The Union Budget 2025 has elicited substantial discourse among industry stalwarts, given its profound emphasis on digital infrastructure augmentation, workforce skill development, and technological proliferation. This budget delineates a roadmap for India’s sustained economic ascendancy and heightened global competitiveness. Distinguished corporate figures have articulated their perspectives on how the fiscal policies align with India’s strategic trajectory toward innovation, industrial expansion, and regulatory simplification.
Union Budget 2025 – Reaction from Industry Leaders
Happiest Minds Technologies
Venkatraman Narayanan, MD & CFO of Happiest Minds Technologies, praised the budget’s vision for strengthening India’s position as a global technology leader. He highlighted the government’s investment in AI, deep tech, and innovation, including the allocation of resources for research, 10,000 new fellowships, and the establishment of Centres of Excellence in AI.
Additionally, he noted the positive impact of skilling initiatives like the enhancement of Industrial Training Institutes and the creation of 50,000 Atal Tinkering Labs. These efforts, combined with tax reductions and simplified compliance processes, will bolster economic growth, empower the workforce, and fuel industry-driven innovation.
Magellanic Cloud
Joseph Sudheer Thumma, Global CEO & MD of Magellanic Cloud, commended the budget’s focus on positioning India as a global deep-tech hub. The announcement of Centres of Excellence for AI and a special fund for deep-tech startups aligns with India’s vision to become a leader in cutting-edge technologies.
He also pointed out that the government’s commitment to skilling and employment generation will bridge the talent gap in Industry 4.0 sectors. Furthermore, incentives for domestic manufacturing and the adoption of IoT and smart technologies will enhance India’s industrial ecosystem.
Fulcrum Digital
Sachin Panicker, Chief AI Officer of Fulcrum Digital, highlighted the budget’s emphasis on modernizing India’s business ecosystem through agile policies and innovation-driven investments.
Key initiatives like the Atal Innovation Mission and PM Research Fellowship will facilitate meaningful industry-academia collaboration, fostering next-generation technologies. He also welcomed the INR 500 crore allocation for a Center of Excellence in AI for education, which will equip young minds with crucial AI and digital skills, preparing them for future tech advancements.
WOL3D
Rahul Chandalia, Co-Founder of WOL3D, lauded the budget’s strong push toward strengthening the MSME sector. The government’s commitment to initiatives such as the National Manufacturing Mission and the Atal Innovation Mission will help India enhance its manufacturing capabilities, including in emerging areas like 3D printing.
With over 50,000 Atal Tinkering Labs planned in schools, he sees immense potential in introducing young students to innovative technologies and fostering a culture of early-stage innovation. Additionally, financial support for micro-entrepreneurs, particularly first-time women entrepreneurs from SC/ST communities, will create new opportunities within the 3D printing value chain.
Sahana System
Pratik Kakadia, Founder & MD of Sahana System, welcomed the government’s initiatives to boost MSMEs and startups. The increase in investment and turnover limits—2.5x and 2x, respectively—will empower businesses to scale and create more jobs.
Additionally, the expansion of credit guarantee coverage, raising limits from INR 5 crore to INR 10 crore for MSMEs and from INR 10 crore to INR 20 crore for startups, will unlock INR 1.5 trillion in new credit over the next five years.
The government’s push for a Deeptech Fund of Funds and 10,000 fellowships for tech research at IITs and IISc will accelerate innovation and strengthen India’s position as a technology-driven economy. The INR 500 crore Center of Excellence in AI for education further reinforces the government’s focus on AI adoption and skill development.
Conclusion
The responses to Union Budget 2025 from industry leaders underscore a shared optimism about India’s economic and technological future. With significant investments in AI, digital infrastructure, deep-tech, and skilling, the budget lays the foundation for long-term growth. The initiatives to ease compliance, boost MSMEs, and enhance access to capital will further reinforce India’s position as a global innovation hub.
As businesses and startups align with these forward-thinking policies, India is well on its way to a digitally empowered, innovation-driven economy.
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