Budget 2021: “The industry is looking ahead to MSMEs for additional growth”

“Budget 2021 carries a lot of responsibility to revive specific sectors like tourism, services & apparel, which have been hit hard by the pandemic,” remarks Amit Gupta, Managing Director, Httpool India. These sectors contribute considerably to advertising revenues. Given the fact that the situation becomes better with the arrival of vaccination, we should see higher consumer consumption and demand. This Budget should help with sops to get these verticals back on track.

Gupta further said that another essential boost will be required in the MSMEs sector to help create more job opportunities and help to bridge the loss of employment caused during the pandemic. MSMEs also play an essential role in creating Make in India products and later taking the products to the global map. Advertising has seen saturation or slower growths with large brands and now the industry is looking ahead to MSMEs for additional growth.

“Finally, we also expect the Government to continue with its policy of growing and liberalising the digital economy. The growth has to be inclusive and now come from rural India, which is dependent primarily on agriculture and handicrafts,” he added.