CT Logo

Mr. Shalabh Chaturvedi, MD, CASE Construction Equipment  – India & SAARC

“The Union Budget reflects a strong commitment to inclusive and sustainable growth, covering key areas such as infrastructure development, green energy, taxation reforms, and social welfare. The substantial increase in funding for key infrastructure projects, NIP extension, bridging the rural-urban divide, and enhanced allocations urban infrastructure set the stage for new opportunities in Construction Equipment Industry. The ₹2.87 lakh crore allocation for road transport and highways is a significant investment that aligns with our mission to support and strengthen India's infrastructure growth. 

Furthermore, the emphasis on National Centers of Excellence for Skilling and vocational training is a welcome move, ensuring that India is future-ready by integrating innovation, technology, and workforce development. With initiatives like the National Manufacturing Mission, 50,000 Atal Tinkering Labs, and Centres of Excellence in AI, the government is fostering a robust ecosystem that promotes growth, upskilling, and employment generation. We are excited to be part of this transformative journey and contribute to India's economic and industrial progress.”

Mr. Puneet Vidyarthi, Head of Brand Marketing, CASE Construction Equipment - APAC & President, Rural Marketing Association of India

"The Union Budget places a strong emphasis on agricultural growth and rural prosperity, reinforcing the foundation of 'Bharat.' The modified UDAN scheme, aimed at connecting 120 new destinations across India, is a game-changer, paving the way for progress by enabling better connectivity, fostering reverse migration, and generating employment opportunities in Tier 2 and Tier 3 cities.

Additionally, allowing states an additional borrowing limit of 0.5% of GSDP opens the door for more regional-level reforms and development. The budget strikes a unique balance between urban and rural growth, green initiatives, infrastructure expansion, innovation, and social welfare. In essence, this budget empowers rural India, ensuring inclusive and sustainable progress for the nation.”

Mr. Yancharla Rathnakara Nagaraja, Managing Director, Ramky Infrastructure Limited.

The budget introduces a range of infrastructure proposals aimed at fostering growth and improving efficiency across sectors. The emphasis on Public-Private Partnerships (PPP) through the creation of a 3-year pipeline of projects for each ministry reflects a clear intent to leverage private sector involvement in infrastructure development. This is further supported by the India Infrastructure Project Development Fund (IIPDF), which encourages state governments to seek assistance in project execution.

The ₹1.5 lakh crore outlay for interest-free loans to states underscores the importance of supporting regional development and incentivizing reforms. The second Asset Monetization Plan (2025-30) will unlock value from public assets, reinvesting capital into further infrastructure projects.

The ₹1 lakh crore Urban Challenge Fund is dedicated to urban reforms, focusing on improving governance, municipal services, and urban planning. Additionally, the modified UDAN scheme, which aims to enhance regional connectivity, alongside the development of greenfield airports in Bihar and the expansion of Patna airport, will significantly improve transportation infrastructure.

The support for projects like the Western Koshi Canal ERM Project demonstrates the commitment to improving agricultural infrastructure. Lastly, providing private sector access to the PM Gati Shakti portal data is a crucial step toward optimizing project planning and execution, fostering greater collaboration between public and private entities in shaping the future of India’s infrastructure.”

Mr. N S (Satya Narayana) Rao, Group CFO,  Ramky Group

“The Budget 2025 outlines a promising approach to driving sustainable growth, with a particular focus on Infrastructure. Finance Minister Smt. Nirmala Sitharaman's fiscal consolidation strategy, with a projected fiscal deficit of 4.4% of GDP for FY25-26, sets the stage for a steady transition towards a Viksit Bharat. While the capital expenditure outlay has been reduced, there is a clear shift towards innovative financing mechanisms. The increased focus on Public-Private Partnerships (PPPs) signals a more collaborative approach to infrastructure development, leveraging private sector expertise and investment. Additionally, the emphasis on supporting states with interest-free loans for capital expenditure and incentivizing reforms will help strengthen regional infrastructure. The planned asset monetization strategy is another key development, with the potential to reinvest significant capital into new projects, fueling long-term growth. Collectively, these initiatives reflect a forward-thinking approach that prioritizes sustainable infrastructure development and quality growth.”

