Unaudited standalone & consolidated financial results for the nine months ended December 31, 2024
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Unaudited standalone & consolidated financial results for the nine months ended December 31, 2024

Sundaram Finance logs highest-ever 9M disbursements of Rs. 21,532 crores; AUM grows 19% to Rs. 50,199 crores

Net profit for 9MFY25 up by 5% at Rs. 997 crores

Profits from Operations up by 22% in 9MFY25

Continued improvement in asset quality with Gross Stage 3 assets at 1.70% (1.77% as of December 31, 2023) and Net Stage 3 assets at 0.97% (1.02% as of December 31, 2023)

ROA at 2.49% for 9MFY25 (2.79% for 9MFY24)  

Capital Adequacy Ratio at 20.0% (20.0% for 9MFY24)

140% interim dividend (Rs. 14/- per share) declared

The Board of Directors of Sundaram Finance Ltd. (SFL) approved the unaudited standalone and consolidated financial results for the nine months ended Dec 31, 2024, at its meeting held on Feb 03, 2025, in Chennai.

“Economic activity in the festival season that marks Q3 has been below expectations. Team Sundaram has delivered a terrific Q3 with 19% growth in AUM to Rs. 50,199 crores, improving asset quality with net stage 3 at 0.97% vs 1.02% last year and profits from operations growing 22% year-on-year. Our Group companies in asset management, general insurance and home finance have continued their trajectory from FY24 and recorded strong results. We continue to rely on our time-tested approach of steady and sustainable growth with best-in-class asset quality and consistent profitability,” said Harsha Viji, Executive Vice Chairman.

Disbursements for 9MFY25 recorded a growth of 8% over 9MFY24 with 19% growth in disbursements for Q3FY25 over last year. Gross stage 3 assets improved over the previous year. Gross stage 3 assets as of December 31, 2024, stood at 1.70% with a provision cover of 43% as against 1.77% as of December 31, 2023, with a provision cover of 43%. Core operations performed strongly with profit from operations up by 22% in 9MFY25. Profits after tax at Rs. 997 crores registered an increase of 5% in 9MFY25 as against Rs. 948 crores in 9MFY24, primarily due to a shift in the timing of dividends in the prior period (Rs. 43 crores in 9MFY25 vs Rs. 181 crores in 9MFY24). Return on assets closed at 2.49% in 9MFY25 as against 2.79% for 9MFY24 and capital adequacy at 20.0% remains quite comfortable.

Rajiv Lochan, Managing Director, Sundaram FInance

“It has been a strong quarter for the company despite a relatively muted Q3 for the industry. We have gained market share across nearly all asset classes that we focus on, resulting in 19% growth in disbursements for the quarter YOY and 19% AUM growth. Our asset quality continues to improve, even as the collections environment for the sector tightens. Operating profits (excluding dividends and one-time gains) have grown strongly by 22%. Looking ahead, we are well positioned to continue our marathon running – steady growth, best-in-class asset quality and continued resilient profitability – and in delivering the Sundaram experience to our customers, people and partners,” said Rajiv Lochan, Managing Director.

STANDALONE PERFORMANCE HIGHLIGHTS FOR 9MFY25

• Disbursements for Q3FY25 grew by 19% to Rs. 7,764 crores as compared to Rs. 6,524 crores registered in Q3FY24. Disbursements for 9MFY25 grew by 8% to Rs. 21,532 crores as compared to Rs. 19,954 crores registered in 9MFY24.
• The assets under management grew by 19% to Rs. 50,199 crores as on 31st December 2024 as against Rs. 42,172 crores as on 31st December 2023.
• Net interest income grew 21.4% to Rs. 2,040 crores in 9MFY25 from Rs. 1,681 crores in 9MFY24.
• Gross stage 3 as on 31st December 2024 stood at 1.70% with 43% provision cover as against 1.77% with provision cover of 43% as on 31st December 2023. Net stage 3 as on 31st December 2024 closed at 0.97% as against 1.02% as on 31st December 2023.
• The Gross and Net NPA, as per RBI’s asset classification norms for NBFCs, are 2.46% and 1.62% respectively as against 2.61% and 1.82% as of 31st December 2023.
• Profit from operations increased by 22% in 9MFY25 as compared to 9MFY24.
• Cost to income ratio closed at 31.37% in 9MFY25 as against 35.12% in 9MFY24.
• Profit after tax registered a 5% rise in 9MFY25, with net profit at Rs. 997 crores. The company had registered a net profit of Rs. 948 crores in 9MFY24.
• Return on assets (ROA) for 9MFY25 closed at 2.49% as against 2.79% for 9MFY24. Return on equity (ROE) was at 14.3% for 9MFY25 as against 15.5% for 9MFY24.
• Capital Adequacy Ratio stood at 20.0% (Tier I –16.6%) as of 31st December 2024 compared to 20.0% (Tier I – 16.0%) as of 31st December 2023.
• The Company has declared an interim dividend of Rs. 14/- per share (140%).

