As India gears up for the Union Budget 2025, leading voices from the technology sector share their expectations and recommendations for policy initiatives. Industry leaders from diverse segments including AI, healthcare, wearables, and digital solutions emphasize the need for strategic investments in emerging technologies, digital infrastructure, and workforce development. With India’s AI market poised for significant growth, these tech executives outline key areas where budgetary support could accelerate innovation and maintain India’s competitive edge in the global technology landscape.
Amit Khatri, Co-Founder, Noise
“India’s electronics industry has become a pivotal driver of economic growth with domestic production projected to reach $300 billion by 2026. This expansion underscores the sector’s role in shaping India’s global standing, fueled by initiatives like Make in India, Digital India, and Skill India, which position technology as a cornerstone of the country’s economic development. To sustain this trajectory, bolstering manufacturing efforts through programs like the PLI scheme, reducing import dependencies and duties, building infrastructure to boost components production, and fostering global partnerships will further enhance India’s competitiveness in the global value chain. For instance, our collaboration with Amber has helped us underscore the impact of local manufacturing capabilities. In addition to this, strategic investments in R&D are essential to spur innovation, enabling the development of advanced solutions that cater to evolving consumer needs. Rajeev Singh, Managing Director, BenQ India and South Asia – Prioritizing AI, Digital Infrastructure, and Manufacturing
“As we approach the Union Budget 2025, targeted investments in emerging technologies such as artificial intelligence (AI) should remain a key area of focus. With India’s AI market projected to reach $17 billion by 2025, there is a strong call for enhanced government support in AI research and innovation. This includes the need for research grants, tax incentives, and public-private partnership frameworks to make long-term AI research commercially viable.
We also strongly anticipate enhancements in digital infrastructure, particularly in rural areas, to improve financial inclusion and integrate underserved communities into the economy. The budget should also consider the necessity of high-performance computing resources, data centers, and specialized AI hardware to support innovation. Government support through shared infrastructure models could democratize access to these essential resources and facilitate the growth of AI capabilities across the nation.
In addition, the establishment of India’s first private semiconductor facility in Andhra Pradesh is expected to receive support in the upcoming budget. This initiative will bolster local manufacturing capabilities and reduce dependency on foreign imports, which is vital for the tech sector’s growth. With the manufacturing sector being a critical driver of economic growth, we also hope for expanded Production Linked Incentive (PLI) schemes that could create millions of jobs while enhancing India’s manufacturing exports.”
Mr. Saket Gaurav, Chairman & MD, Elista
Mr. Saket Gaurav, Chairman & MD, Elista says “The upcoming budget presents a significant opportunity for the government to support the Indian consumer durables industry. Expanding the PLI scheme and reducing import duties on critical components will significantly strengthen domestic production capabilities.
Rationalizing GST rates, especially on larger screen televisions currently taxed at 28%, would enhance affordability and encourage the adoption of advanced technology, aligning with the ‘Digital India’ vision.
Better financing options for consumers, coupled with infrastructure development, can further accelerate market growth. Policies aimed at export subsidies and favorable trade agreements will enable Indian brands to expand their global footprint and compete effectively in international markets. We believe these reforms can play a pivotal role in shaping a robust and self-reliant consumer durables ecosystem in India“.
Mr. Imran Kagalwala, Co Founder at UNIX India
“As we approach the Union Budget 2025, local MSME in the electronics manufacturing sector are hopeful for policies that create a level playing field, enabling them to compete with the foreign brands. The Budget should focus on labour-skilling initiatives to address the talent gap in the manufacturing and technology sectors. It should also prioritize boosting R&D and innovation through targeted incentives, especially for businesses not benefiting from PLI schemes. Policies promoting production incentives will foster growth and enhance the global competitiveness of Indian businesses.”Ms. Pallavi Singh, Country Representative, JVC TV India
“I urge the Finance Minister to reduce the GST on televisions from 28% to 18%. Televisions should not be treated as luxury items, and the current tax rate is excessive. Raw materials are taxed at 18%, while finished products like televisions are taxed at 28%, creating an imbalance and burdening importers. Aligning tax rates would simplify the structure and reduce costs for manufacturers and consumers.
