Representative image indicating renewable energy
Credit: iStock Photo
Nirmala Sitharaman, who continues to be Finance Minister, will present her 8th Union Budget on February 1. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year.
With the Union budget around the corner, Dr Bijal Sanghvi – Managing Director – Axis Solutions Pvt. Ltd expressed expectations that the manufacturing sector would most likely see substantial resources allocated towards renewable energy adoption, waste reduction, and green technology integration.
"The future of engineering and manufacturing in India holds immense promise as the government continues to prioritize clean energy, sustainable practices, and technology-driven advancements. The Budget 2025 is expected to amplify this trajectory by allocating substantial resources toward renewable energy adoption, waste reduction, and green technology integration. Industries in India are poised to make significant strides toward achieving net-zero emissions through eco-friendly collaborations, such as establishing energy-efficient factories and adopting sustainable materials. The government’s focus on initiatives like the National Green Hydrogen Mission, solar energy expansion underscores a commitment to creating a cleaner, greener industrial ecosystem. These measures are anticipated to attract investments, generate green jobs, and position India as a global leader in sustainable manufacturing," he said.
Sanghvi added, "Simultaneously, the Budget 2025 is expected to foster the digital transformation of India’s manufacturing sector, unlocking the full potential of Industry 4.0 through strategic investments in AI, IoT & IIoT, robotics, and automation. Public-private partnerships will play a pivotal role in driving innovation and integrating cutting-edge technologies into traditional manufacturing processes. Initiatives such as "Digital India," 'Make in India,' and 'Skill India' are likely to receive renewed focus, enhancing competitiveness and creating a skilled workforce prepared for the future of work. Furthermore, investments in infrastructure upgrades, advanced logistics, and global trade corridors will ensure inclusive growth, extending opportunities to all stakeholders. Together, these initiatives promise to blend sustainability, innovation, and equitable development, paving the way for a resilient and progressive industrial future for India."