The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, has sparked widespread discussions across industries. With a strong emphasis on economic growth, infrastructure, sustainability, and technological innovation, the budget paves the way for India’s next phase of transformation. Industry leaders from various sectors have shared their insights, applauding key provisions while also outlining the road ahead.
Industry Leaders’ Reactions to the Budget
- Empowering MSMEs and Startups
Pratik Kakadia – Founder & Managing Director, Sahana System
“The Union Budget 2025 reinforces the government’s commitment to empowering MSMEs and startups through enhanced capital access, technological advancements, and ease of doing business. The increased investment and turnover limits—2.5x and 2x, respectively—will instill confidence, enabling businesses to scale and generate more employment. Expanding credit guarantee coverage will unlock an additional ₹1.5 trillion in credit over the next five years. The proposed Deeptech Fund of Funds and 10,000 fellowships for tech research at IITs and IISc will drive deep-tech innovation, fostering a robust technology-driven ecosystem.”
- Boosting Consumer Spending
Radhika Gupta, MD & CEO, Edelweiss Mutual Fund
“Consumption is the word of the day! Given the economic backdrop and global turmoil, this budget directly addresses immediate needs by putting more money into people’s hands. The increase in tax exemptions from ₹7.5 lakh to ₹12 lakh is a bold, not incremental, move that will drive consumer spending.”
- Advancing AI and Skilling Initiatives
Lakshmi Mittra, Senior Vice President & Head, Clover Academy
“This budget lays a strong foundation for India’s future, emphasizing skilling, AI, and technological innovation. The establishment of five National Centres of Excellence for skilling will strengthen India’s global IT leadership. Additionally, the PM Research Fellowship’s 10,000 scholarships for IITs and IISc will fuel advancements in AI and deep tech. The Centre of Excellence in AI for Education will democratize AI learning and integrate it into India’s academic fabric. Regulatory reforms further signal a more agile, innovation-friendly business landscape.”
Puneet Gupta, Vice President & MD, NetApp India/SAARC
“India’s commitment to innovation, skill development, and entrepreneurship is evident in this budget, particularly in AI and deep tech. Investments in Centres of Excellence and tinkering labs will accelerate AI adoption and technological prowess. Businesses must modernize data management for mission-critical AI workloads, and NetApp remains committed to supporting enterprises in leveraging AI, cloud, and data solutions to align with the government’s vision for digital transformation.”
- Fiscal Stability and Economic Growth
Uday Kotak, Founder, Kotak Mahindra Bank
“A budget focused on steady fiscal consolidation. A tax boost for the middle class should help drive consumption. The government’s efforts to improve the ease of doing business are also commendable.”
Kunal Shah, Founder, Cred
“New income tax limits could lead to a significant jump in Gen Z spending patterns.”
- Strengthening India’s Workforce and Cybersecurity
Vishak Raman, VP of Sales, India, SAARC, SEA & ANZ, Fortinet
“‘Viksit Bharat’ lays out a clear roadmap for skill development and employment generation. The establishment of 50,000 Atal Tinkering Labs at the school level fosters a culture of innovation. The five National Centres of Excellence will bring global expertise to skilling programs. The Centre of Excellence in AI for Education highlights the need for a robust AI talent pool. We welcome the 50% duty cut on telecom switches, which will lower the cost of secure networking. Cybersecurity remains a critical focus, and Fortinet is committed to bridging the skills gap through training and partnerships.”
- Driving India’s Digital and Green Economy
Rajeev Suri, Chair, M-KOPA
“The budget’s focus on AI and digital infrastructure will accelerate India’s position as a global technology leader. Building a tech-savvy workforce will unlock immense innovation opportunities across industries.”
Priya Verma, CEO, Environmental Consultancy
“India’s investment in green energy projects signals a sustainable future for businesses. This budget aligns with global trends and equips Indian enterprises to thrive in a green economy.”
Dr. Ravi Shankar, CEO, Major Healthcare Provider
“A landmark move towards equitable healthcare, particularly benefiting underserved rural areas. The budget’s healthcare provisions will drive inclusive growth and accessibility.”
Conclusion: A Forward-Thinking Budget with Bold Aspirations
Industry leaders have widely welcomed the Union Budget 2025 for its forward-thinking approach, particularly in areas such as digital transformation, sustainability, and infrastructure development. By prioritizing key sectors like AI, healthcare, education, and green energy, the government has laid a strong foundation for India’s continued economic growth. However, experts stress that the successful execution of these provisions will be crucial in realizing their full potential. As India moves toward a more digitally empowered and sustainable future, the Union Budget 2025 marks a significant step in shaping the nation’s economic trajectory.
Also read: Viksit Workforce for a Viksit Bharat
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