6wresearch logo

My Budget 2016 | What the 3D printing industry in India wants from FM Arun Jaitley

February 23, 2016

The Union Budget 2016 is set to be announced on 29 February.

With the Startup India initiative gaining momentum, many new industries are mushrooming in the country. One such industry is the 3D printing industry. The field is often referred to as the sunrise sector, given the massive investments in the industry.

In a recent study, 6Wresearch, a leading research firm, stated: "Indian 3D printer market is expected to cross $79 million by 2021, with automotive applications accounting for the biggest chunk of business."

Catch spoke to Novabeans, a leading 3D printing firm, on what the industry wished to see in the Budget 2016. A representative of the firm said that 3D printing industry had a number of concerns they wish to see addressed in the Union Budget. Here are five things Novabeans highlighted:

  1) The high duty structure needs to be addressed.

  2) The custom duty levied on 3D printers should be reduced.

  3) High custom duty leads to firms being rendered unable to procure advanced machinery. This is a huge hindrance
      to technological advancements in production.

  4) The Make in India initiative cannot be a reality unless taxation rates are reduced on 3D printing machinery.

  5) High duties are a widespread roadblock. It is this particular factor that is keeping most Indian firms from adopting
      3D printing.

  6) Tax credit and subsidies to startups in 3D printing business for a minimum period of 5 years.

  7) Easy access to funding with low interest rate.

  8) Sale and income tax exemption at least in the incubation period of 3D printing startups.

Media Source: Catch News

      Browse More Report

India Power & Distribution Transformer Market (2017-2022)

Market Forecast by Types (Power Transformer and Distribution Transformer), Power Rating (Power Transformer (5.1 MVA – 50 MVA, 50.1 MVA – 160 MVA, 160.1 MVA – 350 MVA and Above 350 MVA) and Distribution Transformer (Up to 100 kVA, 100.1 – 315 kVA and 315.1 – 5 MVA)

Read More

India Output Management Software Market for SME Segment (2016-2022)

Market Forecast by Segments (On-Premise Output Management Software and Cloud Output Management Software), Regions (Northern, Southern, Eastern and Western) and Competitive Landscape)

Read More

Saudi Arabia Construction Equipment Market (2017-2022)

Market Forecast by Equipment Types (Mobile Crane, Earthmoving Equipment (Motor Grader, Excavator and Loaders), Material Handling Equipment (Telescopic Handlers and Forklifts), Aerial Work Platform (Articulated Boom Lifts, Telescopic Boom Lifts and Scissor Lifts)

Read More

India Package Substation Market (2017-2023)

Market Forecast by Types (11KV, 33KV, 66 KV and 132KV), Verticals (Residential, Industrial, Infrastructure & Transportation, Commercial and Power Utilities), Regions (Northern, Southern, Western and Eastern) and Competitive Landscape

Read More

India Air Purifier Market (2017-2023)

Market Forecast by Markets Covered by Segments (Car and Room), Types (Type I: HEPA + Carbon, Type II: HEPA + Carbon + Ionizer, Type III: HEPA + Carbon+ UV, Type IV: HEPA + Carbon + Electrostatic, Type V: HEPA + Carbon + Ionizer+ UV + Electrostatic

Read More

India Video Surveillance Storage Market, CY H1 2016

According to 6Wresearch, India VSS (DVR and NVR) market reached over 0.64 Million units in CY H1 2016. CP-Plus led the market with more than 35% share followed by Hikvision and Dahua.

Read More

India Digital Signage Market (2016-2022)

Market Forecast by Components (Display Screens, Content Players and Software), Display Screens (Single Screen, Video Walls/Multi-Screens and Kiosks), Display Screen Technologies (LCD, LED, OLED and QLED), Display Screen Size

Read More

India Digital Camera Market, CY H1 2016

According to 6Wresearch, India Digital Camera market shipments reached over 0.3 Million units in CY H1 2016. Compact Digital camera market registered a significant decline

Read More


Our Key Clients
6wreserach client list