With the weakening rupee, rising import bills, and inflation, simplifying the tax system would ease financial pressures. In this economic climate, balancing spending power and savings is crucial for growth. Additionally, streamlining approval processes for businesses is essential. Despite initiatives like the one-window clearance system, approval procedures remain cumbersome. Simplifying these processes would promote economic growth and benefit citizens. The Finance Minister’s leadership can drive progress and shared prosperity.“
Mr. Avneet Singh Marwah, CEO, SPPL, a Kodak and Blaupunkt brand Licensee
“As a key player in India’s TV manufacturing sector, we are eagerly awaiting the Union Budget 2025 and its potential to boost domestic manufacturing. We believe expanding the Production Linked Incentive (PLI) scheme for consumer electronics will enhance the competitiveness of Indian manufacturers globally, driving production capacity, innovation, and job creation.
We also hope the government will rationalize import duties on key components like display panels and semiconductors, reducing input costs and fostering more affordable, high-quality products.Indian TV market is degrowing by 13 percent year on year. Any increase in custom duty will hamper more
We expect the Budget to focus on improving the ease of doing business, access to credit, and promoting green manufacturing practices, all of which would support India’s goal of becoming a global electronics hub.
With the right policy measures, including PLI expansion and custom duty adjustments, we are confident India’s TV manufacturing sector will thrive and contribute significantly to the global electronics market.”
Mr. Ashok Rajpal -Managing Director – Ambrane India
“As we approach Union Budget 2025, we are optimistic about continued government focus on electronics and semiconductor sectors. Previous budgets have shown strong commitment to semiconductor development through increased funding for the Ministry of Electronics and Information Technology (MeitY), highlighting India’s push for self-reliance and global competitiveness. The mobile accessory manufacturing sector, heavily reliant on semiconductors, stands to benefit greatly from enhanced domestic production. By reducing dependency on imports, a robust semiconductor ecosystem can streamline supply chains, lower costs, and foster innovation in products like power banks, chargers, and cables.
Ravi Kunwar, VP and CEO, HMD India and APAC: Strengthening Mobile Manufacturing: Call for Enhanced PLI Schemes and Local Value Addition
“As we approach the Union Budget 2025, we see immense potential for policies that could strengthen India’s position in the global mobile manufacturing landscape. The Production Linked Incentive (PLI) scheme has been a game-changer for domestic manufacturing and, we believe providing a boost to the PLI scheme with a focus on increasing local value addition to more than 18% is indispensable. Simultaneously, initiatives like these could support the localization of critical smartphone and feature phone components, as this aligns with both our business strategy and India’s vision of technological self-reliance is something we as a brand are anticipating.
The upcoming budget has the potential to strengthen domestic component manufacturing, particularly in the mobile segment. We look forward to policies that will boost indigenous production and create a more robust supply chain.
Our commitment to ‘Make in India’ remains firm, and we look forward to policy frameworks that could help us to deepen our manufacturing footprint in the country. We are optimistic that the budget will introduce measures to support technological innovation and sustainable growth in the mobile manufacturing sector.”
CP Khandelwal, CEO PR Innovations and Brand Custodian, Amazfit India Calls for R&D Incentives and Digital Growth
“As we approach the 2025 Union Budget, we hope for policies that further accelerate the growth of the technology and wearable industry. This sector thrives on innovation, and initiatives such as incentivizing R&D, reducing import duties on key components, and offering tax benefits for companies investing in advanced technologies could drive significant progress. Additionally, measures to promote digital adoption and skill development in tech will ensure India remains a leader in the global wearable market. We look forward to a budget that fosters innovation and positions the technology sector as a cornerstone of India’s economic growth.”
