Time: 2024-07-23
The US - India Business Council has put forward suggestions for the Indian government to consider in the upcoming Union budget . One of the key recommendations is the implementation of production - linked incentives for the media and entertainment sector . This move aims to boost the industry and make it more competitive on a global scale .
In addition to the incentives for the media industry , the USIBC has also proposed liberalizing the satellite communications sector . This includes creating a level playing field for both Indian and foreign financial services firms . The goal is to reduce any friction in capital flow between the two countries and encourage investment in these areas.
The council has suggested developing a long - term plan to commercialize the Indian National Satellite System ( INSAT ) and enhance space platforms and infrastructure . These measures are expected to have a positive impact on various digital manufacturers , particularly benefiting semiconductor members who have highlighted the importance of ease - of - doing - business policies.
To further support the industry , the USIBC has emphasized the adoption of advanced technologies such as visual and special effects , 3D/4D formats , drone shooting , and animation . By providing incentives for these advancements , India can strengthen its position as a leading hub for content production exports . The council believes that leveraging these technologies will enhance India 's appeal for international media production.
In terms of intellectual property rights ( IPR ) , the council has recommended a balanced policy to facilitate technology transfer and attract foreign direct investment ( FDI ) . This approach is seen as crucial for enhancing the effectiveness of schemes like the Production Linked Incentive ( PLI ) Scheme . By ensuring a supportive IPR environment , India can encourage innovation and strengthen its position in the global market.
Business
