Budget 2025 expectations LIVE updates: Kuldip Raina, Director of Sales and Marketing at Shalimar Paints emphasized the importance of reducing import duties on raw materials and incentivising rural penetration to unlock untapped markets and sustain industry growth.
Budget 2025 expectations LIVE updates: Kuldip Raina, Director of Sales and Marketing at Shalimar Paints, expressed optimism about the paint industry’s prospects in Budget 2025, driven by India’s GDP growth, smart city developments, and the rising demand for decorative and industrial paints. He stated the potential for market expansion due to lower per capita paint consumption compared to developed nations.
Raina emphasized the need for government measures, such as reducing import duties, offering discounts on raw materials, and incentivising rural penetration. He also advocated for policies supporting R&D, stable raw material supply, and export growth, which would enhance the industry’s global competitiveness and sustainability.
The Union Finance Minister Nirmala Sitharaman is set to present her eighth budget on February 1. With the economy grappling with slowing domestic growth and global uncertainties, the budget is likely to focus on tax simplification, increased capital spending, and measures to boost consumption. These steps could provide a much-needed boost to the digital infrastructure sector and help address its pressing concerns.
