I welcome the Union Budget 2025-26, which lays a strong foundation for the development of individuals, industries, and exports. The budget presents a balanced approach by focusing on economic growth while ensuring inclusivity, said P. Gopalakrishnan, Regional Chairman, Southern Region, FIEO, after the presentation of the union budget.
“One of the most significant highlights is the increase in the income tax exemption limit to ₹12 lakh. This will provide much-needed relief to individuals, improving their financial stability and increasing disposable income, which, in turn, will drive consumption and economic activity, he mentioned.
Gopalakrishnan shared that the emphasis on agriculture, MSMEs, investment, and exports is commendable. The Mission for Cotton Productivity will significantly benefit the textile industry, ensuring higher yields and better-quality raw materials, making Indian textiles more competitive in global markets.
The Regional Chairman mentioned that Support for MSMEs and first-time entrepreneurs is a crucial step toward fostering innovation and self-reliance.
Initiatives such as Credit Cards for Micro Enterprises, term loan schemes (₹2-5 crore) for women, SC/ST entrepreneurs, and the Manufacturing Mission will create a vibrant business ecosystem, generating employment and accelerating industrial growth.
Additionally, the focus on footwear, leather, toy, and food processing sectors will enhance domestic manufacturing and global competitiveness.
“The enhanced Credit Guarantee Cover of ₹10 crore for MSEs and ₹20 crore for startups will encourage entrepreneurship and provide much-needed financial security to budding enterprises. The Maritime Development Fund will boost the logistics and shipping sector, strengthening India’s role in global trade.
The Export Promotion Mission, Bharat Trade Net, and improved warehousing for air cargo will further facilitate ease of doing business for exporters, making Indian products more accessible in international markets,” Gopalakrishnan added.
Further, he noted that the tariff removals on lifesaving medicines loom for technical textiles, lithium-ion battery components, and duty-free inputs for handicrafts and leather will not only reduce costs for industries but also enhance India’s position as a major global manufacturing hub.
“This budget reflects a clear vision for Viksit Bharat (Developed India), with strategic measures aimed at strengthening industry, encouraging entrepreneurship, and boosting exports. The focus on ease of doing business, infrastructure, and financial support for key sectors will drive sustainable development and ensure long-term prosperity for the country,” Gopalakrishnan concluded.
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