Event report

Analysis of the Union Budget of India 2023 and its impact on businesses

IFCCI in Hyderabad organized a session on the Analysis of the Union Budget of India 2023 and its impact on businesses at T-Hub 2.0

On Friday, 3rd February 2023, the Indo-French Chamber of Commerce & Industry (IFCCI) in Hyderabad organized a session on the Analysis of the Union Budget of India 2023 and its impact on businesses at T-Hub 2.0Madhapur for its members.

The session commenced with a background on IFCCI presented by Mr. Nakul Dalwala, Assistant Manager – Events & Membership at IFCCI, followed by the introduction of the panel. The audience was welcomed by Mr. Sumit Dasgupta, Managing Director of Mane India and Vice President of IFCCI in Hyderabad.

Ms. Richa Mishra, Senior Associate Editor & Bureau Chief AP, TS & WB, The Hindu Business Line moderated the panel and was in discussion with Ms. Sonia Rao. Associate Director, HSBC and Mr. Uday Kumar, Tax DirectorHyderabad Branch Head, MOJ & Associates.

The panellists shared the manifold implications the budget will have from an individual, business, bureaucratic, and national perspective and discussed the significant highlights of the proposed Budget i.e increase in the income tax slab, currency maturity in the coming years, implications on education transformation in the rural, supply chain in the food industry, importance of budget allocation in the defence sector etc…

The moderator put forth the highlights of the budget and gave her macro perception calling it a crisp, fiscal and capex-oriented budget. This was followed by the speakers sharing their insights; with the expertise from the banking sector bringing forth interesting points on how the Indian currency will be maturing in the coming future, and how a sustainable growth for India is foreseen through this budget. From the perspective of tax – Important points on income tax and how it benefits the hard-working middle class were spoken about.

Post the panel discussion, the floor was open to the audience for a Q&A session which was very invigorating. 

The discussion concluded with identifying how we are further responsible as part of the economy to reach the collective goals that the country has.

This event was attended by close to 30 Indo-French company representatives.

We would like to thank our event partners, HSBC & MOJ & Associates for their support, and all our guests for making this event a huge success!

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