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.”