Real Estate, Defence, Pharma, and Emerging Sectors Outline Priorities for Policy Reform
As India awaits the Union Budget 2025, industry leaders have expressed their recommendations to drive economic growth across pivotal sectors. With expectations ranging from reforms in real estate GST structures to investments in cybersecurity infrastructure, the proposed budget holds the potential to shape the trajectory of India’s economy.
Real Estate: A Push for Streamlined Policies
Shivam Agarwal, VP – Strategic Growth at Sattva Group, emphasized the need for a single-window clearance system to accelerate project timelines and reduce costs.
Adjusting FDI regulations and introducing a favorable input tax credit regime are critical to boosting liquidity and ensuring operational efficiency, he said.
Similarly, Kunal Rishi, COO of Paras Buildtech, highlighted the importance of granting the real estate sector industry status to improve funding accessibility and lower financing costs.
GST rationalization on construction materials would enhance cost management and drive sustainable urban development,he added.
Defence and Aerospace: Supporting Innovation
Union Budget 2025, with India’s focus on Atmanirbhar Bharat and Make in India, Amey Belorkar, Fund Manager – Defence and Aerospace, IDBI Capital Markets, called for:
Strategic budget allocations for emerging technologies like unmanned aerial systems (UAS), cyber defence, and advanced materials.
Incentives for Defence Industrial Corridors to promote indigenous manufacturing. The government’s planned introduction of a new scheme focused on R&D in deep-tech technologies such as AI and robotics will propel the sector’s growth by 15-20%, he stated.
Pharma Sector: Expanding India’s Global Footprint
Union Budget 2025, the pharmaceutical sector, projected to reach $130 billion by 2030, is poised for significant growth. Sushil Suri, CMD of Morepen Laboratories, outlined key recommendations:
Streamlining regulatory approvals for faster drug development.
Expanding the Production-Linked Incentive (PLI) scheme to cover medical technology. A unified regulatory framework will attract investments, fostering innovation and ensuring self-reliance, he said.
Startups: The Lifeline of India’s Economy
Anirudh A Damani, Managing Partner of Artha Venture Fund, highlighted the following:
Introducing a single-window clearance system for fund registrations to simplify compliance.
Expanding SIDBI’s Fund of Funds with an additional allocation of ₹10,000 crores. Revising the startup classification criteria to include companies up to 20 years old and those in high-revenue industries.
Cybersecurity: Securing India’s Digital Future
Union Budget 2025, India ranks among the top four global victims of cyberattacks. Pankit Desai, CEO of Sequretek, urged the government to prioritize:
Investments in cybersecurity education to equip students with hands-on skills.
Revising procurement policies to create opportunities for Indian-origin cybersecurity firms. With strategic investments, India can reinforce its cybersecurity defenses and become a global leader in digital security, he emphasized.
Renewable Energy and Biofuels
India’s commitment to ethanol blending targets requires substantial investments. Tarun Sawhney, Vice Chairman of Triveni Engineering, outlined key measures:
Targeted subsidies worth ₹35,000 crore to enhance ethanol production capacity.
Linking ethanol pricing to the Fair and Remunerative Price (FRP) of sugarcane to ensure stability for stakeholders. Expanding production to meet E20 targets will align India with its net-zero carbon emissions goal by 2070, he said.
Healthcare: Accelerating Digital Transformation
Digital health innovation is a cornerstone of India’s healthcare reform. Deepak Tuli, COO of Eka Care, recommended increased allocations for the Ayushman Bharat Digital Mission to ensure:
Seamless implementation of electronic health records.
Improved access to healthcare in rural areas.
Digitizing healthcare will revolutionize patient care and strengthen the country’s medical infrastructure,”he said.
Retail: Empowering Consumer Spending
Abhinav Kumar, Co-Founder of Brand Concepts, emphasized:
Reducing GST to increase disposable income and boost retail consumption.
Enhancing accessibility and infrastructure in Tier-3 cities to expand markets. A supportive policy framework will enable the retail sector to meet evolving consumer demands and drive growth, he noted.
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