Progressive Grocer – July 2019

July 2019 | Ahead of What’s Next |^ Progressive Grocer |^29

Industry Speak

Th e Union Budget 2019-20 is very promising, especially for the agriculture sector. Th e incubation

of zero budget farming that involves zero credit for agriculture and no use of chemical fertilizers

is a welcome move by the government of India. Th e government’s stance of setting up 10,000

farm producer organizations by 2022 will ensure economies of scale for farmers regarding access

to inputs and markets, which will truly enhance the agriculture sector. Additionally, 80 livelihood

business incubators and 20 technology business incubators will be set up to produce 75,000 skilled

entrepreneurs in agro-rural industries, which will be a boost for a lot of budding entrepreneurs in

the agri space.

Th e government’s focus on promoting entrepreneurship is quite evident. Th e announcement of

an exclusive television channel for start-ups creates a platform for discussing issues aff ecting the

growth and match-making with venture capitalists and this move is being widely applauded by

the start-up industry. Clearing the air around the Angel tax issue has been a relief for the startup

community. Start-ups not being scrutinized by the IT department regarding the funds raised is

a huge revolution for the start-up ecosystem as this would reduce the burden on the budding

entrepreneurs. From a business standpoint, 25% corporate tax, which is now stretched to companies

with a turnover of Rs. 400 crore, is going to really boost the MSMEs and help them grow and

survive in the competitive market.

Th e government’s continued focus on building a healthy entrepreneur ecosystem as a key
aspect for economic growth is very encouraging. Several measures have been taken for
easing FDI rules in various sectors, which will have a direct impact on innovation and spur the
entrepreneurial spirit. In line with this agenda, the announcement to set up national tech incubators
will promote business and economy. Th is is further visible in the government’s eff orts towards
boosting investments in MSMEs.
Also, the government is actively looking to enhance skills and proliferation of emerging
technologies such as Artifi cial Intelligence, Big Data, Robotics. Overall, we believe that the
government’s thrust towards digitization to promote manufacturing and innovation are incremental
steps for making India a front runner in technology, across the world.

Siddharth
Khinvasara
Co-Founder, EarthFood

Vartul Jain

CFO and Senior Vice-

President, GreyOrange

Th e Union Budget 2019

talks about easing of local

sourcing norms for foreign

investment in single brand

retail. Th is would encourage

more global retailers to set

shop in India. For those

already operating in India, it

would enable them to expand

their product off erings, which

in turn would provide greater

choice of merchandise to

Indian consumers.

Th is is a very encouraging

budget for the SME/MSE

sector. With government’s

initiative, farm output has

increased, which will help promote

the agri-processing industry. We

have plans to invest in developing

value-added, healthy agro-based

products. Another big policy

put forth by the fi nance minister

on ‘One nation One grid’ for

easy power availability at one

price across States is also very

stimulating for the industry.

Ravi Mathur
Chief Executive Officer,
GS1 India

Vikram Agarwal

MD, Greendot Health

Foods Pvt Ltd (Cornitos)