Mr. Vivek Bhatia, MD & CEO, TKIL Industries

Balanced budget, boost for economic growth while improving on fiscal deficit

The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, prioritizes sustained reforms in manufacturing, mining, power, and skill development along with improving ease of doing business to advance the 'Viksit Bharat' vision. These sectors will be key drivers of growth, infrastructure development, governance improvements, and sustainable development for the country. We welcome the government's move towards accelerating India's manufacturing sector. Over the past decade, structural reforms have drawn global attention, and the announcement of a National Manufacturing Mission is a significant step in strengthening the Make in India initiative. This will drive clean-tech manufacturing, bolstering the ecosystem for solar cells, EV batteries, wind turbines, and more.

The ₹1.5 lakh crore allocation for 50-year interest-free loans is set to accelerate infrastructure development, unlocking new growth avenues for us. 

These strategic measures position India as a rising global manufacturing hub, seamlessly aligning with its green energy and economic ambitions.

Further, the initiatives on tax rationalisation will give a boost to the consumption economy further driving economic growth.

We applaud these initiatives and eagerly anticipate the forthcoming policy on critical mineral recovery, which will play a pivotal role in driving sustainable industrial growth.

Mr. Harsh Pareek, Regional Sales Director, India and SAARC, Trimble Solutions.

“With ₹1.5 lakh crore allocated as interest-free loans to states for infrastructure development and continued investment in highways, urban transport, and smart cities, the Union Budget 2025 reinforces the government's commitment to modernizing India's infrastructure. The emphasis on digitalization and sustainable construction practices is a welcome move that will not only enhance project efficiency but also improve quality and reduce waste. At Trimble, we see immense potential in leveraging AI, automation, and digital twin technologies to support this vision. By integrating advanced construction technologies, we can help India build faster, safer, and more cost-effective infrastructure that stands the test of time.”

Mr. Ajitesh Korupolu, Founder & CEO of ASBL

‘From a personal finance perspective, the budget introduces a significant tax exemption for individuals owning two self-owned properties, easing the financial burden for those looking to expand their real estate holdings. Additionally, the tax relief aimed at the middle class is expected to reduce the overall tax burden, giving individuals more financial flexibility as they consider buying their first home. While these moves aren't direct incentives for home loan interest, they still play a crucial role in making homeownership more accessible. Reforms in REITs are also anticipated to provide increased liquidity in the market, opening up new investment opportunities.

By focusing on infrastructure and easing the tax burden, the budget is laying the foundation for a more feasible path to homeownership, especially for those in the middle-income bracket looking to step into the real estate market.’

Mr. Balfour Manuel, Managing Director, Blue Dart.

“The Union Budget 2025-26 is a forward-looking and growth-oriented blueprint that strengthens India's economic resilience while fostering innovation and efficiency across key sectors. It lays a strong foundation for the future of India's logistics sector, reinforcing its role as a key enabler of economic growth.

The introduction of BharatTradeNet is a significant step towards digitizing trade processes, enhancing supply chain efficiency, and aligning with global best practices. Additionally, the focus on air cargo infrastructure upgradation and streamlined cargo screening and customs protocols will improve turnaround time, boost efficiency, and support high-value and perishable cargo movement. The National Manufacturing Mission is set to drive higher logistics demand, while the Modified UDAN Scheme, expanding connectivity to 120 more destinations, will strengthen air cargo networks and improve access to hinterland markets.

With a continued focus on infrastructure development, technology integration, and policy support, these initiatives will drive greater logistics efficiency and position India as a global trade and supply chain leader.”

Mr. Akshat Khetan, Founder, AU Corporate Advisory and Legal Services (AUCL)

“The Union Budget 2025 sets the stage for India to become a global manufacturing hub. The government's focus on boosting domestic production, reducing import dependency, and supporting key industries like mobile manufacturing and electric vehicles is a clear commitment to enhancing India's manufacturing capabilities. By providing tax exemptions and customs duty reductions, the budget offers the right incentives for businesses to scale up and invest in India's manufacturing sector, positioning it for long-term growth and global competitiveness.”

Mr. Sunjay J Kapur, Chairman, Sona Comstar & Deputy Chairman, CII Northern Region

“The Union Budget 2025 lays a strong foundation for sustainable urban growth, infrastructure modernisation and a thriving investment climate. The National Manufacturing Mission under Make in India will create a robust framework for industries across solar PV, electrolysers, and grid-scale batteries. The expanded ₹10,000 crore Fund of Funds will provide a vital boost to startups, driving innovation and entrepreneurship. The ₹1 lakh crore Urban Challenge Fund and enhanced infrastructure support will catalyse economic activity and improve liveability in cities. Initiatives like Atal Tinkering Labs, National Centres of Excellence, and IIT expansion will equip India's youth with future-ready skills.

