Industry bellwethers in Indian manufacturing, foreseeing the forthcoming Budget 2025-2026, have started averring vociferously for policy reformations and fiscal boost to bolster local manufacturing, enrich technological innovation, and beef up consumer spending. On its part, the government set for itself the very ambitious target of increasing manufacturing's share from the present 17% of the country's GDP to, at the least, a quite respectable 25% in the forthcoming budget.
Industry players have emphasized the need for financial incentives, such as expanded Production-Linked Incentive (PLI) schemes, particularly in renewable energy, sustainable manufacturing, and technological innovation. Companies are also calling for targeted tax reforms, including reduced GST rates on consumer durables and tax exemptions on drone services, to lower operational costs and stimulate consumer demand.
The manufacturing sector is putting pressure on promoting global investment in sustainable practices, urging the government to provide incentives for the use of recycled materials and promote a circular economy. Various industry enhance the focus on green technologies wouldnmaps are leaders recommending that investment be increased and focused on research and development in areas such as Geographic Information Systems (GIS) and Artificial Intelligence (AI) to resolve real-life issues. Support for small and medium-sized enterprises (MSMEs), startups, and the "Made in India" initiative emerges as a key concern in the budget estimations of the manufacturing sector.
Conclusion:
The pre-Budget memorandum, 2025-26 for manufacturing sector voices, in a way sees a large consensus for a need to bring parity between the two approaches, that is, encouraging innovation, leveraging sustainable practices while promoting the manufacture of goods within the country. Policies that would let the burden on business and consumers ease by relaxing GST rates and making tax reforms are critical to induce growth. Furthermore, a request for financial support in green technologies, sustainable manufacturing, and burgeoning sectors like drones also synchronizes with the wider objective of the 'Make in India' initiative of becoming a global manufacturing hub. Industry captains hope to add to the contribution of the GDP by giving the sector a bigger capacity to do much more; these measures, according to visionaries in the industry, will give the much-wanted boost to growth and create jobs, thereby making the manufacturing ecosystem in India competitive with any in the world.
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