Budget will bolster manufacturing sector: Industrialist Arjun Ranga

The Union Budget 2025-26 would bolster India’s manufacturing sector and foster self-reliance, Industrialist Arjun Ranga, Managing Director, Cycle Pure Agarbathi, and CEO of N. Ranga Rao and Sons Pvt. Ltd. said here on Saturday.

He said the national manufacturing mission, aimed at strengthening the ‘Make in India’ initiative, was a commendable effort to encourage domestic production.

“By offering policy support and executing roadmaps for small, medium, and large industries, the government is paving the way for a more robust manufacturing ecosystem,” said Mr. Arjun Ranga.

He said the mission’s focus on clean technology manufacturing is a significant move towards climate-friendly development.

By boosting domestic value addition and building a robust ecosystem for solar PV cells, electric vehicle (EV) batteries, motors and controllers, wind turbines, high-voltage transmission equipment, and grid-scale batteries, the government is driving investment and innovation in these crucial sectors, he said.

Referring to the 89% increase in the Production-Linked Incentive scheme from Rs. 8,520 crore for financial year 2024-25 to Rs. 16,092 crore for 2025-26, Mr. Arjun Ranga said it was a major boost for the manufacturing sector.

“Extending the PLI scheme to include toys and footwear will attract investments, improve efficiency, and make Indian companies globally competitive,” he added.

Mr. Arjun Ranga said the revision in the classification criteria for MSMEs, with enhanced investment and turnover limits, makes the definition more inclusive. This will empower small businesses to thrive and scale their operations, contributing to the overall growth of the manufacturing sector.

Overall, these measures are expected to drive sustainable growth, foster entrepreneurship, and establish India as a global manufacturing leader, he added.

Published - February 01, 2025 07:43 pm IST