Mr. Kishan Jain, Director at Goldmedal Electricals
“As we approach the Union Budget 2025-26, there is increased interest in policies that would promote infrastructural growth, support technical advancements, and promote energy-saving solutions. This Budget has the potential to consolidate India’s status as a global manufacturing hub by implementing policies to encourage innovation and sustainability across industries. With infrastructure development serving as the foundation for economic growth, it is critical to prioritize investments in smart technologies like automation, and IoT. Policies that promote local production and streamline regulations can increase efficiency, reduce reliance on imports, and provide job opportunities. The Budget also provides an important chance to address sustainability issues by encouraging the use of environmentally friendly technologies and energy-efficient practices. These initiatives, which encourage innovation and correspond with global best practices, can ensure long-term growth while also constructing a robust and future-ready economy.” – Mr. Kishan Jain, Director at Goldmedal Electricals.
Mr. Chitranshu Mahant, CEO of Primebook
“As India strides to become the global powerhouse of education and technology, we look forward to the government formulating a budget in 2025 that can strengthen the synergy between edtech and domestic manufacturing. Increased budget for setting up digital infrastructure in schools and colleges, particularly rural and semi-urban areas, coupled with government-backed initiatives to provide affordable and reliable internet access in those areas and the introduction of more subsidized data plans, can truly accelerate the nation’s digital transformation from the grass-root level.
Moreover, expanding the scope of PLI schemes to encompass consumer electronics tailored for education can boost the “Make in India” initiative and generate more employment opportunities for the youth. The increasing demand for affordable laptops highly calls for reduced import duties, incentives for local production, and rationalization of taxes. We urge the government to acknowledge and adopt such measures.
Through the establishment of innovation funds for startups developing affordable education technology and hardware, especially those that function independently of broadband infrastructure and promote on-the learning, and further reducing the GST rates for educational devices and software, the government can empower millions of students, educators, and parents to efficiently embrace tech-driven learning.
I believe this budget for 2025 has the potential to redefine accessibility in online education if affordable connectivity, technology integration, and domestic manufacturing are significantly focused on. Likewise, continuous support for MSMEs via easy access to credits and reduced compliance burden can help India bolster the pathway to becoming the leading hub of future-gen technologies and skills. ”
Mr. Arjun Bajaj, Director – Videotex on
“The television manufacturing industry has long advocated for the implementation of the PLI scheme and the development of a local ecosystem for critical components such as displays and semiconductors. Additionally, the current 28% GST on 40 inch and larger TVs, which are classified as luxury goods, should be re-evaluated, as these products have become essential. Removing this tax could stimulate sales and benefit the industry. Support for export promotion would unlock new business opportunities. Moreover, the focus should shift from solely expanding manufacturing capabilities to fostering R&D, product innovation, and enhancing operational and production efficiencies. It is also crucial that the government refrains from increasing the import duty on open cell components to help maintain the cost of the final product.”
Vivek Tyagi, Managing Director, Analog Devices India
“As we stand at the cusp of transformative growth in India’s semiconductor sector, this year’s Union Budget holds the potential to be a defining moment in realizing our aspirations. The ongoing PLI schemes have laid the foundation for a robust manufacturing ecosystem, however, as India reaches a pivotal stage in its journey toward becoming a global manufacturing hub, we need to further enhance these initiatives towards an end-to-end supply chain ecosystem. The focus must now shift to strengthening these policies and placing greater emphasis on promoting ‘Design led manufacturing’ schemes to enhance the operations within our borders. Building India’s design capabilities will be crucial for nurturing the skills needed to drive innovation, create intellectual property, and establish a vibrant semiconductor ecosystem.
At Analog Devices, we share a similar vision of ‘Design in India, for India.’ This approach is about more than just technology, it is about creating a sustainable, robust ecosystem that empowers India to lead and own the semiconductor space. I firmly believe this year’s budget will enable India to transition from being merely a consumer of semiconductors and an assembler of products to becoming a global leader in the design and manufacturing of high-end components. This shift will not only advance our technological capabilities but will also unlock immense economic potential, positioning India firmly on the global semiconductor map and propelling us towards the vision of a ‘Viksit Bharat.”