Exemptions on basic customs duty for EV components and critical minerals, along with a model Bilateral Investment Treaty, reinforce India's commitment to self-reliance and global competitiveness. Overall, this budget marks a decisive step towards positioning India as a global powerhouse in manufacturing, mobility, and clean technology.”

Mr. Avneesh Sood, Director, Eros Group.

“The Union Budget 2025 brings significant relief to the middle class, making homeownership more accessible and real estate investment more attractive. The ₹1 lakh crore Urban Challenge Fund will drive city growth, improving infrastructure and livability. First-time homebuyers will benefit from enhanced tax incentives and relaxed TDS thresholds on rent, reducing financial strain. Affordable housing initiatives, including the completion of 40,000 units under the SWAMIH Fund, will provide more options for aspiring homeowners. The rationalization of property tax provisions simplifies compliance, easing the burden on buyers. Additionally, streamlined REIT regulations will enhance investment opportunities, offering the middle class new avenues for wealth creation. With a focus on infrastructure, fiscal stability, and housing accessibility, the Budget strengthens consumer confidence and supports real estate as a key driver of economic growth. These measures will empower the middle class, ensuring long-term affordability and financial security in homeownership.”

Mr. Anand Kabra, Vice Chairman and Managing Director, GEON

“The announcement of a National Manufacturing Mission focused on clean tech manufacturing marks a pivotal moment for India's sustainable industrial future. As a company deeply invested in green energy solutions and advanced battery technology, GEON welcomes this strategic policy support that will strengthen domestic manufacturing capabilities in EV batteries. The mission aims to improve domestic value addition and build our ecosystem for EV batteries, motors and controllers, electrolysers, wind turbines, very high voltage transmission equipment, and grid-scale batteries.

The Government's commitment to bolstering the renewable energy ecosystem will accelerate India's transition to sustainable energy and create a robust framework for innovation. This policy support will be transformative for India's industrial landscape, helping manufacturers reduce operational costs while advancing their sustainability goals. The focus on grid-scale batteries is particularly significant, as it will play a crucial role in stabilizing and expanding India's clean energy infrastructure. At GEON, we look forward to contributing our expertise and working alongside the Government to realize the vision of a cleaner, more sustainable industrial landscape in India.”

Mr. Arun Misra, CEO – Hindustan Zinc Limited

The budget presented by the Finance Minister is designed to accelerate growth, deeply rooted in the journey of our nation's holistic development. The increased outlay for infrastructure spending marks a new era in India's infrastructure growth which will undoubtedly provide impetus to other sectors as well. Support for states through interest-free loans to the tune of Rs. 1.5 lakhs crores and the creation of an urban challenge fund of Rs. 1 lakh crore for infrastructure projects, presents an opportunity for the manufacturing sector to develop new technologies and invest in innovation. The modernization of airports, ports, and greenfield developments further galvanizes India's infrastructure backbone, driving both employment for the youth and GDP growth.  

The mining reforms introduced in the budget position India as a key player in the critical minerals sector. The sharing of best practices and institutionalizing a State Mining Index for minor minerals along with a policy for recovery of critical minerals from tailings will enable circularity and innovation within the industry. As the country transitions to a low-carbon economy, these minerals will play a pivotal role, with metals forming the foundation of this shift. The announcement of the National Manufacturing Mission and measures to support MSMEs with access to credit & export assistance will create a robust domestic production ecosystem that will be integrated into global supply chains. As India's largest and the world's second-largest integrated zinc-lead producer, we are optimistic about the transformative impact of these initiatives which will enhance the competitiveness of India's critical minerals sector while supporting industries such as electric vehicle manufacturing and renewable energy storage.

Himanshu Kapadia, Cluster Head of India, Middle East and Turkey, Master Builders Solutions

The Budget 2025 brings a positive outlook for the construction industry. Initiatives like the Udaan scheme, economic corridors, industrial parks, and interest-free infrastructure loans to state governments are all steps in the right direction. Additionally, increased capital expenditure and policy support for urban development will further drive growth in the sector.

