Amit Sharma, Managing Director & CEO, Tata Consulting Engineers
Tata Consulting Engineers (TCE) views the FY 2026 Budget as a key opportunity to advance India’s infrastructure, energy transition, and technological innovation. We expect continued capital investment in water supply, metro systems, and climate-resilient infrastructure, along with support for Smart Cities, Transit-Oriented Development, and affordable housing.
A stronger push for renewable energy, including offshore wind, green hydrogen, and small modular reactors (SMRs), coupled with grid expansion, viability gap funding, and single-window approvals, will accelerate the energy transition. Strengthening nuclear energy through Bharat Small Reactors (BSR) and a contingency reserve for disaster management will bolster long-term energy security.
Modernising ports, promoting shipbuilding, and developing industrial clusters for semiconductors, EV batteries, and clean technologies will boost self-reliance and export competitiveness. Coastal industrialisation and inland logistics hubs will further drive efficiency and reduce costs. Smart infrastructure, digital twins, AI-driven mining, and integrated water management will be crucial for sustainability.
Skill development, gender diversity in engineering, and incentives for public-private partnerships will help bridge workforce gaps. Enhanced climate finance, including green bonds, R&D funding for energy storage, and low-interest loans for critical projects, will support India’s journey towards decarbonisation, innovation, and global leadership in engineering and consultancy.
Shaunak Amin, the Managing Director of Alembic Pharmaceuticals Limited
“The upcoming budget offers a crucial opportunity to position the Indian pharmaceutical industry as a global powerhouse, aligning with its projected growth from $55 billion to $130 billion by 2030 and further to $450 billion by 2047. To achieve this, a strategic focus on reducing reliance on imports through enhanced domestic production of Active Pharmaceutical Ingredients (APIs) is imperative. With nearly 70% of APIs currently imported, primarily from China, targeted policy measures and financial incentives are essential to bolster local manufacturing capabilities and ensure pharmaceutical self-reliance.
Equally important is the need for increased allocation toward research and development, a cornerstone of innovation in the sector. Encouraging public-private partnerships and investing in shared research infrastructure can provide the much-needed impetus for cutting-edge drug development and clinical research. Investments in the upgradation of National Institutes of Pharmaceutical Education and Research (NIPERs) to global standards will further establish India as a leader in pharmaceutical innovation.
Policy rationalization in areas such as export incentives and streamlined customs processes will be vital to maintain India’s dominance in the global supply chain, which currently accounts for 20% of the global pharma market, including a 40% share in the U.S. generic drug demand. Addressing affordability and accessibility through measures such as rationalizing taxes on life-saving drugs and medical equipment will also play a critical role in improving domestic healthcare outcomes.
With these interventions, the budget can set the stage for the Indian pharmaceutical sector to not only meet its ambitious growth targets but also drive global healthcare advancements, solidifying its reputation as the ‘pharmacy of the world’ while ensuring equitable access to high-quality medicines for all.”
Ashish Singhal, Co-founder, CoinSwitch
“The Virtual Digital Asset (VDA) industry in India has immense potential to contribute to the nation’s digital economy. To fully harness this opportunity, the upcoming Budget provides a crucial moment to refine taxation policies, fostering both growth and compliance within the sector.
We propose a reduction in the Tax Deducted at Source (TDS) on VDA transactions from the current 1% to 0.01%. This adjustment would significantly ease compliance challenges and promote market transparency while ensuring the tracking and tracing of transactions and boosting tax revenues. Additionally, we recommend raising the TDS applicability threshold from INR 10,000/50,000 to INR 5,00,000. This would protect small investors and traders from undue tax burdens, ensuring fair treatment across the board.
To further support the industry’s growth, we advocate for aligning the taxation of VDA income with other asset classes and removing the current discriminatory treatment. Allowing taxpayers to set off or carry forward losses, as permitted under capital gains provisions, would establish parity and create an environment for innovation.
We are hopeful that the government will recognize the VDA industry’s potential and take steps toward balanced and progressive policies that enable its growth.”
Devam Sardana, Business Head, Lemonn
In the last budget, there was a dual impact of STT increase and LTCG increase (on listed shares) on the users with an increase in trading costs as well as impact on profitability of the users. Given that the revenue generation would have significantly increased with STT, this can potentially be used to revert the LTCG to 10% in order to ensure even higher market participation and incentivise long-term investment which is critical for the users and the capital market stability. This can also address reduction in the flight of capital from India towards global markets and potentially contribute to rupee appreciation as well.
