Akshali Shah, Executive Director of Parag Milk Foods Ltd
The dairy sector plays a vital role in supporting rural livelihoods and meeting the nation’s nutritional needs. As we approach the budget, we anticipate initiatives aimed at enhancing dairy production through increased investment in advanced infrastructure, technological innovation, and access to affordable financing for farmers. While the FMCG sector has faced challenges due to muted consumption growth in recent quarters, India’s dairy market has demonstrated notable resilience. By addressing diverse consumer needs from everyday essentials to premium and health-centric offerings, India’s dairy sector remains a strong performer in an otherwise subdued consumption environment. These strategies reflect the shift in momentum towards branded and value-added dairy products, even amidst headwinds faced by the FMCG industry. The dairy industry has continued to grow, driven by the rising demand for health focused, protein-rich diets and value-added products. Another important aspect of the budget should focus on encouraging correct labeling standards and promoting consumer awareness about quality dairy products which are crucial to building trust and ensuring long-term growth. Policy support for sustainable dairy practices, modernized supply chains, and skill development for farmers will empower the industry to meet growing demand while aligning with global quality standards.”
Dr. Vishal Arora, Chief of Business Transformation & Operational Excellence, Artemis Hospitals
“The Union Budget 2025 offers a critical opportunity for India to address long-standing gaps in its healthcare system, which stands at the brink of transformative reforms. We appreciate and recognise the proposals aimed at enhancing hospital infrastructure, reducing the costs of cancer care, and strengthening medical education. Long-term impact is only possible if we look beyond piecemeal solutions and develop a comprehensive, future-ready health-care strategy.
Advancing Digital Health and Telemedicine
A major part of this transformation should be a strong investment in digital health solutions such as telemedicine, AI-driven diagnostics, and health data interoperability. Not only will it bridge the gap between cities and towns but also ensure access to quality care in even the most remote corners of the nation. While including technology within healthcare delivery, it would ensure that India possesses high priority among all other related areas regarding digital health. It would be both efficient and accessible for every concern in the country.
Prioritising Preventive Healthcare
Equally important change would be from the reactive type of healthcare system to a preventive one. Sufficient allocations must be made for addressing the root causes of diseases in the form of wellness programs, mental health programs, and nutrition-based interventions. Such investments would help reduce the incidence of chronic diseases, ease the burden on the public health system, and improve the quality of life for millions of people. The national health agenda should expand mental health services and improve wellness in general.
Sustaining a Skilled Workforce
The sustainability and growth of the health workforce in India form another area of utmost importance. While scaling up infrastructure, equal importance must be given to attracting, training, and retaining skilled healthcare professionals, more particularly in underserved and rural areas. A skilled and motivated workforce is the driving force behind quality healthcare; investment in welfare, capacity building, and upskilling transform infrastructure advancement into tangible, improved outcomes in patient care.
Increasing Healthcare Expenditure
The current healthcare expenditure in India is less than 2% of GDP, which is very low compared with the average in other countries. To make meaningful progress on healthcare accessibility and quality, it is imperative to increase this allocation to at least 2.5% of GDP. Higher allocation will be able to facilitate critical investments in infrastructure, rural healthcare, digital health, and preventive care. The extent of the National Health Mission will expand along with health insurance coverage that ensures many more will be benefitted, specifically in rural India, toward better and accessible care.
A Holistic Vision for Sustainable Healthcare
The Union Budget 2025 must be a catalyst of this change in that it is not only putting investment into the healthcare infrastructure but also a whole, sustainable health approach. If India focuses on preventive healthcare, digital health innovations, and workforce sustainability, it is going to make long-term health burdens smaller and better patient outcomes and put the country in a leadership position among other countries about value-based health care.”
Mr. Anindith Reddy, Managing Director & Co-founder, Enliva
“The first comprehensive budget of the Modi 3.0 government needs to have a clear stance for the country’s manufacturing industry. Tariff rationalization to resolve inverted duty problems as well as the expansion of the PLI scheme must occur, so the import dependence is lowered, domestic fabrication expands, and the supply and demand imbalance is balanced. Getting more manufacturers who focus on domestic value addition and labor is also a very important step. Setting up an easier application process with performance criteria targets and support for the MSME will ensure many more stake holders are involved in the manufacturing environment.