However, execution efficiency remains key. In 2024-25, infrastructure spending fell short of the allocated budget. This year, the government must ensure timely project execution and full utilization of funds to maximize economic impact and sectoral growth.

Mr. Vivek Lohia, Managing Director of Jupiter Wagons Limited

"India's infrastructure environment is being redefined by Public-Private Partnerships (PPPs), which give crucial projects efficiency, speed, and innovation. PPPs are speeding up execution, releasing investment, and increasing industrial capacity in the areas of manufacturing, logistics, and mobility by fusing the vision of the public sector with the experience of the private sector. The goal of this partnership is to construct a robust, future-ready economy, not only roads, railroads, and ports.

With a greater emphasis on digital integration, sustainability, and smooth mobility, PPPs will create high-value jobs and stimulate economic growth. India's competitiveness on the international scene will be further enhanced by the focus on long-term funding and structural changes. India is poised to set new standards for infrastructure quality by creating an environment where the public and private sectors collaborate.. A solid PPP structure will ensure that progress is not only world-class but also inclusive, sustainable, and aligned with India's long-term development goals.”

Mr. Rajat Verma, Founder & CEO, LOHUM

“The 2025 budget marks a watershed moment in India's journey toward clean energy sovereignty and circular economy leadership. The government's strategic vision for domestic manufacturing and critical minerals recycling demonstrates remarkable foresight in securing our sustainable future.

The elimination of import duties on lithium-ion battery scrap, cobalt powder, and an array of critical mineral wastes unlocks unprecedented opportunities. Coupled with the duty exemption expansion to 63 additional capital goods for EV and mobile battery production, this creates a robust foundation for India's manufacturing renaissance.

The landmark ₹20,000 crore investment in private-sector R&D for emerging technologies signals a transformative shift in building a sustainable critical minerals ecosystem. At Lohum, where innovation drives our mission, we recognize this as a catalyst that will revolutionize India's technological capabilities.

The introduction of a comprehensive policy for critical minerals recovery from tailing epitomizes the government's commitment to Atmanirbhar Bharat through circular innovation. This strategic initiative, alongside the National Critical Mineral Mission and an Economic Survey that deeply examines climate adaptation, charts a clear course toward India's energy independence.

We extend our appreciation to the government and stakeholders who have orchestrated these visionary reforms. This demonstrated commitment to excellence positions India as a global leader in energy transition and climate action. At Lohum, we stand ready to amplify this momentum and drive India's sustainable future forward".

Mr. Satish Kumar Agarwal, CMD, Kamdhenu Limited

“The Honourable Finance Minister Nirmala Sitharaman has presented a Budget which further strengthens India's standing as the fastest-growing economy in the country and builds on the clarion call of Aatmanirbhar Bharat made by Honourable Prime Minister Shri Narendra Modi. The allocation of Rs. 15,000 crore towards SWAMI Fund 2 and the setting up of Urban challenge fund of Rs. 1 lakh Crore for redevelopment of cities will boost infrastructure development and demand for construction materials.”

Mr. Nikhil Mansukhani, Managing Director, Man Industries Ltd. (steel pipes)

"The Union Budget 2025 prioritizes India's infrastructure and manufacturing sectors with strategic initiatives like the National Manufacturing Mission and 'Make in India,' aimed at enhancing domestic production capabilities. The ₹1.5 lakh crore interest-free loan for infrastructure and PPP projects will improve logistics, reduce bottlenecks, and boost multimodal connectivity, which is crucial for industries such as steel, oil & gas, and heavy engineering.

The introduction of Bharat Trade Net and easier export credit access will streamline international trade, making Indian manufacturers more competitive in global supply chains. However, to fully capitalize on these opportunities, it is essential to ensure faster execution, sector-specific incentives, and continuous policy support. With India's manufacturing sector set to contribute 25% of GDP by 2030, these initiatives are key to driving long-term growth and positioning India as a global manufacturing leader.”

Mr AK Tyagi, Founder, Chairman & Managing Director of Nuberg Engineering Ltd.  (Global EPC & LSTK Company)

“The Union Budget 2025-26 lays a strong foundation for India's hydrogen economy, reinforcing the nation's commitment to clean energy and industrial sustainability. With increased support for green hydrogen production, industrial clusters, and manufacturing infrastructure, the budget accelerates India's transition to a low-carbon future. Investments in plant industries and factory infrastructure will drive efficiency, self-reliance, and technological advancements in sectors like chemicals, fertilizers, and steel.