Ganesh Sonawane, Founder and CEO of Frido
“India’s startup ecosystem is a thriving hub of innovation, and we hope that the Union Budget 2025 reflect its potential. Startups, particularly those focusing on health-focused innovations, stand to benefit greatly from policies that streamline GST processes, introduce R&D tax incentives, and provide easier access to funding could ignite a wave of innovation, empowering manufacturers and startups to meet the increasing demand for wellness products. Encouraging startups to scale manufacturing for global markets will also be crucial in reinforcing the Make in India for the world initiative. With the right support, entrepreneurs can position India as a global hub for wellness and ergonomic solutions, showcasing the country’s ingenuity and innovation on the world stage.”
Amit Goyal, Regional Managing Director, South Asia, PMI
“As the global economic focus shifts towards Asia, including India, there will be an increasing demand for professionals equipped with the skills to plan, manage, and execute large-scale projects across various industries. In India, this demand will be particularly pronounced given the country’s vast size and the scale of its developmental initiatives. A workforce proficient in project management will be vital for India as it seeks to accelerate growth and become the world’s third-largest economy.
Therefore, in the upcoming budget, it is imperative for the government to acknowledge the central role that project management professionals will play in India’s ascent, akin to their impact in other nations over recent decades.
Building a workforce adept in managing teams and ambitious, large-scale projects necessitates the implementation of policies that provide talented young individuals with access to project management programs. Currently, around 50% of Indians aged 15 to 35 require upskilling to achieve full employability, and many among them possess the potential to excel in project management. Facilitating easier access to training will cultivate a professional workforce well-versed in the intricacies of project management and leadership. Such a workforce will be crucial to the success of numerous forthcoming projects, including those in renewable energy, where India ambitiously targets sourcing 50% of its electricity from non-fossil fuel sources by 2030, and logistics, set to unfold over the coming decades.
A budget that prioritizes the training of young Indians in project management is not only essential for their professional advancement but also crucial for India to achieve its aspiration of becoming a leading global nation.”
Giridharan Natarajan, Co-Founder & CEO, MVPRockets
“Budget 2025 represents a critical moment for technological innovation, with a strong emphasis on elevating India’s research and development landscape. We are advocating for higher tax deductions and government grants specifically targeting emerging technological domains like artificial intelligence, quantum computing, and blockchain, which are pivotal for our nation’s global technological positioning.
The startup ecosystem requires transformative policy interventions. Tech leaders are unanimously pushing for a simplified tax regime and extended tax holidays, drawing inspiration from successful models in Singapore and the United States. These reforms are essential to nurture entrepreneurial potential and create a more conducive environment for technological startups.
Recognizing the global technological landscape, there’s an urgent need to boost AI and cybersecurity initiatives. These domains are crucial for ensuring India remains competitive on the international stage, protecting our digital assets, and maintaining technological sovereignty.
Skill development is another space that remains a cornerstone for our tech-driven future. Comprehensive investments in workforce training programs will be critical in preparing our human capital to navigate and lead in an increasingly complex technological ecosystem, thereby securing India’s position as a global innovation hub for the next decade and possibly the next century.”
Alok Mittal, Co-founder & MD – Indifi Technologies
“The Indian NBFC sector continues to develop, creating diverse opportunities within the financial landscape. Despite this remarkable growth, NBFCs and MSME sectors face unique challenges, including liquidity constraints, operational hurdles, and evolving regulatory requirements. To address these, we need harmonization in provisions related to Recovery and Taxation, and diversified domestic funding sources for NBFCs. For MSMEs, improvement in credit flow through digital lending should be ensured. Empowering Account Aggregators by ensuring comprehensive GST record availability, relaxing data control obligations of REs for value-added LSPs governed under the Digital Personal Data Protection Act, and allowing NBFC-NBFC Co-lending under CLM2 are key steps that can strengthen the MSME ecosystem.”
Venkatesh Mudragalla, Co-founder & COO, Jeh Aerospace
“India’s aerospace manufacturing sector has made significant strides over the past year, highlighting its potential as a global leader. The 2025 budget should focus on increasing R&D investments to drive innovation in propulsion systems, advanced materials, and automation. Tax incentives and collaborations between the private sector, academia, and research institutions are essential to accelerate progress. Establishing dedicated aerospace hubs with state-of-the-art infrastructure will support end-to-end production and foster startups and SMEs. A “National Aerospace Manufacturing Policy” can provide a roadmap for sustainable practices, technology transfer, and local capacity building. Skill development programs in advanced manufacturing, AI, and robotics will equip a future-ready workforce. By promoting green aviation technologies like electric propulsion and lightweight materials, India can align its growth with global sustainability goals while strengthening its position in the global aerospace value chain.”
