As the Union Budget 2025-26 approaches on February 1, anticipation builds across various sectors. Business leaders outline their hopes and e...
As the Union Budget 2025-26 approaches on February 1, anticipation builds across various sectors. Business leaders outline their hopes and expectations, emphasizing reforms that could steer India toward sustained growth amidst global economic fluctuations. Here’s what key industry heads have to say:
Dheeraj Arora,
MD & CEO, Hygienic Research Institute Pvt. Ltd. (HRIPL)
Parent Company of
Vasmol, Streax & Streax Professional
“The Union Budget
2025-26 has the potential to be a transformative moment for India’s economy. We
look forward to tax reforms that could strengthen India’s position as a global
economic leader. Key areas include boosting private consumption and enhancing
investment activity, vital for growth in uncertain times. Addressing
structural supply-chain issues, incentivizing domestic production, and reducing
delivery costs will be crucial in fortifying our economic resilience.”
Rohit Gupta,
Vice President-Finance, Hygienic Research Institute Pvt. Ltd. (HRIPL)
“With the backdrop
of global trade volatility, we expect the budget to introduce initiatives that
enhance the competitiveness of Indian exports. Measures such as tariff
rationalization, duty exemptions, and efficient remission schemes are essential
to lowering export costs and expanding our global trade presence.
Post-election, we anticipate increased government spending in FY 2025, which
should foster long-term development in agriculture and industry.”
Satyen Momaya,
CEO, Celio India
“The retail sector
is poised to play a pivotal role in India’s economic growth and job creation.
We urge the government to stimulate consumer demand by reducing personal income
taxes and lowering interest rates. The apparel and lifestyle retail segments,
which have faced challenges due to subdued demand and inflation, would benefit
from maintaining current GST rates for products priced at ₹1,000 and above.
Additionally, a swift rollout of the National Retail Policy would streamline
operations, supporting long-term sector growth and making significant
contributions to the economy.”
These perspectives
underscore the diverse yet unified call for reforms that can drive robust
economic progress and position India as a resilient player on the global stage.
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