Budget Expectation: Midhula Devabhaktuni, Co-founder and CMO, Mivi.
“Mivi has established itself as a truly Indian audio consumer brand with products that are designed, engineered and manufactured in India. Being the first brand to manufacture all of its audio products in India as well as one of the key companies in the consumer tech segment with indigenous manufacturing facilities, government support and its vision to promote home grown brands has helped us in many ways.
In the upcoming budget, we are expecting the government to further extend its support to include wearables, hearables and home audio categories in the PLI scheme and SPECS capital subsidy scheme. These schemes will help Indian companies like Mivi and also encourage more and more brands to manufacture locally and decrease their dependency on imports. Additionally, a phased manufacturing program should be introduced for these categories in order to produce more Make In India products.“