Madhav Krishna, CEO and Founder, Vahan.ai
2025 is heralded to be the age of AI Agents. This will open up a lot of opportunities for a growing economy like India. The government should prioritise investment in research and development, focusing on key areas like AI and Machine Learning. While India has been among the largest investors in AI over the past five years, with investments of over $16 billion, we are significantly behind the US (over $320 billion) and China (over $120 billion). The Government shall hopefully make investments in the digital and physical public infrastructure required to build AI for Bharat and make specific indicators and guidelines on how these investments will be made, whether through public-private partnerships, dedicated research institutions, or other means. These directions strongly indicate India’s commitment to harnessing AI’s potential for inclusive growth. By taking these steps, the government can sow the initial seeds for a thriving domestic AI ecosystem, fostering innovation and ensuring responsible development of this transformative technology.
ON GIG ECONOMY
Gig work is no longer a temporary job – for as much as 86% of gig workers in India, it has now become a full-time employment opportunity. With the growing expanse of Quick Commerce, the demand for gig workers is only expected to grow. The Gig workers segment is a rapidly expanding sector in the Indian economy that deserves recognition for the important impact it plays in the Indian economy. In 2025, gig worker requirements are expected to almost double.
The introduction of the Code on Social Security in 2020 was a promising step towards securing the livelihoods of India’s growing gig workforce. Transparency regarding the implementation status and a concrete timeframe would provide much-needed clarity and reassurance to millions of workers in the gig economy. The 2025 budget could enhance allocations towards the sector to balance the livelihood requirements and the growing industry needs.
Priyadarshi Mohapatra, Founder & CEO
As we approach the Union Budget 2025, we hope the government will strongly focus on healthcare accessibility and innovation. Strengthening rural health infrastructure, adopting technology-driven solutions, and prioritizing preventive care are essential steps to address the growing disparities in healthcare delivery. Increased budgetary allocations in these areas can significantly improve outcomes for underserved communities. Additionally, introducing tax incentives for healthcare startups and streamlining regulatory frameworks would encourage innovation and foster greater efficiency in the sector.
Hari Subramaniam, Founder and CEO
In the last few years, India’s health tech sector has seen tremendous growth, however, the time-consuming and non-transparent processes of CDSCO approvals have become a significant bottleneck. To truly realize the potential of ‘Make in India’ in healthcare, the government needs to address these challenges by simplifying the regulatory processes, subsidizing approval costs for startups, and creating more validation centers. Additionally, the 18% GST on AI-driven healthcare solutions needs to be reconsidered, as it hampers the affordability of cutting-edge technologies that can reduce infrastructure costs and improve outcomes, especially for the government, as India’s largest healthcare provider. By reducing these entry barriers and fostering a more supportive environment, we can empower Indian innovators, curb imports, and establish India as a leader in affordable and efficient healthcare technologies.
Vinay Chhabra, Co-Founder & Managing Director, AceCloud
“The year 2024 brought in profound changes to India and world as AI reshaped the world as we knew it. India, in particular, emerged as a promising hub for AI and GPU advancements. To maintain this upward trajectory, it is essential to invest in the country’s technological infrastructure, and a forward-thinking, tech-driven budget is the key to achieving this. We look forward to strategic initiatives that go beyond traditional tax incentives. These could include a dedicated fund to drive AI research and innovation, enhanced allocations for the IndiaAI mission, and incentives to bolster domestic manufacturing of GPUs and high-performance computing components.
India’s growing digital economy requires robust cloud and data infrastructure. Incentives for establishing data centers and edge computing facilities will play a critical role in meeting this demand. Additionally, sector-specific programs aimed at startups and SMEs, particularly to facilitate access to affordable GPU-powered computing, can act as catalysts for their growth and innovation.
Further, we believe that the workforce of the future will depend on targeted skill development programs. We expect collaborative efforts between the government, private sector, and academia to upskill professionals in AI, cloud computing, and related domains. This will not only bridge the skill gap but also empower India’s talent pool to leverage next-gen technologies effectively.
At AceCloud, we are optimistic about the government’s forward-thinking approach and remain committed to collaborating on initiatives that will position India as a global leader in AI, digital innovation, and technological excellence.”
