Union Budget 2016: Dow India CEO Sudhir Shenoy’s Reaction

MUMBAI - February 29, 2016

“With the Union Budget 2016, the Government of India is building the economy ground-up while building fire-walls against the global slowdown. The budget outlines focus on infrastructure development, creating jobs, rural and social development while continuing adherence to fiscal discipline. This budget puts the security and prosperity of the rural communities at the foundation of nation building, catalysing domestic demand and bridging financial disparity, which has been the missing piece in the India growth puzzle thus far. In times to come, this demand will converge domestic manufacturing, building the economy with a strong foundation. In its current form the budget doesn’t look at the corporate sector in isolation. However, proposal for abolishment of 14 different cesses is a reformative step towards rationalization of tax structures as has beenpromised by the government. The industry looks forward to bolder recalibrations and more dynamic pace of reforms.”

About Dow India:

Dow Chemical International Private Limited (Dow India) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from the intersection of chemical, physical and biological sciences to help address many of India's most challenging problems including the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. With approximately 800 employees in locations spread across the country, Dow India is continually finding ways to make people's lives healthier, safer and more convenient through exploring sustainable solutions based on technology development and application research in areas of infrastructure, transportation, energy, consumer and, lifestyle. As a responsible corporate citizen, the company uses its technology expertise and employee volunteerism to partner with the communities in which it operates. Dow continues to support Jaipur Foot through free distribution of prosthetic limbs, building homes for the underprivileged through 'Habitat for Humanity' and supporting scientific thought and environmental awareness among the future generations through ‘Multiply the Message’ and ‘Mobile Science Lab’ programs.