Mr. Rajesh Jain, CFO at RR Kabel
“As we approach the Union Budget 2025-26, there is great anticipation for policies that can shape a forward-looking roadmap for India’s economic growth. This Budget has the potential to catalyze infrastructure development, support the transition to sustainable energy solutions, and enhance the competitiveness of domestic manufacturing under initiatives like ‘Make in India.’ The electrical and electronics sector plays a critical role in driving safety, efficiency, and sustainability across residential, commercial, and industrial applications. Measures that simplify tariff structures, expand the scope of Production Linked Incentive (PLI) schemes, and encourage investment in energy-efficient infrastructure will be instrumental in strengthening India’s position as a global manufacturing hub. We are optimistic that the Budget will prioritize these areas, creating a robust foundation for innovation, economic growth, and environmental sustainability. Such initiatives will pave the way for a more resilient and self-reliant India, benefiting industries and consumers alike.” – Mr. Rajesh Jain, CFO at RR Kabel
Srividya Kannan, Founder and CEO, Avaali Solutions: Fostering AI Innovation and Digital Talent: Building India’s Tech Leadership
“The 2025 Union Budget should focus on creating a robust ecosystem that incentivizes the adoption and development of AI across industries while empowering the tech workforce through structured learning initiatives. It is vital for the government to support R&D and innovation in AI so that India solidifies its position as a global leader in technology innovation. I’m keen to see the government allocate subsidies, incentives, or grants specifically for developing AI-driven solutions. Policies supporting R&D in AI applications, particularly for enhancing automation, improving efficiencies, and enabling data-driven decision-making, will give Indian businesses a competitive edge in global markets. An emphasis on building cybersecurity infrastructure and policies that encourage the adoption of digital and AI workflows will play a pivotal role as well. Grants or tax breaks to promote AI-enhanced automation platforms will help organizations streamline their processes while staying globally competitive.
Moreover, for India to retain its status as the digital talent powerhouse of the world, upskilling and reskilling the workforce should be a priority. The budget should allocate increased funding toward government-sponsored training programs in AI, machine learning, and cybersecurity. Partnerships between academia and industry to create advanced certification programs could further prepare the workforce for the demands of enterprises undergoing digital transformation. Special focus on women’s participation in tech through scholarships or incentives would also ensure a more inclusive ecosystem.”
Mr. Abhijeet Sinha, Project Director, NHEV (National Highways for Electric Vehicles)
“As India navigates the evolving landscape of mobility, Budget 2025 is expected to address potential challenges in the electric mobility sector this year:
Ease of Taxation: The industry envisions a budget that simplifies tax structures across vehicles and components, reduces the GST on EV batteries, and streamlines refund processes for EV manufacturers. Addressing delays in PLI disbursements and easing value addition norms could significantly boost the participation of domestic players in component manufacturing, reducing reliance on imports. The industry hopes for a uniform 5 percent GST across all EV components and charging infrastructure to lower costs and foster growth.
Infrastructure Cornerstone: Support for sustainable energy storage and fast charging solutions will not only benefit EVs but also facilitate renewable energy integration. Advanced Battery Storage Systems (BSS) will enhance the energy independence of mobility. Prioritizing Charge Point Operators (CPOs) under priority sector lending will accelerate the deployment of charging networks. Additionally, classifying charging infrastructure as an essential constituent of the ‘infrastructure industry’ can unlock affordable and accessible financing for such emerging real estate developments within cities and highways.
Electric Highways: After getting nod from parliament in 2024, the highly awaited e-highway upgrade is all set to make its debut this year in India with the National Highways for Electric Vehicles (NHEV) pilot project. Intending to upgrade 5500 km Bharatmala & Sagarmala routes in PPP mode after 3 successful technical trials (Delhi-Agra, Delhi-Jaipur and Chennai-Trichy) on intercity electric cars, busses and trucks to boost interstate freight and electric mobility in India. Budget 2025 is expected to earmark substantial infrastructure funds to meet such demand outlays to accelerate Indian ambitions to upgrade its 6000 km freight corridor and expressway in e-highways like Germany aims at 4000 km.