Sachin Jain, Country Head at ETS India & South Asia
“As India prepares for the Union Budget 2025-26, it is imperative to prioritize strategies that empower the youth and enable them to compete on a global stage. Strengthening workforce readiness through skill development and language proficiency initiatives will be essential for India to cement its position as a global talent hub. The focus should be on fostering equitable access to high-quality education and assessments that prepare students and professionals for international opportunities.
The government’s continued push towards internationalizing Indian higher education institutions (HEIs) under the National Education Policy has opened significant avenues for collaboration. The upcoming Budget presents an opportunity to further these efforts by creating streamlined pathways for global talent exchange, simplifying admissions for international students, and promoting India as a destination for high-quality education.
Additionally, fostering public-private partnerships to scale regional testing infrastructure and aligning skill-building programs with global benchmarks can create transformative outcomes. With strategic investments and forward-looking policies, this Budget can lay the groundwork for a more inclusive and globally competitive workforce, positioning India as a leader in the global knowledge economy.”
PK Agarwal, Dean, University of California Santa Cruz Professional Education
“As a leading voice in global academic excellence, the University of California, Santa Cruz Professional Education, rooted in Silicon Valley’s innovation ecosystem, commends the Government of India’s visionary initiatives, including NEP 2020 and its commitment to digital transformation. The Union Budget FY 2025-26 presents a pivotal opportunity to enhance education funding, foster dynamic industry-academia collaborations, and integrate transformative technologies like AI and IoT into mainstream learning. These efforts align with our shared mission to nurture inclusive, future-ready talent, drive sustainable growth, and reinforce India’s position as a global knowledge leader.”
Aritra Ghosal, Founder & Director, OneStep Global
“As we approach the Union Budget 2025-26, we anticipate measures that will further strengthen India’s education landscape and position the country as a global leader in talent mobility. Expanding financial support for students pursuing international education, such as reducing tax collection at source (TCS) rates and increasing subsidies, can empower students to access world-class learning opportunities abroad. At the same time, streamlining regulatory frameworks to attract foreign universities to establish campuses in India will create globally competitive, affordable education options domestically.
Additionally, fostering robust international collaborations and enhancing access to financial aid are crucial steps to bridge existing gaps and ensure that Indian students and institutions can thrive on a global stage. By prioritizing education funding and accessibility, the government has the potential to create a transformative ecosystem that aligns with India’s aspirations of becoming a knowledge economy and a preferred destination for international academic partnerships.”
Sripal Jain, CA, CPA, Co-Founder and Global Instructor at Simandhar Education
“The Union Budget 2025 is a pivotal opportunity for the government to further strengthen India’s position as a global leader in accounting and finance. With the rising international demand for accounting professionals, particularly in light of global workforce shortages, targeted measures can bridge the skills gap and enable our workforce to excel on the global stage.
The government’s focus on simplifying taxation and financial systems has been instrumental in driving growth. Extending this vision to accounting education by reducing GST on certifications like CPA, CMA, and EA and introducing subsidies for skill development programs can make globally recognized qualifications more accessible. Such measures will empower professionals to align with international standards and meet the evolving needs of the global market.
Additionally, incentivizing the adoption of technology-driven processes in accounting, including AI and data analytics, can enable India’s accounting workforce to take on more complex roles and cater to emerging trends in automation and compliance. This budget is a chance to foster an accounting ecosystem that supports growth, innovation, and global mobility. By prioritizing education and technology in the accounting domain, the government continues to demonstrate its vision and leadership in empowering India’s youth to drive global economic progress and position India as a global powerhouse in finance and accounting.”
Abhijit Zaveri, Founder and Director, Career Mosaic
“As we approach the upcoming budget announcement, we are optimistic about its potential to unlock new opportunities for international student mobility. India’s study abroad sector is witnessing significant growth, and we anticipate initiatives that foster greater collaboration between Indian and international universities. The development of GIFT City, for example, has already shown promise in creating new avenues for academic exchange and research. This initiative and a budget that prioritizes global education could significantly enhance cross-cultural learning and bolster India’s leadership in STEM fields. A forward-looking budget will empower India’s vibrant youth, positioning the country at the forefront of international academic collaboration.
Furthermore, we expect the government to implement measures that make international education more accessible and affordable. Targeted scholarships for students from Tier 2 and Tier 3 cities, tax benefits for families supporting overseas education, and streamlined visa processes are crucial steps in enabling more students to pursue their dreams of studying abroad. By addressing these needs, the budget will support individual aspirations and contribute to India’s long-term economic and intellectual growth on the global stage.”
