Union Budget 2025-26: A Bold, Inclusive, and Growth-Driven Blueprint for India’s Economy, Says EEPC India

Union Budget 2025-26: A Bold, Inclusive, and Growth-Driven Blueprint for India’s Economy, Says EEPC India

February 2 – The Engineering Export Promotion Council of India (EEPC India) has hailed the Union Budget 2025-26 as a visionary and forward-looking financial plan, emphasizing its bold, inclusive, and growth-oriented approach.

Pankaj Chadha, Chairman of EEPC India, praised the government’s continued push for infrastructure development, with a record capital expenditure of ₹11.21 lakh crore earmarked for 2025-26. “The government’s commitment to higher public spending will serve as a catalyst for increased private-sector investment, further strengthening India’s economic momentum,” Chadha stated.

For the engineering export sector, the introduction of the Export Promotion Mission and BharatTradeNet marks a transformative shift. These initiatives will streamline compliance, enhance logistics efficiency, and provide much-needed support to exporters. Additionally, MSME-friendly measures, including an expanded credit guarantee scheme and customs duty reforms on critical materials such as those used in EV production, will significantly reduce input costs and boost global competitiveness.

However, Chadha also highlighted areas that require urgent attention. The lack of updates on the Interest Equalisation Scheme continues to pose challenges for export credit affordability, while the absence of direct financial support for export promotion activities remains a concern. High logistics costs and persistent non-tariff barriers in key markets need strategic intervention to ensure sustained growth in the sector.

The Budget outlines various schemes, incentives, and trade facilitation measures designed to bolster India’s position as a global manufacturing hub. A new Manufacturing Mission under the Make in India initiative will provide comprehensive policy support to industries of all sizes, fostering an ecosystem for solar PV cells, electrolysers, and grid-scale batteries—a major step towards sustainable and advanced manufacturing.

A significant boost for MSMEs comes with the government’s decision to increase investment and turnover limits by 2.5 times and 2 times, respectively. This progressive move is expected to empower small and medium enterprises, enabling them to scale, innovate, and create more employment opportunities for the nation’s youth.

As the leading voice of India’s engineering export sector for over seven decades—representing a membership base where nearly 60% belong to MSMEs—EEPC India warmly welcomes the Union Budget 2025-26 and looks forward to collaborating with policymakers to drive India’s industrial and export growth to new heights.

(UNI)

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