Finance minister Nirmala Sitharaman presented her sixth consecutive budget, matching the record set by former Prime Minister Morarji Desai, just ahead of the Parliamentary elections. Find out what the leaders of Flipkart, Meesho, Nykaa and IKEA had to say.
Kalyan Krishnamurthy, Group CEO, Flipkart said, “The interim budget is aimed at bolstering the government’s commitment to fiscal consolidation while creating greater opportunities for industry and its entrepreneurs. With a corpus for low interest rate loans to startups and initiatives on reducing borrowing costs, the budget provides a fillip for innovation and R&D in the country. An increased focus on bigger capex and infrastructure, amid higher wages and lower inflation, will reduce logistics costs and improve productivity of companies. It will also lead to more affordable products and services for consumers. Encouragement to investments will give MSMEs and farmers room to scale up while bringing in more capital and technology in the sector. Further, strengthening and expanding the e-vehicle ecosystem by supporting manufacturing and charging infrastructure and the call for greater adoption of electric buses and vehicles for public transport signifies a paradigm shift towards greener mobility solutions.”
Vidit Aatrey, Founder & CEO, Meesho said, “The emphasis on the MSME sector reflects the government’s commitment to timely support, relevant technologies, and essential training. Recognizing the pivotal role they play, the government’s dedicated focus on growth and global competitiveness is a crucial stride. Keeping with last year’s emphasis on MSMEs, the government has announced a comprehensive set of measures this year as well. These initiatives are poised to bring substantial benefits to the MSME ecosystem, reinforcing the commitment to foster growth, innovation, and resilience within this vital sector, elevating India’s global standing.”
Susanne Pulverer, CEO and CSO (Chief Sustainability Officer), IKEA India said, “We welcome the positive strides taken by the Indian government in the Interim Budget. The focus on manufacturing, youth, skilling and women empowerment is truly commendable and will pave the way for a more inclusive growth and economy. The emphasis on making energy security and infrastructure for green mobility accessible and affordable for the many people resonates with IKEA’s sustainability vision. We believe that the government has only furthered the country’s resolve for a Viksit Bharat.”
Falguni Nayar, Founder and CEO of Nykaa said, “The Finance Minister’s budget reflects a holistic approach, strategically combining support for innovation, youth and women empowerment, and MSME growth. It sets a promising tone for India’s economic future, underscoring both resilience and inclusivity.The establishment of a corpus of Rupees One Lakh Crore for our tech-savvy youth will usher an era of innovation. I find this immensely encouraging because since inception, Nykaa has harnessed the power of technology to transform India’s beauty and lifestyle markets. With thousands of technology startups in India, responsible for creating numerous jobs in the last decade, this financial boost will also propel research and development. This could catalyze significant advancements in the technology sector while unlocking the unique potential of our demographic dividend.”
She added, “In a strategic step towards nurturing the entrepreneurial essence of MSMEs, the budget announcements are poised to create an enabling environment for their growth. By providing necessary financial and training support, this initiative empowers homegrown entrepreneurs to not only thrive in India’s dynamic business landscape but also position them for global competitiveness.”