Скачать или смотреть Union Budget 2025 - What’s in Store for MSME & Manufacturing Sector

The Union Budget for this year has masterfully balanced the provision of immediate economic relief with the foundation for long-term structural growth. By slashing taxes, empowering MSMEs, investing in cutting-edge infrastructure, and promoting innovation, the Budget will help India become a resilient economic powerhouse and a globally competitive manufacturing destination. There are certain areas which still need more attention and it’s important to see the fine prints and the execution plan.

Here are the key takeaways from the Panel Discussion on “Union Budget 2025 - What’s in Store for MSMEs & the Manufacturing Sector”, where the industry experts share their views and insights on the budget.

Mohini Kelkar, Director, Grind Master Machines & Vice President - IMTMA

Bill Shukla, CEO & Managing Director, Milacron India

Dr Vishwas Puttige, CEO & Director, amace Solutions

Rakesh Agarwal, Founder & Managing Director, Laser Technologies

Ashish Chandra Varma, CEO, Prime Graphite

Muthu Sekkar, COO & Additional Director, Hailstone Innovations

Shekhar Jitkar, Consulting Editor, ETManufacturing

By increasing the investment and turnover thresholds for MSME classification, the Finance Minister is encouraging MSMEs to improve scalability and technological upgrades, have better credit access, expand operations, while still claiming the benefits of MSME policies.

The National Manufacturing Mission, aligning small, medium, and large enterprises with the “Make in India” initiative, would be a game-changer for developing an ecosystem for solar PV cells, EV batteries, and wind turbines. A special emphasis on Clean Tech Manufacturing will strengthen clean technology manufacturing, supporting India's climate-friendly industrial transition.

The announcement of a new Rs. 10,000 crore Fund of Funds to support high-growth start-ups and entrepreneurship will expand the scope of government-backed Alternative Investment Funds (AIFs) and supplement the existing Rs. 91,000 crore fund, boosting small business funding to foster innovation and growth. There should be more push for manufacturing start-ups in this area to increase the number of start-ups.

The District-Level Incentive (DLI) scheme should be implemented across the states to encourage entrepreneurship and innovation initiatives at the local levels and create employment opportunities.

The Production-Linked Incentive (PLI) scheme should be expanded to other sectors as well, for example the machine tool industry, to reduce reliance on imports and boost domestic production.

The government should encourage MSMEs to participate in international trade shows to access and develop overseas markets and increase exports with the help of the international trade participation subsidy programs through the Market Development Assistance (MDA) and the Market Access Initiative (MAI) schemes.

The National Centers of Excellence for Skilling and Atal Tinkering Labs will help equip the youth with the skills required for manufacturing. But the government should collaborate with the industry to encourage expansion and create sufficient jobs in India.

India has seen a significant jump in its “Ease of Doing Business” ranking. It’s time now to focus more on “Ease of Doing Manufacturing”, by streamlining processes and clearances, bridging infrastructure gaps, simplifying compliance procedures, etc.

In short, with various announcements in this year’s budget, the MSMEs in India can now think bold, think big and take big steps to grow their businesses exponentially.