Reforming existing policies, great optimism for Budget 2014: Sudhanshu Vats

As the newly formed government is set to announce the Union budget 2014, industry personnel and media-advertising-entertainment company custodians spill the beans on what they think needs to done to facilitate growth and better the industry.

Ahead of the parliamentarian announcements, we talk to Chairman CII National Committee on Media & Entertainment & Group CEO Viacom18 Media Pvt. Ltd. 

Sudhanshu Vats, to know what he thinks needs to be added to the roaster of current policies the industry follows, immediate changes that could help the industry take the growth path and his expectations from Budget 2014.

Putting him in a hypothetical situation, we asked Vats, with numerous policies in place for the M&E industry already present, what are the 2-3 additions that he would want to make if he were a part of the recommendation / advisory committee of the current government; and he said that, “At The recent CII CEO Roundtable with Hon Minister for Information and Broadcasting – Shri Prakash Javadekar and my esteemed colleagues from the industry brought great optimism for Budget 2014 especially towards reforms in existing policies”.

Adding further he said, “Most importantly, a single-window for clearances and permissions, especially for films and events, will help attract investments into the industry rather than go around in circles. Also, queries and licenses should become more time-bound, to add to the efficacy of the system. Also, I believe that clear and consistent policies with a view of the future will help plan the organization’s course with greater certainty and generate opportunities for employment in large numbers, thus contributing to the economy”.

Speaking of what according to him are the three important current policies and rules that need to undergo immediate changes or alteration, Vats said, “Firstly, I believe that some key changes can be made to offer industry players greater ability to plan at the organizational level. For example, DTH operators end up paying 33% of their revenue as taxes. It’s the only category that pays taxes to the State and Centre, both. A reduction in licence fee is the first step – this recommendation was made four years ago. Secondly, for Antrix’s offerings – frequency coordination and satellite approvals –a one-time fee should be levied instead of DTH operators having to pay recurring commissions. Also in view of GST implementation, entertainment and service taxes can be lowered to a more reasonable level in the interim”.

Lastly, stating his expectations from Budget 2014, as a part of the advertising, media and entertainment fraternity, he said, “Viacom18 covers extensive space within the M&E landscape. Aligned with the wider M&E industry sentiment, its expectations apply to us as well”.

Sudhanshu Vats stepped into the shoes of front man in June 2012. For the robust growth of the growing media conglomerate, he spells out the future pillars clearly – sharper segmentation, building ecosystems, creating synergies and insight led decision-making.

A Management Graduate from IIM-A, this HUL veteran and dynamo has spent over two decades with Hindustan Unilever Ltd. in various roles, shouldering increasing responsibility with a focus on unprecedented growth. In his tenure at Unilever, he has shaped many popular household brands, most notably Vim, Wheel, Surf, Rin, Lifebuoy, Lux & Lipton. In his last capacity as Vice President – Laundry, South Asia & Radiant, based in Mumbai, he was instrumental in growing the South Asia Laundry business into strong double digits crossing the €1 bn turnover milestone in 2011. As Vice President - Skin Cleansing and Laundry & HHC, HUL India, he successfully led the Laundry and HHC categories doubling this vast business segment in the last four years.

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