled services (ITeS) industry, enhancing India’s attractiveness for international media production.

USIBC recommended a balanced intellectual property rights (IPR) policy to facilitate technology transfer and bolster FDI, enhancing the effectiveness of schemes like the Production Linked Incentive (PLI) Scheme.
BCS Bureau