Lucknow: The Union Budget 2025-26 lays out a visionary roadmap for India’s economic transformation, with a strong emphasis on fostering innovation, entrepreneurship, and infrastructure development. Enhanced support for MSMEs, a focus on skill development, and urban transformation initiatives are set to play a crucial role in industrial growth and job creation, particularly in Northern India. The Confederation of Indian Industry (CII) has welcomed these strategic measures and looks forward to working closely with the government for their swift implementation, aiming to make the economy more competitive and inclusive.
Smita Agrawal, Chairperson of CII Uttar Pradesh and Director & CFO of PTC Industries Limited, stated that the Union Budget 2025 is a commendable and balanced step paving the way for India’s economic progress. The Agricultural District Program will aid farmers, promoting sustainable development in rural areas. Increasing credit guarantees for MSMEs and startups is a strategic move to motivate small businesses towards greater investment and expansion. Boosting domestic manufacturing, especially in sectors like leather, footwear, and toys, will strengthen India’s position in global supply chains and create millions of new jobs. Furthermore, customs duty exemptions on cobalt powder, lead, zinc, and lithium-ion battery scrap are significant strides towards positioning India as a key player in clean energy and battery manufacturing.
Uttar Pradesh, with its current focus on industrial growth, urban reforms, and infrastructure development, is poised to benefit significantly from these reforms, solidifying its role as a critical part of India’s economy. The budget clearly underscores the government’s commitment to self-reliance, green growth, and inclusive development.
Dr. Upasana Arora, Vice-Chairperson of CII Uttar Pradesh and Managing Director of Yashoda Super Specialty Hospital, emphasized that India’s future lies in innovation and world-class infrastructure, and this budget aligns with that vision. The expansion of IITs, introduction of 10,000 new medical seats, and establishment of AI Centers of Excellence will equip the youth with essential skills, bolstering the nation’s economy. The ₹1 lakh crore Urban Challenge Fund will enhance urban governance, municipal services, and city planning. Additionally, the UDAN scheme’s expansion will improve air connectivity in remote areas, fostering economic opportunities.
The budget also places a strong emphasis on social empowerment. Increased funding for ‘Saksham Anganwadi’ and ‘Poshan 2.0’ will improve maternal and child nutrition, enhancing health outcomes. A focus on skill development and employment promotion will create new career opportunities for the youth, contributing to national growth.
Furthermore, the exemption of basic customs duty on 36 life-saving drugs and a 5% concessional duty on six critical medicines will make healthcare more affordable and accessible.
Madhav Singhania, Chairman of CII Northern Region and Deputy MD & CEO of JK Cement Limited, praised the budget as pragmatic and visionary, fostering a robust and globally competitive economy. Holistic programs for vegetables, fruits, and millets will encourage agricultural diversification towards high-value crops, ensuring nutritional security and better income opportunities for farmers.
Prioritizing private sector investment and strengthening the MSME ecosystem will pave the way for sustainable industrial development and job creation. Enhanced credit availability for MSMEs, the establishment of a National Manufacturing Mission, tax simplification, and targeted manufacturing incentives will significantly promote entrepreneurship and innovation. The government’s robust infrastructure initiatives and accelerated urban development plans are set to be transformative. This visionary budget strikes a balance between inclusive development and economic momentum, laying a solid foundation for a ‘Developed India.’
Sanjay Kapoor, Vice-Chairman of CII Northern Region and Chairman of Sona Comstar, highlighted the budget’s role in fostering sustainable and smart development. It sets a strong foundation for sustainable urban growth, infrastructure modernization, human resource development, and an investment-friendly environment. Under ‘Make in India,’ the National Manufacturing Mission will provide a robust framework for industries like solar PV, electrolyzers, and grid-scale batteries. The ₹10,000 crore extended ‘Fund of Funds’ will give startups the necessary boost, encouraging innovation and entrepreneurship. The ₹1 lakh crore Urban Challenge Fund and enhanced infrastructure support will stimulate economic activities and improve urban living standards.
He added that the revised UDAN scheme, connecting 120 new destinations, will boost trade, tourism, and investment opportunities. Initiatives like Atal Tinkering Labs, Centers of Excellence, and IIT expansion will equip Indian youth with future-ready skills. Customs duty exemptions on EV components and critical minerals, alongside the model Bilateral Investment Treaty, will strengthen India’s self-reliance and global competitiveness. Overall, this budget is a decisive step towards making India a leader in global manufacturing, mobility, and clean technology.
Anurag Gupta, Chairman of CII Chandigarh and Managing Director of Usha Yarns Limited, appreciated the government’s focus on economic growth. Targeted support for manufacturing, exports, and agriculture will accelerate India’s economic momentum. Promoting public-private partnerships (PPP) in infrastructure, incentives for high-value manufacturing, and the ‘Bharat TradeNet’ digital platform will enhance global competitiveness. Agriculture-centric initiatives like the Prime Minister’s Dhan-Dhanya Krishi Yojana and extended credit facilities will boost productivity and rural prosperity, strengthening India’s self-reliance.
Navesh Narula, Chairman of CII Himachal Pradesh and Director of Tesna Tech Private Limited, emphasized the budget’s focus on technology and innovation. Allocating ₹20,000 crore for private-sector-led R&D and establishing AI Centers of Excellence will accelerate innovation, improve productivity, and strengthen India’s global technological leadership. These forward-looking measures will enhance competitiveness, create jobs, and position India as a hub for emerging technologies and research.
In summary, the Union Budget 2025 strikes the right balance between reforms, investments, and long-term growth, providing a robust roadmap for India’s future.
