Prasad asks electronics manufacturers to take full advantage of tax incentives

New Delhi: Union Minister Ravi Shankar Prasad on Friday exhorted electronics and mobile makers to take full advantage of the tax incentives announced by the government, saying the latest measures underlined the commitment to transform India into a manufacturing

hub.

The comments came after the government slashed the tax rate for companies by almost 10 percentage points to 25.17 per cent and offered a lower rate of 17.01 per cent for new manufacturing firms in a bid to bolster economic growth rate from a six-year low by incentivising investments to help create jobs.

Prasad, who has been aggressively pushing electronics and mobile manufacturing in the country, had met captains of the industry earlier this week to hardsell India as a global production hub.

"I appeal to manufacturers to avail this incentive. India has the technology and human resource and an enabling government in place," Prasad told PTI on the sidelines of a conference on 'emergence and impact of Artificial Intelligence and Internet of Things' hosted by Jaipuria School of Business.

Prasad noted that the latest series of measures underscored India's commitment towards manufacturing.