India’s growth story is an inspiring testament to its ability to balance rapid industrialization with a commitment to sustainability and innovation. As we look towards the Union Budget, we anticipate measures that will further empower India’s manufacturing sector, which already contributes nearly 18% to GDP. Recent advancements, spurred by transformative initiatives such as “Make in India” and the Production-Linked Incentive (PLI) schemes, have laid a strong foundation for competitiveness and resilience in the sector.

We anticipate policies that incentivise the adoption of eco-friendly technologies and practices, such as energy-efficient machinery, advanced pollution control systems, and water recycling solutions. Tax benefits and subsidies in these areas would encourage manufacturers to transition toward greener practices and reduce operational costs and environmental footprints. These measures are essential to building a manufacturing ecosystem aligned with India’s ambitious climate goals and global sustainability benchmarks.

Furthermore, expanding subsidies for renewable energy installations—including solar panels, wind turbines, and biomass energy solutions—can significantly reduce dependency on fossil fuels. India’s target of achieving 500 GW of non-fossil fuel capacity by 2030 will require a robust policy framework that supports businesses in adopting renewable energy solutions.

Streamlined processes for securing subsidies and incentives for green energy projects can accelerate this transition, ensuring that businesses across sectors contribute to a low-carbon economy. Incorporating circular economy practices into mainstream manufacturing through supportive legislation and financial incentives can further bolster India’s leadership in sustainable innovation. Programs encouraging recycling, waste reduction, and resource efficiency can create value across supply chains, turning sustainability into a competitive advantage.

The right blend of fiscal and regulatory measures in this Union Budget can set the stage for an India where innovation thrives, sustainability is prioritized, and economic growth accelerates in harmony with environmental stewardship. By creating an enabling ecosystem for green growth and advanced manufacturing, India will not only reinforce its position as a global manufacturing hub but also inspire industries to co-create solutions for a better, more sustainable tomorrow.