In the countdown to Finance Minister Nirmala Sitharaman’s budget presentation, businesses across various sectors are eagerly awaiting the financial composition that will shape their economic performance in the upcoming fiscal year.
Here’s a breakdown of key industry perspectives from a business standpoint, including MDF, Restaurants, Defense, Logistics, and Sports, Gaming & E-Sports.
Sunil Singh, CSO, MDF and Flooring, Greenpanel Industries Ltd
Anticipating the upcoming budget, the MDF industry looks forward to a strategic allocation of funds for infrastructure, sustainability, and innovation. Acknowledging the import-cost disparity of around 25% is crucial, and bridging this gap is a pre-budget expectation to alleviate the burden on Indian MDF manufacturers.
Addressing logistics, promoting exports, and ensuring fair customs duties, alongside measures to mitigate the impact of the 25% cost disparity in imports, will create a holistic environment. This approach will nurture a resilient MDF sector, fostering sustainable development and global competitiveness.
Sandeep Shah, Co-Founder & MD, Optimized Electrotech
The Ministry of Defence’s record-breaking capital procurement from Indian companies in the ongoing fiscal year marks a significant milestone, providing a substantial boost to the defense ecosystem.
Sustaining this momentum is crucial as it propels us closer to achieving the broader goal of Aatmanirbharta (self-reliance) in defense. Numerous Micro, Small, and Medium Enterprises (MSMEs) and startups have embarked on innovative projects under initiatives like IDeX and Make-2, showcasing their unwavering belief in the government’s encouragement and support.
Acknowledging and appreciating these endeavors through timely procurement not only fuels the aspirations of these dynamic entities but also fosters an environment of trust and collaboration, essential for the continued growth and success of the indigenous defense industry.
Sudeep Kulkarni, Founder, Game Theory
This being a pre-election budget and as mentioned by the Finance minister herself, Startups in India can’t expect anything drastic and is largely to be a status-quo situation. However, it is noteworthy that the previous budget managed to attract an INR 100 Cr allocation for the National Sports University which I feel is a step forward in creating newer sports infrastructure.
Of course, the development of the sector will need more capital, but it is an important step forward and can help lead to the creation of more jobs and facilities that can be the stepping stone for putting India as an important contributor in the World of Sports.
We must create facilities to train and provide job opportunities to people. Coaches, Physios and other support staff are extremely important for the growth of a player, and enough capital must be allocated in the future to build this ecosystem.’
Sujit Shetty, Founder, Millo
No input credit is the biggest loss that the restaurant industry is facing. Not being able to get any credit on rent and raw materials is a major loss on the bottom line. Ease of business is needed on the license front. Overall reforms are needed to give a boost to the restaurant industry