CONSOLIDATED PERFORMANCE HIGHLIGHTS FOR 9MFY25

The consolidated results of SFL include the results of its standalone subsidiaries Sundaram Home Finance, Sundaram Asset Management and joint venture company Royal Sundaram General Insurance.
• The assets under management (AUM) in our lending and general insurance businesses stood at Rs. 75,708 crores as on 31st December 2024 as against Rs. 63,658 crores as on 31st December 2023, a growth of 19%. The assets under management of our asset management business stood at Rs. 76,038 crores as on 31st December 2024 as against Rs. 67,272 crores as on 31st December 2023, a growth of 13%.
• Profit after tax for 9MFY25 grew by 14% to Rs. 1,326 crores as compared to Rs. 1,168 crores in 9MFY24.

GROUP COMPANY PERFORMANCE HIGHLIGHTS

Our group companies continued to perform well.

• The asset management business closed the nine months ended 31st December 2024 with assets under management of Rs. 76,038 crores (over 80% in equity) and consolidated profits from the asset management businesses was at Rs. 107 crores as against Rs. 74 crores in 9MFY24.

• Royal Sundaram reported a Gross Written Premium (GWP) of Rs. 2,965 crores as compared to Rs. 2,792 crores in the corresponding period of the previous year, representing a growth of 6%. The Company reported a profit after tax of Rs. 134 crores for 9MFY25 as against a profit of Rs. 178 crores in 9MFY24.

• Sundaram Home Finance continued to grow strongly with disbursements up by 29% to Rs. 4,588 crores in 9MFY25. The profit for 9MFY25 was Rs. 173 crores, as against Rs. 179 crores in 9MFY24.

Snowman Logistics Reports 6.30% Revenue Growth in Q3 FY25, Strengthening Market Position
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Snowman Logistics Reports 6.30% Revenue Growth in Q3 FY25, Strengthening Market Position

Mumbai, 3rd February 2025: During the quarter ended December 31, 2024, Snowman Logistics Ltd recorded revenue of INR 131.85 Crores as against INR 124.05 Crores for the same period in the previous year, registering a growth of 6.30%. EBITDA recorded at INR 21.83 Crores as against INR 27.50 Crores, in the corresponding quarter of the […]

The post Snowman Logistics Reports 6.30% Revenue Growth in Q3 FY25, Strengthening Market Position first appeared on Business News Week.

Post budget reaction from Startups
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Post budget reaction from Startups

Mr. Arvind Krishnan; Founder and CEO of Skope Kitchens  “Lowering taxes for India’s expansive middle class is poised to significantly stimulate domestic consumption, giving consumers extra spending power and fueling economic momentum. The Union Budget 2025 underscores India’s ambition to emerge as a global frontrunner in advanced technologies, with a special emphasis on Artificial Intelligence. […]

The post Post budget reaction from Startups first appeared on Business News Week.

Post Budget 2025-26 Insights of Experts from Various Industries
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Post Budget 2025-26 Insights of Experts from Various Industries

Abhishek Dua, Co-Founder & CEO of Showroom B2B

“The focus on MSMEs as India’s ‘second engine’ in the budget is a game-changer. With over 5.7 crore MSMEs contributing significantly to both manufacturing and exports, the enhanced credit facilities, technological upgrades, and the expansion of investment and turnover limits are set to propel these businesses to new heights. This, in turn, will catalyze innovation and create a robust ecosystem for employment, empowering India’s youth while reinforcing the country’s position as a global manufacturing hub.”