Battery Manufacturing and Swapping: Long-term support for the development and adoption of high-quality, long-lasting battery technologies is crucial to ensure self-reliance and reduce dependency on imports. Recently, with the issuance of new Power Ministry guidelines in January 2025 for the installation and operation of battery swapping and charging stations, the government aims to foster the ‘Battery as a Service’ (BaaS) business model and nationwide Battery-to-Grid (B2G) deployments. But Climate Financing in budget is pivotal for the deployment of capital-intensive swappable battery infra to store energy and return it to the grid for energy management and grid stability.”
Nikhil Sethi, Founder & MD, Zuvomo
“The Budget 2025 is a critical moment for India to reclaim its leadership in the global tech ecosystem. India ranks #1 in the number of crypto holders and #3 in tech unicorns globally. Yet, we seem to have missed the Web3 tsunami, which doubled its market cap in 2024 and saw DeFi TVL surge by 2000% year-on-year. Ambiguity in crypto compliance and a regressive tax regime have hindered innovation, pushing startups and talent overseas.The RBI’s stance reflects a lack of understanding of decentralization’s intrinsic nature—it cannot be banned, only regulated. Meanwhile, nations like the U.S., Singapore, Russia, South Korea, and the UAE are embracing progressive policies to foster crypto innovation. The approval of Bitcoin and Ethereum ETFs in the U.S. in 2024 underlines the importance of forward-looking regulations.
In a country with thousands of tech startups, a thriving ecosystem, and globally leading talent, the crypto industry expects balanced taxation, clear compliance frameworks, and innovation-friendly policies. These are crucial to ensuring India remains in the forefront. The finance ministry and the RBI must mitigate risks without stifling growth. A progressive approach will unlock massive economic potential, create jobs, and solidify India’s position as a global leader in Web3 innovation.”
Sai Pattabiram, Founder & MD, Zuppa Geo Navigation Technologies Pvt Ltd.
“The demand for secure non Chinese drones is growing the world over and more so in India . India has the opportunity to leverage its own domestic consumption and global reputation as a trustworthy technology partner built by the IT sector to evolve into a global drone hub .This can only be achieved by India moving deeper into the component level supply chain from the current assembly of imported components level that it is in today .
Drone cybersecurity is turning out to be an absolute must-have for India in particular and global users in general especially after the often quoted electronic warfare threats in Ukraine and the Hezbollah pager attack in Lebanon .
The Government should recognise this huge National as well as global opportunity and support companies involved in Component manufacturing , Cyber , Data Security and analysis for drones A Design linked Incentive ( DLI ) coupled with a PLI that supports use of only Domestically produced components by OEMs will boost the sector in a big way.
Leela Kaza, Founder and Co-CEO Bounteous x Accolite
“As India approaches the presentation of 2025 Union Budget, we stand at a crucial juncture to shape a Viksit Bharat by integrating technological advancements with foundational development. We hope to see a budget emphasizing digitalization and investing in transformative technologies such as artificial intelligence, quantum computing, biotechnology, and semiconductor manufacturing. Equally critical are investments in skill development, AI-focused R&D, and incentives to modernize industries/sectors like healthcare, manufacturing, retail, and agriculture— which should be the key to unlocking India’s $1 trillion digital economy vision.
This budget provides a unique opportunity to expand innovation hubs in tier-2 and tier-3 cities, foster public-private partnerships, and enhance access to advanced infrastructure. The nation can drive inclusive growth by empowering businesses across conventional and emerging sectors to innovate and scale.
We are optimistic that the budget will balance fostering cutting-edge technologies with addressing core developmental needs, solidifying India’s position as a global leader in technology and innovation.”
Rohith Reji, Co- founder and CEO at Neokred
“The upcoming Union Budget presents a critical juncture for India’s fast rising fintech and digital payments ecosystem. We anticipate measures that further incentivize digital transactions, potentially through tax breaks or subsidies for digital payment platforms and users. Additionally, a focus on enhancing financial inclusion through digital means, including expanding access to credit and insurance products through digital channels, would be a welcome step. We also expect the government to address the evolving regulatory landscape for fintech especially the DPDP Act, fostering innovation while ensuring consumer protection and financial stability.”
