You are here: Home » Budget » News » Economy
Business Standard

Budget 2018: FM Arun Jaitley should grant industry status to retail sector

Wonderchef Home Appliances MD Ravi Saxena emphasises that it is the best time to award an industry status to the retail sector for overall economic growth

Ravi Saxena 

Finance Minister Arun Jaitley
Finance Minister Arun Jaitley

Budget 2018 should be a game changer for the retail sector and we expect to grant the much-needed industry status to the sector this year.

“The Retail sector is a significant contributor to the which has the potential to generate twice as many jobs as compared to what it does currently. But it should get impetus from the government to create an ecosystem backed by favorable regulations and strong domestic R&D. With the current government’s continuous endeavor to correct the financial structure of the country, it is the best time to grant industry status to the retail sector as this will provide the sector with easier access to the finance and attract more investments.

We expect finance minister to consider simplification of GST procedures along with lowering of taxes and announcement of initiatives that can stimulate domestic manufacturing.

Consumer appliances like mixer grinders and juicers are no longer considered luxury. Such consumer appliances need to be made more affordable to the consumers and be put in a lower tax bracket from 28 percent to 18 percent.” He added.

Ravi Saxena is an entrepreneurial CEO and a builder of businesses. Ravi is an alumnus of IIM-Ahmedabad, India’s finest management institute, and one of the best in the world. He accomplished his Electronics Engineering Degree from the prestigious Delhi Institute of Technology. He has had 15 years of his 20 years of experience as CEO and MD of major Multinational Organizations in India. He has a track record of launching new concepts and taking them to success.

Having built 11 distinct businesses from scratch, in services sector, he has a solid grip on launching businesses, growing them and creating shareholder value. He has extensive global exposure and has participated in projects and workshops in over 35 countries across 5 continents. Ravi’s passion is Sales, Marketing, Projects and Business Strategy supplemented by strong financial skills and clear HR perspective.

Currently Ravi runs his own business in Retail and Management Education.

He is the Indian partner of the prestigious Italian University, Bocconi and has recently launched a top-end Business School in Mumbai.

He along with Celebrity chef Sanjeev Kapoor launched Wonderchef in the year 2009.

About Wonderchef

is a company born out of the ‘love of cooking’. Driven by passion of making Kitchen the Centre of wellness and goodness in homes, Wonderchef was created by two enthusiasts, Mr. Ravi Saxena and Chef Sanjeev Kapoor in 2009. They believed in kitchen being the 'heart of the home', as it inspires us every day to create lasting memories with the food we cook for our loved ones. This is why the entire range of Wonderchef Cookware and Appliances is a perfect blend of health, taste and convenience that inspires us to 'cook with pride'. Wonderchef products are used in millions of homes in India where healthy and convenient cooking is a part of lifestyle.

These premium cookware and appliances are a pleasure to use, are innovative, have attractive colors and designs, and adhere to uncompromising standards of quality. Wonderchef constantly endeavors to create modern solutions for today’s woman, making it the ‘most loved Kitchenware Company' in India.

The author is MD of Wonderchef Home Appliances

First Published: Wed, January 31 2018. 16:54 IST