“The Finance Minister has set a bold vision—MSMEs as the second engine of growth. With MSMEs contributing 45% of exports, the sector’s importance cannot be overstated. The government’s decision to enhance classification limits and provide term loans up to ₹20 crore is a significant step toward unlocking this potential.

The introduction of customized credit cards for micro-enterprises is a thoughtful intervention, addressing the critical need for working capital. These measures, combined with the push for Industry 4.0, signal a clear intent to modernize India’s manufacturing sector and integrate it into global supply chains. The focus on youth participation in Industry 4.0 is particularly noteworthy. “

Eklavya Gupta, Co-Founder & CEO of Recur Club

The recent announcements in the budget underscore India’s commitment to becoming a magnet for foreign investment. The establishment of the Fund of Funds and the focus on public-private partnerships in infrastructure projects are key drivers of this strategy. It demonstrates a clear intention to bolster investor confidence and create an ecosystem that fosters sustainable growth while encouraging both domestic and international capital to flow into India’s high-potential sectors.

Deepanker Mahajan, Co-Founder and CEO, CoverYou

“This 2025 budget definitely lays a strong foundation for the future of India’s healthcare and insurance sectors. The addition of 10,000 medical seats this year, with a vision for 75,000 over the next five years, is a decisive step toward bridging the doctor-patient gap and ensuring equitable healthcare access. The establishment of 200 cancer daycare centers will be life-changing for millions, strengthening India’s fight against non-communicable diseases. For the insurance industry, the proposal to raise the FDI limit to 100% signals a new era of investment and innovation. This will not only expand coverage options for healthcare professionals but also ensure that doctors, hospitals, and patients have access to world-class insurance solutions. As the healthcare sector evolves, comprehensive insurance will be the backbone of a more protected and resilient system. We believe these reforms will empower India’s medical community while driving a stronger, more inclusive healthcare infrastructure. A thriving healthcare sector needs financial strength, and this budget takes us one step closer to that goal.”

Kashika Malhotra, Head of Business Development and Director of Brandman Retail 

“The Union Budget 2025 brings a significant boost to India’s retail and footwear sectors. The dedicated scheme for the footwear and leather industry, aimed at creating 22 lakh jobs, generating ₹4 lakh crore in revenue, and increasing exports to ₹1.1 lakh crore, directly supports the ‘Made in India’ vision by strengthening local manufacturing. This creates a favorable environment for licensing strategies, helping international brands collaborate with Indian manufacturers to produce locally and expand their reach. The National Manufacturing Mission further enhances India’s manufacturing capabilities, improving global competitiveness. Together, these initiatives will drive long-term growth, support the ‘Make for India, Make for the World’ vision, and open up new market opportunities in the retail and footwear sectors.”

Rajesh Patel, Co-Founder & CEO of Snowkap 

“The government’s initiative to strengthen clean tech manufacturing is a crucial step toward creating a sustainable and self-reliant energy ecosystem. By supporting the domestic production of solar cells, EV batteries, wind turbines, and grid-scale storage, this plan will help reduce the carbon footprint of energy generation while lessening reliance on imports. The focus on fostering innovation and R&D in clean technology is key to driving energy efficiency, creating high-value jobs, and positioning India as a leader in green technology. The emphasis on policy support and financial incentives will accelerate the shift to low-carbon operations across industries and promote sustainable industrialization.”

Vaibhav Khanna, CEO & Co-founder of Ezstays

The government’s commitment to strengthening India’s education infrastructure is evident in the expansion of IITs established after 2014. As part of this initiative, Finance Minister Nirmala Sitharaman announced that IIT Patna will undergo significant capacity expansion, alongside efforts to accommodate an additional 6,500 students across five IITs. The addition of new hostels and infrastructure will not only enhance student housing but also ensure that more students have access to quality education in a well-equipped learning environment. With Patna emerging as a key education hub, such developments will further encourage academic excellence and position India as a global leader in higher education. This strategic push towards educational and housing infrastructure will also contribute to the Viksit Bharat vision, fostering skilled and empowered youth who will drive the nation’s growth in the coming decades.

