By Post-Budget Quotes from Industry Leaders & Entrepreneurs
Dr. Yajulu Medury, Vice Chancellor, Mahindra University
Dr. Yajulu Medury, Vice Chancellor, Mahindra University said, “With a focus on equipping the youth for global opportunities, the National Centres of Excellence in AI and the establishment of 50,000 Atal Tinkering Labs will help students hone their skills in cutting-edge technologies towards achieving “Make for India, make for the world”. The announcement of 10,000 scholarships dedicated to fostering innovation and research, along with a National Digital Repository for knowledge systems will create a robust and future-ready education ecosystem. The budget has introduced strategic initiatives in technical education expansion which will broaden the horizon for India’s youth and empower emerging Tier-2 cities to become global hubs for tech innovation, positioning India as a leader in global manufacturing and skilling.”
Sharad Malhotra, President, Automotive Refinishes & Wood Coatings, Nippon Paint India
Sharad Malhotra, President, Automotive Refinishes & Wood Coatings, Nippon Paint India, said, “The Union Budget 2025-26 has introduced several initiatives for strengthening India’s manufacturing sector and clean mobility. The ‘Make in India’ focus of the National Manufacturing Mission will boost local production, reduce import dependence, and strengthen supply chains, creating a more self-reliant economy. This initiative also emphasizes the importance of R&D to drive innovation and enhance manufacturing capabilities within India. At Nippon Paint India, we see this as a great opportunity to contribute to clean energy innovation and sustainable manufacturing. We’re committed to expanding local production, investing in advanced facilities, driving R&D efforts for next-generation products, and partnering with industry leaders to build a robust ecosystem for growth.”
Agendra Kumar, Managing Director, Esri India
Agendra Kumar, Managing Director, Esri India said, “A big thank you to our Hon. Finance Minister for announcing several programs as part of the budget for 2025-26 to give a boost to the geospatial sector. The most important one is the setting up of the National Geospatial Mission to develop foundational geospatial infrastructure and data to facilitate land records modernization, urban planning, and infrastructure design. The users in the government, private sector, and the industry have lived with the lack of good foundational data for a very long time. I believe this announcement will provide the necessary resources to create geospatial data that will serve as a foundation for social and economic development. By improving productivity across sectors such as agriculture, natural resources, energy generation and distribution, rural and urban initiatives, and governance, this effort will drive meaningful progress. Investment in research and development fuels economic growth, improves quality of life, and shapes the future. Rs 20,000 crore investment to drive private sector-led R&D and innovation, funds for Deeptech research, 10,000 fellowships under the PM Research Fellowship Scheme, and Rs 500 crore investment for a CoE in AI for education, are transformative steps to make India more competitive at the global level in terms of innovation and IP creation. Overall, the budget has set strong grounds for equipping India with the skills and resources necessary to navigate the evolving global landscape and achieve its vision of being a technologically advanced and prosperous nation.”
Dr. Sanjay Gupta, Vice Chancellor, World University of Design
Dr. Sanjay Gupta, Vice Chancellor, World University of Design said, “The Union Budget underscores the crucial role of AI and the need for upskilling, with the establishment of a National Centre of Excellence in AI being a pivotal step. This focus on AI will particularly benefit the design and creative sectors, propelling them to new heights and driving progress toward a ‘Vikshit Bharat.’ Additionally, the increase in seats for technological research, as announced in the budget, will strengthen the academic landscape and pave the way for groundbreaking innovations across various industries.”
Lt. Gen. AK Bhatt (Retd.)
Lt. Gen. AK Bhatt, Director General, Indian Space Association (ISpA), said, “The announcement of the National Geospatial Mission shows the growing commitment of the government to use the downstream capabilities of the space tech sector. We welcome the announcement in the Union Budget to facilitate the modernization of land records, urban planning, and design of infrastructure projects under this crucial mission it is good to see how the industry and the government have realized the importance of these emerging technologies. Even the Ex-ISRO Chairman Shri S. Somanath last year stressed the need to focus on developing downstream capabilities to generate demand and attract investments in upstream activities like satellite development and launch services in India’s space sector. According to the ISpA-nasscom-Deloitte report, the market for the downstream space tech segment is expected to reach ~USD 610 billion by 2031.
