As Union Budget 2025 approaches, Kamal Bali, President & MD of Volvo Group in India, emphasized the need for bold economic reforms and targeted fiscal measures to drive sustained 8%+ growth in the country.
“To meet the compelling goal of sustained 8%+ growth, India needs to open up further with bold reforms, leave more money in the hands of the middle-income group to encourage consumption, and continue increased investment in infrastructure,” Bali stated.
He also stressed the importance of spurring private sector investments through initiatives like the Production-Linked Incentive (PLI) scheme. By combining tax relief for the middle class with robust infrastructure and industrial growth policies, Bali believes India can stimulate domestic demand and position itself as a global economic powerhouse.
With the Union Budget 2025 expected to shape India’s next phase of growth, the industry is looking forward to comprehensive reforms that will boost consumption, attract private investments, and reinforce long-term economic momentum.
