Pre-Budget Quotes from Industry Leaders & Entrepreneurs

As the Union Budget 2025 approaches, industry leaders from various sectors are voicing their expectations and hopes for growth and advancements.

Archana Jahagirdar, Founder & Managing Partner, Rukam Capital said“In the last 10-12 years, the government has actively collaborated with the startup ecosystem and introduced new schemes and policy changes, such as the abolition of the angel tax in the previous budget. We expect this support to continue in the future as well. In the upcoming budget, we have two key requests for the government. Firstly, employees who join early and take risks should be rewarded, not taxed when the ESOP is exercised, as opposed to when there is a sale of those equities. It would be fairer to tax ESOPs only when the shares are sold, aligning the tax obligation with the employee’s financial ability to pay. Secondly, there is an urgent need for a sovereign fund, similar to those maintained by several governments around the world. In a milestone move, the government announced a Rs. 1000 cr VC fund for space startups in the previous budget. Similarly, we need to unlock more capital through various pools within the government. Though India now has a fair amount of domestic capital available, the government must look for ways to unlock institutional capital and be available for startups. Institutionalizing risk capital, which can then flow through VC funds to startups, is crucial for the overall growth of the Indian economy and the startup ecosystem.”

Joyshree Das Verma, National President, FICCI FLO

Joyshree Das Verma, National President, FICCI FLO said “With women comprising nearly 48% of India’s population yet contributing only about 18% to the GDP, the Union Budget 2025-26 presents a critical opportunity to bridge this gap. At FICCI FLO, we’re hoping for targeted measures like incentives for women-led businesses, easier access to credit, and programs to enhance digital and financial literacy. Investments in healthcare, education, and sustainability would further empower women across sectors. A gender-responsive budget can unlock immense potential and drive inclusive growth. We’re optimistic about policies that not only support women entrepreneurs but also create a more equitable and innovative future for the nation.” 

Dr. Sanjay Gupta, Vice Chancellor, World University of Design

Dr. Sanjay Gupta, Vice Chancellor, World University of Design said “As Vice Chancellor of the World University of Design, I see India poised at a critical juncture in the global creative economy. Our animation, AR/VR, and design sectors are demonstrating world-class capabilities, while our educational institutions are producing exceptional creative talent. With the global creative industry projected to reach unprecedented heights – the AR/VR market alone touching $165 billion by 2030 – India has a unique opportunity. By combining our cost-effective talent pool with strategic policy support, we can transform from a service provider into a global creative powerhouse. The time for concerted action is now.”

Agendra Kumar, Managing Director, Esri India

Agendra Kumar, Managing Director, Esri India said “The Union Budget for 2025-26 is expected to prioritize increasing investments in defense, manufacturing, infrastructure, and sustainable energy initiatives along with supporting the agricultural sector, ensuring a stable and dispute-free tax environment, and promoting innovation and entrepreneurship. With programs like ‘Mission Mausam’ in place, we expect more focus on promoting the use of innovative technologies for building a climate-resilient country.  The Budget is expected to drive innovation through focused investments in Deep Tech and the geospatial ecosystem. India’s DeepTech ecosystem shows immense growth potential and with advancements in AI, IoT, robotics, and drone technologies, it ought to play a pivotal role in shaping India’s position as a global innovation leader.  India’s geospatial sector is projected to grow at a CAGR of 16.5% to reach Rs 25,000 crore by 2025. The Union Budget must focus on simulating this growth through innovative government policies and allocation of funds for R&D in tech.”  

Dr. Yajulu Medury, Vice Chancellor, Mahindra University

Dr. Yajulu Medury, Vice Chancellor, Mahindra University said“We anticipate increased funding for the education sector in the upcoming budget as we see the growing emphasis on skill development, experiential learning, and research and development. The government’s focus should include initiatives such as tax incentives, industry-aligned training programs and faster patent approvals. Our young entrepreneurs need a strong support system right now. Increased financial incentives, simplified regulatory frameworks, and enhanced incubation support, will further stimulate the technological advancements. The government can establish more centres of excellence. However, it’s important to note that the success of these initiatives will also depend on the active participation of the private sector through public-private partnerships. Support towards these partnerships can enhance learning opportunities among students and make education more accessible. This approach can facilitate interdisciplinary education initiatives and bridge the gap between academic knowledge and practical application, ensuring a more holistic and effective education system.”

Ganesh Gopalan, Co-founder and CEO, Gnani.ai

Ganesh Gopalan, Co-founder and CEO, Gnani.ai said “The government has made impressive strides in advancing artificial intelligence, and the 2025 Union Budget presents an opportunity to build on this momentum by further bolstering the AI ecosystem. Increased investments in AI research and development, along with funding for the IndiaAI Mission and a significant budget allocation for AI startups, will be pivotal in driving innovation and adoption across sectors. Additionally, the development of advanced GPU infrastructure is crucial to support AI deployment at scale. Investments in ethical AI frameworks, and AI-powered entrepreneurship can transform industry dynamics while fostering growth. This strategic vision will ensure India is well-positioned to capitalize on the immense potential of AI, both domestically and globally.”

Mr. Sriram Kannan, Founder & CEO, Routematic

said, “Budget 2025 holds the promise to drive transformative change in India’s transportation and sustainability landscape. We expect a strong focus on accelerating the adoption of electric vehicles (EVs) and shared mobility solutions, supported by advancements in AI technology and innovation. Expanding the 5% GST on EVs to batteries can lower production costs, making EVs more affordable for consumers. Equally important is the development of robust charging infrastructure across the country and policy measures that simplify tax structures and improve funding access for startups innovating in shared mobility and AI-driven route optimization. The govt should also look into encouraging corporates to embrace shared mobility as a cornerstone of sustainable transportation through tax benefits for organizations adopting shared mobility solutions and integrating electric vehicles (EVs) into their fleets.  These initiatives will empower innovation and fuel growth, creating a sustainable and future-ready mobility ecosystem. At Routematic, we remain committed to leveraging AI and advancing sustainable mobility and contributing to India’s vision of a cleaner, greener future.”