With a strong focus on industrial decarbonization and modern factory ecosystems, this budget paves the way for large-scale adoption, innovation, and a resilient hydrogen-powered industrial landscape. The emphasis on green hydrogen and ammonia-based solutions will enhance India's capabilities in clean energy storage, fostering long-term economic and environmental benefits.”

Mr. Venkatesh Gopalakrishnan, Director Group Promoter's Office, MD - Shapoorji Pallonji Real Estate (SPRE)

“The Union Budget 2025 introduces strategic measures to strengthen India's housing and urban development sectors. The sustained support for Pradhan Mantri Awas Yojana, alongside the government maintaining its robust capital expenditure trajectory with an increased allocation of ₹11.21 lakh crore, demonstrates a comprehensive approach to infrastructure development. This consistent capex commitment, coupled with expanded infrastructure investments, creates a strong foundation for real estate growth. The Income Tax reforms, which include relief on incomes up to ₹12 lakhs for the middle class, put more disposable income in the hands of the middle class, enabling them to direct funds toward both housing investments and consumer spending. This increased liquidity naturally stimulates housing demand while generating broader economic activity. Furthermore, the budget's focus on sustainable construction practices positions the sector for long-term growth by aligning with global environmental standards. These coordinated policy measures enhance market dynamics by expanding participation across income segments while fostering sustainable development practices.”

Mr Ritesh Mastipuram, Founder & MD, Ridhira Group.

 ‘The Union Budget 2025 lays a strong foundation for sustainable growth across real estate, infrastructure, and wellness-driven developments. With increased investments in urban infrastructure, affordable housing, and transit-oriented growth, the budget fosters a future-ready real estate ecosystem that aligns with evolving investor expectations. The emphasis on connectivity, green energy, and digital transformation in property transactions is set to enhance ease of doing business and attract long-term capital.

Beyond real estate and infrastructure, the budget's focus on healthcare and wellness initiatives complements the rising demand for holistic living spaces. The push for sustainable urbanization, green buildings, and wellness-centric developments will reshape residential and commercial spaces, ensuring a healthier and more balanced way of life. These measures not only strengthen the investment outlook but also position India as a leader in integrating wellness with real estate and infrastructure, driving long-term value creation.’

Mr. Brij Bhushan Agarwal, Vice Chairman and Managing Director, Shyam Metalics

 “As Budget 2025 plans revolve around national growth and getting new opportunities, it brings new initiatives like The National Manufacturing Mission while greatly focusing on the Public-Private Partnerships (PPP). Similarly, it aims to strengthen the manufacturing section of India, thus improving policies with the help of governance systems, making sure ‘Make in India’ remains a priority. Public-Private Partnership on the other hand aims to use the expertise and spending of the private sector in society’s benefit by quickening the construction of major projects like roads, bridges and urban development areas.

This plan will not only attract investment and increase the demand for steel which plays an imperative role in infrastructure development, but will also increase the industrial activity in the region. In order to attain the set future vision, The Steel sector needs to evolve towards safer and more advanced methods of production. Increased infrastructure will directly allow the steel sector to increase its production output. These changes will enhance the economy of India, along with making the country more competitive on an international scale.”

Mr. Amit Sharma, MD & CEO, Tata Consulting Engineers

The Union Budget 2025-26 delivers a transformative push across key sectors, reinforcing India's commitment to sustainable growth and self-reliance. The National Manufacturing Mission's focus on cleantech industries, including solar PV cells, EV batteries, electrolysers, and grid-scale batteries, will strengthen domestic value addition and position India as a key player in global clean energy supply chains. Investments in power transmission and distribution, along with electricity distribution reforms, will modernise the sector and ensure financial stability for DISCOMs.

Nuclear energy is a key pillar of India's energy security and self-sufficiency, supporting a steady shift to cleaner power while keeping the grid stable. The goal of reaching 100 GW of nuclear capacity by 2047 is backed by important reforms, including changes to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act, allowing private sector involvement in nuclear projects. The ₹20,000 crore investment in small modular reactors (SMRs) highlights India's plan to use its rich thorium reserves for long-term energy independence. These advanced nuclear technologies will provide reliable, scalable, and low-carbon energy, strengthening the country's energy supply. This approach broadens the energy mix and ensures long-term sustainability by reducing dependence on imported fossil fuels.

