Budget 2022: A Booster Shot to Wearables and Hearables
My Mobile|February 2022
My Mobile spoke to a few stakeholders and industry players to find out their opinion on what this move by the government would translate on the ground
Ramesh Kumar Raja
Budget 2022: A Booster Shot to Wearables and Hearables

he government has presented the Union Budget for the year 2022-23 and the speech of Finance Minister Nirmala Sitharaman has since February 1 triggered innumerable debates, discussion and analysis. Whether or not we give thumbs up or thumbs down to this year's budget, we cannot ignore the fact that the Finance Minister's speech did encapsulate the latest trends in spaces like wearables, hearables and other consumer electronics. The speech categorically mentioned that Customs duty rates have been calibrated to provide a greater rate structure to facilitate domestic manufacturing of wearable devices, heareable devices and electronic smart meters, thereby hinting at the widespread implications of growth in the sector registered during the new normal.

We spoke to a few stakeholders and industry players to find out their opinion on what this move by the government would translate on the ground. When asked as to how the wearable makers look at this development, Arnav Kishore, the cofounder of one of India's fastest growing smartwatch brands, Fire-Boltt, said, We are happy that the government is paying attention to this massively growing segment and wants to aid domestic manufacturing. If the calibration of customs duty rates facilitates economical inflow of raw materials, we consider it a win-win proposition. If implemented effectively and taking into account the existing bottlenecks for homegrown brands, then the impact on the wearable sector would be exponential. While we would definitely witness a barrage of domestic manufacturers, the key for all brands would be to offer innovative features and premium quality.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM MY MOBILEView all
Singles On Tinder Opting For Situationship
My Mobile

Singles On Tinder Opting For Situationship

Tinder, the very safe and promising dating app has released 'Tinder's year in swipe' which mentioned and elaborately addressed the changes the dating world has seen with the trends that can be the mainstream dating expectations of the people.

time-read
2 mins  |
December 2022- January 2023
Google Pixel Buds Pro
My Mobile

Google Pixel Buds Pro

Better Late Than Never

time-read
4 mins  |
December 2022- January 2023
Stop Google From Being A Spy On You Here's How
My Mobile

Stop Google From Being A Spy On You Here's How

Did you hear that google can also record? Did you know that Google is maintaining the minutes of every meeting?

time-read
2 mins  |
December 2022- January 2023
GOQii Smart Vital Ultra
My Mobile

GOQii Smart Vital Ultra

GOQii Smart Vital Ultra is a perfect combination of a fitness tracker wearable and a health device that monitors vitals, activities, sleep and a lot more.

time-read
3 mins  |
December 2022- January 2023
Axon 40 Ultra Space Edition
My Mobile

Axon 40 Ultra Space Edition

ZTE has come out with another variant of the Axon 40 Ultra -the Axon 40 Ultra Space Edition.

time-read
2 mins  |
December 2022- January 2023
Honor 80 Series
My Mobile

Honor 80 Series

Honor is has just launched its two new flagship models- Honor 80 and Honor 80 Pro where it held a massive launch event in China for two days so that users could get a hands on experience and get a hint on what all they can expect from both handsets.

time-read
2 mins  |
December 2022- January 2023
Corning Gorilla Glass Victus 2
My Mobile

Corning Gorilla Glass Victus 2

Corning Gorilla Glass Victus 2, claimed to be an improved version of its predecessor, has been officially announced.

time-read
2 mins  |
December 2022- January 2023
Nothing Ear (Stick)
My Mobile

Nothing Ear (Stick)

People are definitely intrigued by Nothing, a new tech firm that makes headphones and telephones, and they want to buy them.

time-read
3 mins  |
December 2022- January 2023
India is Now the Biggest Smartwatch Market in the World
My Mobile

India is Now the Biggest Smartwatch Market in the World

Joyous news for the Indian wearables industry!

time-read
2 mins  |
December 2022- January 2023
ASUS India Launches 6 New Laptops in ExpertBook series
My Mobile

ASUS India Launches 6 New Laptops in ExpertBook series

ASUS India will be expanding its enterprise where now its main focus will be the Expert Book portfolio with six new laptops that will get a generational leap in their segments that will also be the flagship models in the series.

time-read
5 mins  |
December 2022- January 2023