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India has huge potential in becoming global hub for electronics system design and manufacturing: Vishwakumara Kayargadde, Co-Founder, Saankhya Labs

Saankhya Labs, a wireless communication and semiconductor solutions company. Ahead of the Union Budget 2022, Vishwakumara Kayargadde, Co-Founder and COO, Saankhya Labs, shares his views on expectations from the Budget.

“When it comes to Electronics System Design and Manufacturing, we as a country have a huge potential in becoming a global hub. The recent semiconductor-focused Performance Linked Incentive (PLI) scheme announced by the government has been a major boost for the ecosystem. The Design Linked Incentives (DLI) which is another element linked to the scheme has been beneficial for the design and fabless companies. From a Union Budget perspective, we are definitely hopeful of an MSME-centric budget from the Finance Ministry which will help in stabilizing growth and further boost this segment, especially during these challenging times caused by the ongoing pandemic. This will also help MSMEs working in the deep tech space to engage in product R&D and manufacturing. Further, in order to encourage the manufacturing of indigenously designed products, the government should also look at relaxing tax burdens, and provide tax exemptions in areas such as customs duty.” 

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