Vivek Jalan, Partner Tax Connect Advisory Services LLP
The economic survey emphasizes on deregulation and simplification of business procedures as a compulsion rather than as an option in the current day geo-political environment. This can be done by reducing layers of operational conditions to policies to prevent abuse and making them incomprehensible and complicated. Therefore simplification of TDS/TCS in norms in Income Tax, MOOWR/IGCR Scheme in Customs and of course simplification of GST is what seems on the anvil in the budget going forward among other policy changes.
Due to geo-political conditions India’s export is expected to be tepid and India will have to press the levers on domestic consumption as well as manufacturing for growth. However, India’s manufacturing of raw materials, components, parts, etc is far from self-sufficient and hence its dependence on global supply chains create a road block. Much more push needs to be given to manufacturing raw materials, components, parts, etc. Green mobility should be the focus area.
Pradeep Aggarwal. Founder & Chairman, Signature Global Group and Chairman, ASSOCHAM – National Council on Real Estate, Housing and Urban Development
“The Economic Survey 2025 underscores India’s economic resilience, with projected GDP growth of 6.4% for FY25 and sustained momentum across key sectors. Real estate remains a cornerstone of this growth, with over 1.38 lakh projects and nearly 96,000 agents registered under RERA, ensuring greater transparency and consumer confidence. Housing continues to be a national priority, with 1.18 crore homes sanctioned under PMAY-U and 2.69 crore rural homes completed under PMAY-G. As the government drives regulatory reforms and infrastructure expansion, the sector is set to play a pivotal role in achieving the vision of ‘Viksit Bharat 2047’—a developed and inclusive India. A strong, well-regulated real estate market will not only boost economic productivity but also enhance urbanization, sustainability, and quality of life for millions.”
Yuji Kato, Director & CEO, Krisumi Corporation
India’s remarkable economic trajectory has positioned it as a key player in the global business landscape. Over the years, progressive reforms and policy shifts—such as digitization, tax restructuring, and FDI liberalization—have enhanced the ease of doing business, attracting multinational corporations to invest and expand in the country. These initiatives have laid a strong foundation, but the next phase of growth demands deeper structural reforms to unlock India’s full potential.
As a long-standing economic partner, Japan recognizes India’s immense opportunities. However, to further strengthen investor confidence, Budget 2025 could focus more on simplifying regulatory frameworks, expediting land acquisition processes, and reducing bureaucratic hurdles. A more predictable and transparent policy environment will not only accelerate foreign investments but also foster innovation, technology exchange, and industrial growth.
For Japanese businesses, India offers a strategic market with dynamic potential. By addressing operational complexities and enhancing infrastructure—especially in digital connectivity and sustainable industries—the government can create an ecosystem where global enterprises, including those from Japan, can thrive and contribute meaningfully to India’s long-term growth story. The time is right for India to solidify its position as a global investment powerhouse.