Ganesh Kohli, Founder of IC3 Movement
“While previous Union Budgets have made significant strides in academic infrastructure and skilling initiatives, career guidance is yet to be fully integrated as a core function within secondary education. Recognizing the vital role of career counseling in supporting students’ academic outcomes, mental health, and well-being, this gap must be addressed. The National Education Policy (NEP) 2020 rightly emphasizes counseling as a key component of the educational framework, and the Ministry of Education’s UMMEED guidelines deserve recognition for their focus on student mental health and preventing self-harm, particularly in high-stress academic settings. UMMEED’s emphasis on training teachers, staff, students, and parents to recognize signs of distress is an important step in supporting students.
Looking ahead to the Union Budget 2025-26, I am hopeful that we will continue to see a concerted focus on embedding career guidance within the fabric of India’s education system to achieve our vision of Viksit Bharat 2047. This should include equipping educators with the tools to guide students in making informed career decisions, thus enhancing their academic performance and mental well-being. By integrating career guidance into the educational experience, we can ensure that students receive a stress-free environment that prioritizes their holistic development, preparing them to navigate their futures successfully, and contributing to the development of a skilled, confident, and future-ready workforce for the country.”
Krishan Mishra, CEO, FPSB India
“As we approach the Union Budget 2025-26, it is crucial to address the evolving financial needs of individuals across income groups and life stages. First, providing tax relief, especially for the middle-income segment, is essential. A tax-free slab up to ₹15 lakhs would be a significant step towards enhancing disposable income and easing financial stress. Additionally, the 30% tax bracket, which often burdens higher-income earners, should see reform to ensure fairness and inclusivity.
Insurance, too, must shift from being viewed merely as a tax-saving tool to a life-saving financial safety net, which aligns with its true purpose. Similarly, longevity finance should gain attention. With an aging population, we must develop innovative financial products curated for individuals post-retirement, ensuring they have security and stability in their later years.
To foster a financially empowered nation, I urge the Finance Minister to encourage citizens to create their own one-page financial budgets immediately after the Union Budget announcement. This exercise can help individuals align their goals with the new policies and promote better financial planning.
Lastly, achieving ‘Viksit Bharat 2047’ is only possible when financial literacy becomes a cornerstone of our national agenda. Without education in managing money, individuals risk letting their finances control them, hindering their progress. We hope the upcoming budget takes bold steps toward strengthening financial awareness and inclusion across the nation.”
Saurabh Arora, Founder & CEO, University Living
“In the Union Budget 2023, the government introduced significant changes to the Tax Collected at Source (TCS) system under the Liberalized Remittance Scheme (LRS), impacting Indian students aspiring for international education. The TCS rate for remittances exceeding Rs. 7 lakh per annum was increased from 5% to 20%, adding a considerable financial burden on families already navigating high education costs. With over 1.3 million Indian students studying abroad in 2023, contributing a staggering US$60 billion in outward remittances—a figure expected to surpass US$70 billion soon—it is evident that the student community plays a vital role in global remittance flows.
To support students and their families, the government should consider targeted measures in the upcoming Union Budget. First, increasing the provision of collateral-free loans by PSU banks for university education, along with expanding access to other collateral-based loans, can provide much-needed financial relief. Second, remittances sent back to India by students who eventually secure global employment will rise significantly, alleviating fears of trade imbalances in the long term.
Given the immense economic contribution of Indian students abroad, reducing TCS rates for educational remittances or offering tax rebates on education loans would not only ease their financial burden but also encourage more students to pursue quality education globally. Such reforms would align with India’s vision of becoming a global knowledge economy while reinforcing its position as a key player in the international talent ecosystem.”
Anish Srikrishna, CEO, TimesPro
“The forthcoming Union Budget presents a crucial opportunity to bolster private sector participation by integrating EdTech into the online and distance learning ecosystem within higher education, paving the way for transformative policies.
A forward-looking approach could allocate funding for emerging disciplines such as Artificial Intelligence (AI), Machine Learning (ML) and other cutting-edge fields. Subsidising course fees for both freshers and professionals would encourage greater participation in lifelong learning and upskilling. Such initiatives, when offered through premiere institutions like IITs and IIMs, would foster an inclusive and competitive workforce. Aligning these measures with national missions like ‘Make in India’ and ‘Skill India’ would reinforce India’s global leadership in innovation and manufacturing. Investments in upskilling across technological and non-technological domains are key to advancing the vision of Viksit Bharat.