Infrastructure remains a key driver of economic growth, with ₹1.5 lakh crore in long-term interest-free loans to states and ₹25,000 crore for maritime expansion, strengthening India's connectivity and trade competitiveness. The extension of the Jal Jeevan Mission, the ₹1 lakh crore Urban Challenge Fund, and affordable housing initiatives will enhance urban living standards. The Critical Minerals Development Policy, alongside customs duty exemptions on essential resources, ensures a secure supply chain for high-tech industries, supporting India's ambitions in advanced manufacturing and clean energy. Green bonds and hydrogen R&D incentives further reinforce our commitment to a net-zero future. Tata Consulting Engineers stands ready to contribute through innovative engineering solutions, supporting India's journey towards a resilient and globally competitive economy.

Mr. Umesh Chowdhary, Vice Chairman & MD, Titagarh Rail Systems Limited

“We welcome the Union Budget 2025-26, which reinforces the government's commitment to strengthening India's rail infrastructure and operational efficiency. The ₹2.9 lakh crore allocation, a 12% increase from last year, supporting 300 new Vande Bharat trains, modernization of 1,200 stations, 100% route electrification, and bullet train expansion, will drive key developments. Investments in freight corridors and AI-driven Kavach safety systems will enhance logistics and passenger safety, while the focus on rail MRO capabilities ensures long-term reliability. Additionally, export-driven initiatives under the National Manufacturing Mission and Export Promotion Mission will bolster India's global competitiveness, opening new avenues for manufacturers and aligning with the Viksit Bharat vision.

The creation of a ₹25,000 crore Maritime Development Corpus, along with revamped shipbuilding financial assistance, will empower Indian companies to invest in modern vessels, advanced technology, and infrastructure, ultimately making them more competitive in the global market. Additionally, the establishment of shipbuilding clusters and port expansions will enhance the industry's infrastructure, leading to increased efficiency and lower costs."

Mr. Deepak Garg, Vice Chairman & Managing Director, SANY India.

Sharing his thoughts on the Union Budget 2025- 2026, Mr. Deepak Garg, Vice Chairman & Managing Director, SANY India, said, “The Union Budget 2025-26 marks a transformative step towards strengthening India's infrastructure and export capabilities. The launch of the Export Promotion Mission, coupled with sector-specific targets and digital public infrastructure for international trade, is a forward-thinking approach to elevate India's global presence in manufacturing. This initiative aligns with our commitment to support domestic manufacturing in joining global supply chains, fostering a competitive and sustainable growth trajectory. The focus on infrastructure development, including 50 years of interest-free loans and PPP incentives. Also, Rs 10 lakh crore asset monetization plan will significantly boost the construction and heavy machinery sectors. The Rs 1.5 lakh crore allocation will foster growth and investment, while the emphasis on skill development will drive innovation”

Mr. Aayush Madhusudan Agrawal, Founder & MD - Inspira Global

“The Union Budget 2025-26 lays a strong foundation for transformative growth, particularly for the restaurant and hospitality industry and the real estate sector. The government's focus on increasing disposable income through tax relief and job creation is a significant boost for our sector. We anticipate increased consumer spending, leading to higher foot traffic in restaurants, more frequent dining out, and sustained demand for food delivery services. The budget's emphasis on urban redevelopment, including the ₹1 lakh crore Urban Challenge Fund and enhanced infrastructure spending, creates exciting opportunities for mixed-use developments and real estate projects. Additionally, the allocation of ₹1.5 trillion fiscal support for MSMEs is expected to drive capacity expansion, creating a ripple effect that will further fuel demand for industrial real estate. The support for Tier-2 cities and the focus on urban innovation will not only stimulate real estate growth beyond the metros but also bolster homebuyer confidence and encourage further expansion. From gig worker welfare to the development of smart, sustainable cities, this budget's holistic approach will drive India's next wave of economic progress, creating new avenues for investment, innovation, and growth across our industries."

