Interiors
Sammeer Pakvasa, Managing Director and CEO of Eleganz InteriorsAs we approach this year’s budget announcement, the interior design and build fit-out industry is optimistic yet cautious. With India’s construction and real estate sector projected to grow at a robust rate—various estimates place the CAGR at around 9-10% from 2023 to 2028—there is immense potential to align policies that fuel sustainable and innovative growth. A key expectation from the budget is the introduction of additional tax incentives or subsidies for sustainable building practices and materials. As India pushes toward its Net Zero carbon goals by 2070, the interior design and build fit-out sector must be encouraged to adopt green building standards, such as LEED and WELL certifications, which can significantly lower the environmental footprint of commercial and residential spaces while fostering responsible design. The Indian government’s initiatives, such as the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), have laid a foundation for skill development; however, tailored programs for interior craftsmanship and build fit-out technologies can further bridge the projected 34% rise in demand for skilled workers in the construction and interiors segment over the next five years. Moreover, as workspaces evolve in response to hybrid work models, there is a growing demand for flexible and wellness-centric designs. Policies promoting corporate tax benefits for investments in employee-friendly and ergonomic office upgrades could drive businesses to reimagine work environments. Additionally, an increased allocation for infrastructure development, particularly in Tier II and III cities, could unlock untapped potential in these emerging markets. Strengthening these regions with enhanced connectivity and commercial spaces will catalyze economic growth and create opportunities for the design and build fit-out sector. This budget presents a unique opportunity to champion sustainability, innovation, and inclusivity, ensuring the design and build fit-out sector contributes meaningfully to India’s growth story. With supportive policies, the industry can deliver spaces that are not only aesthetically appealing but also functional, sustainable, and future-ready.
Technology
Yug Bhatia, Founder and CEO of Control ZAs the 2025 Union Budget approaches, there is a prime opportunity for the government to prioritize the growth of the circular economy and sustainable technology sectors. The global refurbished smartphone market is growing at a 10.23% CAGR, and India’s e-waste management industry is projected to reach $7.5 billion by 2025, highlighting the immense potential for sustainable innovation. To capitalize on this, the government should focus on introducing tax incentives for electronics refurbishment and recycling, which would reduce e-waste while encouraging sustainable consumption practices across industries. Additionally, investing in research and development for green technologies and advanced recycling methods can position India as a leader in sustainability and innovation. Further, with more than 70% of Indian consumers now open to purchasing refurbished products, public awareness campaigns can drive a significant shift in consumer behavior, expanding demand for sustainable technology. By supporting these initiatives, the government can help foster a thriving circular economy, reduce environmental impact, and establish India as a global leader in the sustainable technology space. This budget provides a chance to drive both environmental and economic growth while advancing India’s position in the global green tech movement.
Jewellery
Sumit Dassani, Partner, Dassani BrothersThe Union Budget 2025-26 presents an opportunity for the government to empower the jewelry sector, which contributes nearly 7% to India’s GDP and employs over 5 million people, as per the Gem and Jewellery Export Promotion Council (GJEPC). A reduction in the current 10.75% import duty on gold could significantly enhance affordability for consumers, boost domestic demand, and curb unregulated trade, which remains a pressing concern for the industry. Additionally, as per the World Gold Council, India is responsible for nearly 27% of global gold demand, yet we continue to face competitive challenges in the international market. Policy reforms such as easing GST rates on precious metals and streamlining compliance norms for exports can bolster our global standing and encourage greater participation from smaller businesses and artisans. Moreover, with the global luxury market expected to grow at a compound annual rate of 5-6% through 2027 (according to Bain & Company), we must position India as a leading destination for high-value, handcrafted jewelry. Initiatives like skill development programs for artisans and incentives for sustainable and innovative practices in the sector can further drive this vision. At Dassani Brothers, we remain committed to preserving the legacy of handcrafted heirloom jewelry while embracing modern trends and sustainability. We hope this year’s budget paves the way for growth, affordability, and innovation in the jewelry sector, ensuring that India continues to shine as a global leader in fine craftsmanship.
Education
Kavita Kerawalla, Vice Chairperson of VIBGYOR Group of Schools“The allocation of ₹1.48 lakh crore in the last Budget for education, employment, and skilling was a commendable step in strengthening India’s position as a global talent hub. As we approach the next Union Budget, we are hopeful that a significant share will go towards education, particularly for teacher training. Investing in our educators is key to building a skilled and inclusive workforce ready to tackle future challenges.Such investments will boost both foundational and higher education, giving our youth the skills they need to excel in a competitive job market. These steps will also ensure quality education reaches every corner of the country, helping bridge the digital divide and bringing the benefits of technology to all students. We believe the upcoming Budget should focus on building strong digital infrastructure to support blended learning, narrow the rural-urban gap, and scale technology-driven education programs. This will help us thrive in the digital era, preparing students for a tech-focused world.These initiatives won’t just empower our youth—they will also drive India’s journey to becoming a developed nation by 2047. We hope to see a focus on modernising education to match industry needs while encouraging the growth of the EdTech sector. Such moves will greatly benefit private institutions like ours, helping us strengthen tech infrastructure, run advanced teacher training, and adopt sustainability measures. We’re optimistic about continued government support in these areas to help us contribute more effectively to India’s education system.”
Manufacturing
Jay Deepak Shah, CEO & MD, Jay Wood Industry“As we approach Budget 2025, the SME sector in manufacturing and packaging, holds high expectations for transformative growth. The Indian green packaging market is projected to grow at a CAGR of 6.52% from 2024 to 2032—demonstrating the significant potential for growth in sustainable packaging.With increasing industrial activity, urbanization, and a rising demand for sustainable packaging, SMEs are well-positioned to enhance India’s global competitiveness. Government initiatives like ‘Atmanirbhar Bharat’ and ‘Make in India’ are fostering innovation and strengthening the backbone of the economy—small and medium enterprises. Sustainability will continue to be a central focus, with measures such as Extended Producer Responsibility (EPR) and initiatives to reduce plastic waste paving the way for biodegradable and recyclable packaging solutions. By 2025, we expect to see stronger support for eco-friendly practices, accelerating the transition to a circular economy and promoting green manufacturing.
At M/s Jay Wood Industry (JWI), we are committed to driving this transformation. Our dedication to manufacturing sustainable wooden pallets using responsibly sourced materials and energy-efficient processes underscores the vital role SMEs play in advancing green innovation. We hope that Budget 2025 will introduce incentives for sustainable practices, strengthen SME-friendly policies, and encourage investment in green technologies, further empowering the sector. We are optimistic about the future and ready to lead the shift towards sustainable growth, championing a united movement for a greener and more sustainable future in the industry.”