- January 17, 2018
- Mrinmoy Bhattacharjee
“We are optimistic that the Union Budget 2018 will provide impetus to the government’s smart cities initiative to build world-class cities with excellent infrastructure,” vice chairman & MD Sumit Joshi said.
The lighting tech major Philips Lighting India Ltd expects the government to provide fiscal and policy incentives for the connected LED lighting poised to emerge as the infrastructure backbone of Modi government’s 100 smart cities mission.
“We are optimistic that the Union Budget 2018 will provide impetus to the government’s smart cities initiative to build world-class cities with excellent infrastructure. We expect some fiscal and policy incentives for connected LED lighting in the upcoming budget, as lighting can play a significant role in creating these smart cities of the future by building a city-wide network capable of acquiring data and delivering information and services to and from millions of devices, in addition to significantly reducing the overall energy consumption of a city,” said the company’s vice chairman and managing director Sumit Joshi, in a statement.
Pinning hope for extending the recently-increased 10%-20% customs duty on finished LED bulbs to other finished lighting products and luminaires, Joshi observed: “This would incentivise the local manufacturing of all lighting products, which will be pivotal towards achieving the goal of complete electrification of the country.”
At the same time, he pointed out, it is important to ensure a robust monitoring and surveillance mechanism for adherence to safety standards in lighting products.