Mr. Amit Kumar Sinha, MD & CEO, Mahindra Lifespace Developers Ltd

”The Union Budget's emphasis on urban sector reforms and infrastructure-led growth is a welcome step towards building future-ready cities. The introduction of the ₹1 lakh crore Urban Challenge Fund and incentivization of governance and urban planning reforms will strengthen city-level development, fostering sustainable, well-planned urban ecosystems. Additionally, the government's focus on Public-Private Partnerships (PPPs) for infrastructure expansion aligns well with our Mahindra World City Jaipur (MWCJ) and Mahindra World City Chennai (MWCC) projects, which have demonstrated the success of PPP-led integrated urban development. The government's continued push towards improving ease of doing business bodes well for us as enablers of the manufacturing sector, with many leading industrial players housed in our Mahindra World Cities and Origins by Mahindra industrial clusters. Moreover, the easing of income tax slabs will further strengthen the demand for residential real estate. We look forward to continued collaboration in shaping vibrant, resilient cities that drive economic growth and enhance quality of life."

Mr. Ramesh Nair, CEO, Mindspace Business Parks REIT

“The Union Budget 2025 takes a decisive step towards strengthening India's urban infrastructure and fostering business-friendly environments. The ₹1 lakh crore Urban Challenge Fund and incentivized urban reforms will enhance governance, municipal services, and city planning, key enablers for sustained commercial growth. The national framework for Global Capability Centers (GCCs) is particularly encouraging, as we have seen GCCs emerge as some of the largest occupiers of Grade A office spaces. Strategic infrastructure upgrades in emerging cities will unlock new opportunities for businesses and further India's position as a global services hub.”

Mr. Kamal Singal, MD & CEO, Arvind SmartSpaces Ltd

"The Union Budget 2025-26 lays a strong foundation for urban transformation, with ₹1.1 lakh crore Urban Challenge Fund driving city redevelopment, infrastructure upgrades, and sustainable growth. The continued support for housing through the SWAMIH scheme and SWAMIH Fund 2 will accelerate project completions and boost homebuyers confidence.

Emphasis on public-private partnerships (PPP), asset monetization, and ease of doing business will unlock new opportunities for the real estate sector. At Arvind Smart Spaces, we welcome these initiatives, which align with our vision of building future-ready urban communities. This budget paves the way for a more dynamic and resilient real estate landscape.”

Mr. Sudhir Pai, CEO, Magickbricks

“The government's plan to develop 50 top tourist destinations will boost local economies and drive real estate growth. Improved infrastructure and rising tourism are increasing demand for residential, commercial, and hospitality properties, making these areas prime investment hubs.

Lifestyle destinations like Goa, Nainital, and Dehradun are already witnessing strong buyer interest, as investors explore opportunities for long-term gains, holiday homes, and short-term rentals. The trend highlights a growing preference for second homes that double as income-generating assets, further fueling real estate expansion in these high-demand locations.”

Mr. Chirag Shah, Fundraising & Strategy at BlackSoil

The Rs 10,000 crore boost to the Fund of Funds Scheme (FFS) in the Union Budget 2025 is set to drive innovation across sectors like fintech, health tech, and clean energy, providing crucial support for early-stage startups that face difficulties securing private investments. By routing funds through SEBI-registered Alternative Investment Funds (AIFs), the government leverages the expertise of professional fund managers, minimising the risk of inefficient capital allocation and reaffirming its confidence in startups as engines of economic growth and job creation. The scheme's long-term success will hinge on sectoral priorities, regulatory reforms, and infrastructure, shaping India's position in the global startup arena.

Comment on Clean Tech Manufacturing/ EV Batteries by Rohan Dani, Investment Professional, BlackSoil

The National Manufacturing Mission for clean tech manufacturing targets a 38% increase in domestic capacity for EV batteries, solar panels, and other critical components. This initiative will significantly reduce import dependence, bolster sustainable development, and position India for resilient, self-reliant, globally competitive progress.

Mr. Rajendra K Chodankar, Chairman & CEO, RRP Electronics Ltd.  (Semiconductor Sector).

“The Budget has proposed a significant increase in allocation to MeitY by 48% to Rs. 26,000 crore which includes subsidies for semiconductor also. The welcome move by the Government to promote compound semiconductors is also very heartening and will indeed take India beyond horizons. We are very confident that Government of India will announce Semiconductor Mission 2.0, which will boost the sector and put India on World map. I am very confident that in the changing dynamics of the World, Indian Semiconductor players like us and the others are going to play a major role and the unstinted support by Government of India and State of Maharashtra is very pivotal in the short to long run.”