The Budget’s focus on setting up National CoE for skilling is an exciting announcement which would help in upskilling our growing youth talent which is in dire need of these measures to compete on a global level. Also, the announcements around New Fund of Funds (FoF) for startups, setup of 50,000 Atal Tinkering Labs, an enhanced Credit Guarantee Scheme for Startups and the DeepTech Fund of Funds will give further push to the growing startup ecosystem including the space startups which are at a nascent stage.”
Gururaj, Managing Director, Optiemus Electronics
A. Gururaj, Managing Director, Optiemus Electronics, said, “The Union budget has rightfully given impetus osn boosting the purchasing power of a large population with Tax relaxation and support to Agriculture and farming community. We firmly believe that with more money in hands farmers’ capability to adopt new technologies like Drones significantly improves and helps grow the market faster. For electronics manufacturing, the relaxation in Basic Custom duties for certain components is a positive step and a continuation of earlier policy initiatives and will boost indigenous manufacturing. We welcome the union budget in letter and spirit as both developments positively impact the Optiemus Group. We look forward to continuing to support the growth of our economy with our efforts.”
Krishanu Acharya, CEO, Suhora Technologies
Krishanu Acharya, CEO, Suhora Technologies said, “It’s heartening to notice the emphasis given to Geospatial services in the Union Budget, we welcome the launch of a National Geospatial Mission to develop spatial data aimed at modernizing land records across the country. This is expected to give a flip to Geospatial services, expand market and its potential. The decision to grant the private sector to access PM GatiShakti essential data and maps, facilitating better planning and infrastructure development is path path-breaking step and has the potential to transform the sector. Suhora looks forward to working more closely with the government and our customers to bring Geospatial insights for further growth of our country and economy.”
Archana Jahagirdar, Founder & Managing Partner, Rukam Capital said, “When startups are included in the central government’s annual budget planning, it is a moment to celebrate. We commend the Hon’ble Finance Minister for recognizing securities held by AIFs as Capital Assets—a decision that strengthens the case for CAT I & II by ensuring that gains from securities are treated as capital gains and that GST on security sales remains outside the framework. Additionally, the launch of the new ₹10,000 crore round under the Fund of Funds for Startups (FFS) scheme reaffirms the government’s dedication to fostering innovation and entrepreneurship. This renewed fund which aligns with the Startup India Action Plan and initiatives like the Startup Mahakumbh has played a pivotal role in driving India’s startup boom since its inception. We believe that increased financial support from the government, alongside efforts to reduce capital constraints and collaboration with industry will further accelerate the growth of Indian startups.”
Joyshree Das Verma, National President, FICCI FLO
Joyshree Das Verma, National President, FICCI FLO said, “As we analyze the proposed measures in the Union Budget, we applaud the government’s focus on empowering the less-recognized segments of our society, particularly women and marginalized communities. The introduction of term loans for 5 lakh women from SC/ST communities is a commendable step toward financial inclusion, providing critical resources for entrepreneurship. The Saksham Anganwadi and Poshan 2.0 programs will significantly improve nutrition for vulnerable children, mothers, and adolescent girls, laying the foundation for healthier future generations. The scheme for first-time entrepreneurs, especially women, SC/STs, presents immense potential for fostering innovation and economic growth. This budget reflects the government’s commitment to building an inclusive, self-reliant India, and at FICCI FLO, we are eager to collaborate in turning these initiatives into impactful successes. The Budget also offers strong support for MSMEs, with enhanced credit availability, new credit cards for micro-enterprises, and schemes to foster growth and job creation in labor-intensive sectors like footwear, toys, and food processing. I am truly optimistic about the transformative impact these measures will have on our economy and society.”
Parveen Kumar, National Head Assurance at ASA & Associates LLP, said, “Those appreciating this budget are talking about relief to the middle class through higher tax rebates, easing income on house property and relief from tax on National Saving Scheme withdrawals besides the reduction of rates of TDS and TCS. Others discuss political motivation, tilt towards specific states and anxiety about uncertainty in the new tax bill. The Finance Minister has done her job well.”
