USIBC Advocates Incentives for India's Media and Entertainment Sector in Upcoming Budget

The US India Business Council (USIBC) has advised the Indian government to implement production-linked incentives for the media and entertainment industry in the upcoming Budget. The council seeks a level playing field for Indian and foreign firms, streamlined courier exports, clarified GST rules, and enhancements in the energy, financial, and telecommunications sectors.

The US India Business Council (USIBC) has called on the Indian government to introduce production-linked incentives for the media and entertainment industry in the forthcoming Budget. The trade body emphasized the necessity of leveling the playing field between Indian and foreign companies.

Ahead of the Budget presentation by Union Finance Minister Nirmala Sitharaman, USIBC urged for liberalizing the satellite communications industry and easing capital flow between the U.S. and India. The recommendations include eliminating value restrictions on courier exports, streamlining processes for perishable goods, and promoting a single window system for courier shipments.

The council also advocated for clarifications on GST-related issues, including Input Tax Credits under the Reverse Charge Mechanism and medical insurance for employees. In the energy sector, USIBC proposed free-market principles to attract investments and support energy security. Financial service recommendations include tax parity and facilitating direct offshore listings of Indian companies.

(With inputs from agencies.)