Reducing GST on EdTech services to 5% or eliminating it would make education more affordable, broadening access to upskilling programmes and engaging diverse learners.
Recognising and accrediting short-term, stackable micro-credential programmes from EdTech providers for academic credits would bridge skill gaps and boost employability. Similarly, subsidising professional development courses for faculty would raise teaching standards, aligning institutions with global benchmarks. By implementing these measures, the Union Budget can cultivate a skilled, future-ready workforce, driving India’s sustained growth and global leadership.”
Ganesh Sonawane, Founder and CEO of Frido
“India’s startup ecosystem is a thriving hub of innovation, and we hope that the Union Budget 2025 reflect its potential. Startups, particularly those focusing on health-focused innovations, stand to benefit greatly from policies that streamline GST processes, introduce R&D tax incentives, and provide easier access to funding could ignite a wave of innovation, empowering manufacturers and startups to meet the increasing demand for wellness products. Encouraging startups to scale manufacturing for global markets will also be crucial in reinforcing the Make in India for the world initiative. With the right support, entrepreneurs can position India as a global hub for wellness and ergonomic solutions, showcasing the country’s ingenuity and innovation on the world stage.”
Aji Nair, CEO at Mirah Hospitality
“As we approach the Union Budget 2025, the F&B sector looks forward to measures that address key challenges such as rising food inflation, operational costs, and the intricate tax structures on alcohol and aerated beverages that impact profitability. A progressive framework that fosters innovation, simplifies policies, and enables sustainable growth will be pivotal for the industry’s success.
The restaurant sector specifically urges the restoration of the GST Input Tax Credit, which would significantly ease operational expenses and enhance efficiency.
Additionally, revisiting the GST notification on commercial leases under the Reverse Charge Mechanism is essential to reduce financial burdens. With these steps, the sector can focus on innovation, customer experiences, and long-term growth.”
Shrishti Yadav and Shubham Godara, Co-founders at SCINQ Neurocosmetics
“We are optimistic that the 2025 Union Budget will address critical areas like streamlining the GST framework to reduce complexities, particularly for the beauty and skincare industry, where multiple tax slabs create challenges. A more uniform and industry-friendly tax structure would ease operations and lower costs, benefiting both businesses and consumers. Support for the retail and e-commerce sectors through industry-friendly policies would further encourage growth and innovation, creating a more dynamic marketplace. These steps can help Indian beauty and skincare space to reach a broader audience and contribute to the overall growth of the economy.”
Ricky Vasandani, Co-founder and CEO of Solitario
“As India increasingly embraces sustainable luxury, this year’s Union Budget presents a valuable opportunity to encourage eco-conscious consumption. By fostering an environment that supports sustainable businesses and innovation, particularly in sectors like lab-grown diamonds, we can create a thriving ecosystem for luxury brands. Simplified regulations and forward-thinking policies will enable brands to flourish in an evolving market, helping India strengthen its position as a leader in environmentally responsible luxury while promoting a new era of conscious consumerism.”
Gregory Goba Ble, Head of UPS India and Director of MOVIN Express
“Investments in the logistics sector can support India’s trade goals, enhance economic efficiency and encourage MSMEs to scale-up.
To further strengthen India’s position in global markets, achieve the objective of National Logistics policy, and reach the export target of US$2 trillion by 2030, the thrust should be to simplify export compliance procedures and reduce regulatory cost for logistics players.
We hope to see measures to expedite e-commerce clearances and simplify cross-border online transactions. There needs to be increased budget allocation for the healthcare sector, which relies heavily on a robust and integrated logistics network. This will ensure efficient delivery of medical supplies and increase the sector’s overall effectiveness to cater to pharmaceutical and patient requirements.
In the earlier budgets, the Government has announced programs and initiatives to support MSMEs and we expect that to continue. We hope MSMEs, especially in the tier 2-3 cities, are further empowered with capital and technology adoption for them to compete in global markets.”
Arjun Bajaj, Director – Videotex on
“The television manufacturing industry has long advocated for the implementation of the PLI scheme and the development of a local ecosystem for critical components such as displays and semiconductors. Additionally, the current 28% GST on 40 inch and larger TVs, which are classified as luxury goods, should be re-evaluated, as these products have become essential. Removing this tax could stimulate sales and benefit the industry. Support for export promotion would unlock new business opportunities. Moreover, the focus should shift from solely expanding manufacturing capabilities to fostering R&D, product innovation, and enhancing operational and production efficiencies. It is also crucial that the government refrains from increasing the import duty on open cell components to help maintain the cost of the final product.”