To protect the Indian glove industry, the government needs to control the import of low-grade chlorinated gloves, which increased by more than half from July to August 2024, reaching 460 million. These imports mainly come from Malaysia, Thailand, Vietnam, and China. The increase in these imports poses a safety concern as well as affects the ‘Make in India’ campaign. Strengthening the glove R&D with a strong focus on quality will be required to ensure the strength of the industry.”
Riddhi Bhagat, Founder, Binge on Baked (BoB)
“We propose a relaxation of the basic income tax exemption limit under the old tax regime (from Rs 2.5 lakh to RS 3.5 lakh) and the increase in the standard deduction under the new tax regime (from Rs 50,000 to Rs 75,000) so that the middle-income and lower-middle-income consumers, who constitute a significant portion of FMCG customers, can have a more disposable income. We expect a reintroduction of the concessional corporate tax rate in the upcoming Union Budget 2025. Even lowering GST rates on FMCG products, such as personal care and packaged foods, from 18% to 12% can significantly benefit the industry and consumers. Like other industries, FMCG also thrives on innovation. We expect an increased budget allocation and tax incentives for R&D. Research in areas such as eco-friendly alternatives, packaging and nutrition will enable companies to stay ahead in the innovation curve. An expansion of the PLI scheme will be crucial for the industry when it’s grappling with slowing down of rural consumption and increasing urban inflation. The scheme will further encourage domestic manufacturing, reduce dependency on imports, and promote the “Make in India” initiative and Viksit Bharat 2047 agenda.”
Mr. Anindith Reddy, Managing Director & Co-founder, Enliva
“The first comprehensive budget of the Modi 3.0 government needs to have a clear stance for the country’s manufacturing industry. Tariff rationalization to resolve inverted duty problems as well as the expansion of the PLI scheme must occur, so the import dependence is lowered, domestic fabrication expands, and the supply and demand imbalance is balanced. Getting more manufacturers who focus on domestic value addition and labor is also a very important step. Setting up an easier application process with performance criteria targets and support for the MSME will ensure many more stake holders are involved in the manufacturing environment.
To protect the Indian glove industry, the government needs to control the import of low-grade chlorinated gloves, which increased by more than half from July to August 2024, reaching 460 million. These imports mainly come from Malaysia, Thailand, Vietnam, and China. The increase in these imports poses a safety concern as well as affects the ‘Make in India’ campaign. Strengthening the glove R&D with a strong focus on quality will be required to ensure the strength of the industry,”
Mr. Haresh Karamchandani, MD & Group CEO, HyFun Foods
“As a pioneer in the export of frozen potato products from India, we recognize the vast opportunities presented by food processing – a sunrise sector. We believe the upcoming budget can be a turning point by focusing on three key aspects:
First, generating capital investments through measures such as long tax holidays for new capex above a particular threshold and export-linked incentives that make products competitive vis-a-vis larger manufacturing economies. Larger processing units benefit from economies of scale, making products globally competitive and boosting foreign exchange earnings.
Second, this sector has the potential to be a significant employment generator. Subsidies linked to additional job creation can accelerate labor absorption and improve livelihoods for many.
Finally, increasing domestic consumption by lowering taxes for the middle and upper-middle classes will stimulate demand and drive further economic growth.
We are optimistic that the budget will acknowledge these priorities and provide the support needed for sunrise sectors like the food processing sector to thrive and become a major driver of growth for India.”
Mr. Anand Kabra, Vice Chairman and MD, Kabra Extrusiontechnik Limited
“As we approach the upcoming budget, we anticipate strategic measures to enhance India’s manufacturing competitiveness, particularly in the energy storage sector. With the Government’s renewed focus on renewable energy and recent tenders for energy storage solutions, we expect continued support through Production Linked Incentive (PLI) schemes for Battery Energy Storage Systems (BESS) manufacturers. This support should extend to technology investments, which are crucial for advancing our capabilities in this rapidly evolving sector.
Given the recalibration of EV subsidies, we anticipate a more comprehensive policy framework focusing on sustainable transportation solutions, particularly in the battery swapping infrastructure domain. This shift could potentially accelerate the adoption of shared mobility solutions, creating a more sustainable and efficient transportation ecosystem.
Furthermore, we look forward to enhanced government spending in infrastructure development, which will be crucial for maintaining growth momentum in core sectors, including the piping industry. This investment in infrastructure will not only boost immediate economic growth but also lay the foundation for long-term industrial development.”