As India prepares for the announcement of the Union Budget 2025, various sectors have outlined their expectations, highlighting the transformative potential of key reforms and investments. This budget holds significant promise for advancing India’s growth trajectory, particularly through fostering technological innovation, supporting small businesses, and enhancing the retail and digital infrastructure. Industry leaders share their insights and hopes for the forthcoming budget.
Inclusive Growth and Regional Development
Mr. Anjan Pathak, CTO and Co-founder of Vantage Circle, emphasized the importance of driving inclusive growth in regions like Northeast India. He remarked, “As we approach the Union Budget 2025, we hope to see measures that drive inclusive growth, particularly in regions like Northeast India, which hold immense potential for innovation and entrepreneurship. Strengthening digital infrastructure, expanding support for MSMEs, and enhancing access to emerging technologies like AI-driven automation and blockchain could significantly boost regional development and economic progress.”
Shaping a Viksit Bharat with Technology
Leela Kaza, Founder and Co-CEO of Bounteous x Accolite, highlighted the critical role of technology in shaping India’s future. “We hope to see a budget emphasizing digitalization and investing in transformative technologies such as artificial intelligence, quantum computing, biotechnology, and semiconductor manufacturing. Equally critical are investments in skill development, AI-focused R&D, and incentives to modernize industries like healthcare, manufacturing, retail, and agriculture,” said Kaza. She also pointed out the potential of expanding innovation hubs in tier-2 and tier-3 cities, fostering public-private partnerships, and enhancing advanced infrastructure.
Boosting the Retail Sector
The retail sector has seen significant growth, and industry leaders are optimistic about targeted reforms in the upcoming budget. Rohan Bhargava, Co-Founder of CashKaro and EarnKaro, stated, “Retailers are eagerly looking forward to the faster implementation of the National Retail Policy, which can provide a structured framework to support growth. Low-interest financing and targeted tax breaks could ease operational challenges, especially for MSMEs. Promoting technology adoption in retail is equally crucial to help traditional players compete effectively with the growing quick commerce segment.”
Neeti Sharma, CEO of TeamLease Digital, also emphasized, “Key measures such as low-interest financing, tax relief, and an accelerated rollout of the National Retail Policy are expected to address structural gaps and enhance ease of doing business. Extending MSME benefits to retail and wholesale traders will be pivotal in supporting broader economic objectives.”
Empowering the E-commerce Industry
Swati Bhargava, Co-Founder of CashKaro and EarnKaro, shared her perspective on the e-commerce sector, stating, “Clearer regulations around inventory norms, marketplace roles, and consumer protection are essential for creating a stable and predictable business environment. Expanding digital infrastructure, particularly in rural areas, can unlock untapped markets and boost rural economies by bringing more consumers and businesses online.”
Fostering Growth in the Restaurant Industry
Mr. Rajat Agrawal, CEO of Barista Coffee, highlighted specific needs for the restaurant sector. He advocated for a single-window policy for faster restaurant openings, uniform licensing across states, and seamless renewals. Additionally, he suggested “availability of input tax credit on Opex and capital spending” and “easy permissions and licensing for 24*7 operating formats” to encourage business expansion and job creation.
IT and Technology Expectations
India’s IT sector remains a cornerstone of the economy, with significant pre-budget expectations. Neeti Sharma pointed out the importance of incentivizing emerging technologies like AI, quantum computing, and blockchain, alongside tax relief for R&D investments. She emphasized the need for skilling programs in AI and cybersecurity to bridge talent gaps and position India as a tech innovation hub.
Rohan Bhargava added, “Increasing investment in R&D for emerging technologies such as AI, 5G, and semiconductors will foster innovation and attract top talent to India. A strong data protection framework will further build consumer trust and enable responsible data usage.”
Key Takeaways for Budget 2025
The Union Budget 2025 offers a unique opportunity to:
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Drive inclusive regional growth by strengthening digital infrastructure and supporting MSMEs.
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Prioritize investments in transformative technologies and skill development to shape a tech-forward economy.
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Address structural challenges in retail and e-commerce, fostering growth and innovation.
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Support the restaurant industry with streamlined policies and incentives.
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Solidify India’s position as a global leader in IT and digital innovation through robust R&D and infrastructure investments.
As India moves closer to realizing its vision of a $1 trillion digital economy, the 2025 Union Budget has the potential to be a landmark moment in shaping the nation’s economic and technological future.