This budget brings a much-needed boost for MSMEs, making it easier for small businesses to access credit and scale up. Expanding the credit guarantee cover for MSMEs, increasing investment and turnover limits, while introducing customised credit cards for micro-enterprises will provide vital financial support. Coupled with other positive developments like the National Manufacturing Mission, these developments will accelerate growth, foster innovation, and generate employment. At the same time, the push for skill development through the National Centres of Excellence and global collaborations will empower our youth with the capabilities to compete and succeed on the world stage.
This year’s budget takes meaningful steps toward strengthening India’s manufacturing and export ecosystem, with a clear focus on productivity, innovation, and global reach. The focus on boosting cotton productivity, setting up a digital public infrastructure for international trade, and launching an Export Promotion Mission with sector-specific targets is a transformative step for India’s manufacturing and export ecosystem. The deep tech fund and extended incorporation benefits for startups will further fuel innovation across diverse sectors. We are particularly optimistic about the National Manufacturing Mission and the voluntary scheme for exporters and importers, which will strengthen India’s position in global supply chains and boost domestic manufacturing. Collectively, these initiatives will drive economic growth and create a robust ecosystem for MSMEs and startups to thrive.”
The opinion is presented by Ritesh Khandelwal and Ankit Jaipuria, Co founders, ZYOD.