World-renowned Sony Digital confirms that there are still some spikes in growth stats of electronics industry after the goods and services tax implementation. The confirmation was made by a senior official of Sony India. The stats revealed that despite the speculations of downfall, it seems that the electronics industry is climbing at a regular pace.
Sony India Country Marketing Head Yuichi Hasegawa, “We had expected a dip in sales after implementation of Goods and Services Tax (GST) regime. But it was not seen. In fact, the market has been growing steadily, There is no depression in the Indian market and it has been growing. The demand for premium category high-end products of Sony is high.”
Read Also: GST Impact on Mobile Phone Manufacturers in India
The officials revealed that Sony is thinking to revamp its wider reach in India in coming future as it is learned that India is considered as the 4th largest market for the Sony branded products here in the country accounting from the global list. All that being said in an inauguration of the first premium look Sony centre in the North East region which is under the planned sequence of 18 upgraded stores expected to be opened in this financial year. Around 168 Sony centres are there across the nation in which 3 of them are in Assam and 1 centre is in Mizoram.
Apart from Sony, there is another factor of rising demand of electronics in Indian arena is that the price drop is ascertained for the electronic component manufacturing as clarified by the Assocham and NEC joint study. The study included that, “The lower taxes, simplified tax structure and technology empowered tax compliance system will provide an ideal ecosystem to improve the current situation of electronics manufacturing in India”.
Recommended: A Complete Guide on Job Work Under GST India
The first benefit of this will be headed towards domestic manufacturing of electronic products as according to the reports, it is learned that government initiative has something to do with this. The report stated that “Post demonetization, the government has been promoting digital payments by introducing e-payments platforms such as BHIM, Bharat QR. All of these platforms will generate more demand for the mobile phone.”
