Budget 2022 Expectations from Business Leaders in Niche Segments | #3

Apart from the regular industry business leaders, Thought Habitat is getting comments from business leaders in niche segments too. It is to be noted that, growth of these segments in India is defining widespread globalization standards.

Here are the budget 2022 expectations from some business leaders from niche segments.

Varun Vashisthaa, Founder, HairVeda

The pandemic has been full of ups and downs for several industries worldwide. According to Health Union Minister data, the Ayurveda economy has witnessed up to 90 percent growth after the COVID-19 pandemic since Ayurveda has gained global acceptance.

We are expecting a waiver of GST on the products with a license to sell as Ayurvedic products/medicines. Later, It will be passed on to consumers in the form of price cuts and this initiative will lead to increased consumption of Ayurvedic products. T

The government of India should support the private sector in such a way that it will see decreasing indulgence and reliance on imports of API’s (Active Pharmaceutical Ingredients) and more focus on indigenous Ayurvedic products/medicines in line with the Prime Minister’s Atma Nirbhar Bharat Vision.

Navneet Ravikar, Chairman & Managing Director, Leads Connect Services

I wish to begin with my appreciation for the move by ISRO to open the Indian Space Sector for private companies. It is a very required and pertinent action as human civilization is currently facing many threatening challenges. It is therefore required that we should root for inclusive participation.

In a similar direction, we expect very dynamic actions in the union budget as well. Dedicated research & development funding should be allocated for private companies to encourage private research labs working in the specific area of Agriculture, Disaster Management and Climate Change.

A climate change fund needs to be introduced to promote Climate smart agriculture practices. Incentive for manufacturing drones and its software should be provided.

Divya Jain, Director  & Founder, TCO1

In the present times of pandemic, online education has proven to be a boon for the parents and students. The scope and reach of online learning tools has made sure students don’t lag behind in their studies and continue their academic journey without any challenges. Edtech platforms have been the safest contributor. We expect that in the upcoming budget, the central government will closely look into introducing some prominent reforms for it.

One of the key expectations from the edtech industry is to reduce the GST slab of 18% to 5% for financial assistance and support. This will make the industry an attractive proposition for driving investments. The NEP 2020 was a visionary step for the industry, we expect moves on such lines that can bring about pivotal change in the remote learning sector.

Abhishek Negi, Co-Founder, Eggoz

Agri startups are revolutionising the Indian agriculture and we expect government’s continued support to keep up the growth rate. One of the major issue agri start-ups faces early on is raising capital and getting funded. Our key demand from the government is to set up a start-up growth fund for early stage agri start-ups and possibly a dedicated cell at the centre or state level to solve issues for agri start-ups.

Additionally, Agri-tech and related startups are also in need of cheaper financing and debt solutions for working capital or machinery investments. While government has made many schemes at a policy level, we expect robust direct dissemination or via banks, so that startups can utilize the credit available and grow their business and generate employment.

As the agri start-ups are solving problems across value chains for the Indian agriculture, a special focus on infrastructure, R&D and a policy framework for agri start-ups will go a long way to empower them. It is now time that the Indian government build its own rural incubators to support rural youth to build their own entrepreneurial models.