
The Union Budget 2025 has received a positive response from industry leaders, highlighting its balanced focus on infrastructure, investment, and ease of doing business. Sanjay Nayar, President of ASSOCHAM and Founder & Chairman of Sorin Investment, emphasized how the budget’s reforms will propel India’s manufacturing sector, support startups and MSMEs, and foster a globally competitive business environment.
“This budget lays a strong foundation for India’s growth trajectory by focusing on infrastructure, investment, skilling, and ease of doing business,” Nayar stated. The budget’s emphasis on sectoral incentives and tax simplification is expected to provide a significant boost to manufacturing and exports, enhancing India’s global competitiveness.
Nayar praised the budget’s trust-based regulatory approach and enhanced credit access, noting that these reforms will create a more business-friendly environment. “With a trust-based regulatory approach and enhanced credit access, industries are well-positioned to thrive in a globally competitive environment,” he said. The focus on reducing regulatory burdens and simplifying taxation is anticipated to attract private capital and accelerate growth across sectors.
The budget also prioritizes MSMEs and startups, with extended support aimed at strengthening India’s entrepreneurial spirit. “The extended support to MSMEs and startups will go a long way in strengthening India’s entrepreneurship spirit and enhance job creation for the future economy,” Nayar remarked. This includes reforms in credit access, simplified regulatory frameworks, and sector-specific incentives that will foster innovation and growth in the startup ecosystem.
Nayar highlighted the alignment of the budget with the vision of Startup Mahakumbh, emphasizing the role of entrepreneurship in shaping India’s long-term economic resilience. “In line with Startup Mahakumbh’s vision of playing a vital role in shaping India’s entrepreneurial landscape and long-term economic resilience, we believe this will surely give a fillip to India’s startup ecosystem,” he said.
He concluded by stating that the simplified taxation and regulatory frameworks introduced in the budget will not only attract private capital but also accelerate economic growth. The Union Budget 2025’s comprehensive focus on infrastructure development, tax reforms, and entrepreneurial support sets the stage for India’s sustained growth and global leadership in innovation and industry.