E-commerce and consumer internet industry welcomes FM Sitharaman’s Budget

E-commerce and consumer internet industry has welcomed tax breaks and incentives in Finance Minister Nirmala Sitharaman’s Budget presented on Tuesday.

Kalyan Krishnamurthy, chief executive officer of e-commerce giant Flipkart Group, said the Budget is a bold move to enhance India’s human and organisational capital. He said it spares no effort in incentivising the youth to upskill and join the formal workforce. He said the provisions of the Budget will remove bottlenecks in the supply chain and lend significant support to industries by encouraging clusters, establishing e-commerce export hubs, and improving credit flow to MSMEs (micro, small, and medium enterprises).