Urbanization with proper planning and world-class infrastructure is crucial for driving India’s holistic development and ensuring that growth reaches every corner of the nation. The government’s decision to allocate ₹1.5 lakh crore in interest-free loans and implement a structured 3-year PPP pipeline for infrastructure is a strong step toward this goal. Investing in urban development will not only modernize our cities but also create significant trickle-down effects—boosting employment, enhancing quality of life, and attracting global investment. If executed effectively, this initiative will be a key driver in realizing the Viksit Bharat vision, positioning India as a global leader in sustainable and inclusive urban growth.

“The announcement of a fresh ₹10,000 crore fund for startups and a dedicated scheme for 5 lakh women and first-time entrepreneurs from SC/ST communities is a step in the direction of making a more inclusive entrepreneurial ecosystem. Still, the biggest barrier remains access to capital for women and marginalized entrepreneurs. This move, therefore, opens up tremendous avenues for innovation and job creation. I believe this is going to drive not only more women-led businesses but also inspires the next generation of leaders to dream bigger. Real progress happens when entrepreneurship isn’t a privilege but an access point for everyone, and hopefully, this move comes with streamlined execution to amplify its impact.”

Sourabh Deorah, Co-founder & CEO, AdvantageClub.ai 

“The Union Budget 2025 brings a much-needed shift in India’s tax framework, starting with the exemption of income tax up to ₹12 lakh. For millions of middle-class taxpayers, this isn’t just a tax break—it’s more money in their pockets. With higher disposable income, consumer spending is set to rise, which in turn can fuel demand across industries, drive business expansion, and create more job opportunities.

Tax compliance is also getting a major upgrade with simpler TDS and TCS mechanisms. For startups and SMEs, often burdened by administrative red tape, this will ease compliance and free up resources for core business activities. Reduced compliance costs mean better cash flow management and a business environment that encourages investment and growth.

Given that MSMEs contribute nearly 30% of India’s GDP, these changes will help them reinvest in their operations and scale faster. And it’s not just about domestic growth—tax simplification strengthens India’s position as a top destination for global investments. These reforms make it easier for businesses of all sizes to thrive, which is crucial as India aims for the $5 trillion economy milestone.

This Budget clearly emphasizes ease of doing business and long-term growth. It’s laying the groundwork for an innovation-driven economy that supports both businesses and individuals. And with the New Income Tax Bill set to be presented next week, we can expect further steps to simplify the tax structure and bring more clarity for all stakeholders.

These are more than just policy changes—they’re a sign of India’s growing commitment to fostering sustainable business growth, innovation, and prosperity. It’s a step toward a future where both entrepreneurs and everyday citizens can thrive together.”

“Announcing a Deep Tech Fund of Funds is a game-changer for India’s startup landscape. Deep tech startups often have long gestation periods and need significant R&D investments. With this fund, startups no longer have to rely on thin air and hope to fuel innovation. It fits perfectly with India’s ambitions to lead globally in areas like AI, quantum computing, and other cutting-edge technologies.

This fund, backed by an additional ₹10,000 crore contribution, is poised to help deep tech startups scale faster, attract world-class talent, and drive breakthroughs in AI, robotics, and biotech. These sectors hold the potential to shape the future and transform industries, so timely support like this is critical for sustainable growth.

Just as important is the extension of tax benefits under Section 80-IAC for five more years. Startups can now focus on innovation and scaling without the fear of fiscal constraints holding them back. This breathing room can make a huge difference, enabling founders to take bold risks without worrying about financial pressures derailing their progress.

The government’s ₹91,000 crore commitment to Alternate Investment Funds (AIFs) further reinforces its dedication to creating a world-class startup ecosystem. This isn’t just about access to capital—it’s about building trust and confidence. India is positioning itself as a global powerhouse for both entrepreneurship and technological advancement.

Another notable step is aimed at micro-enterprises. Custom credit cards with limits of ₹5 lakh are being rolled out for businesses registered on the Udyam portal. With 10 lakh cards expected to be issued in the first year, this initiative will provide much-needed liquidity. For many micro-enterprises, scaling up or innovating is often hindered by cash flow issues. This move could be the key to unlocking their next phase of growth.

These measures go beyond mere policy announcements. They signal a bold vision for India’s startup ecosystem—one that supports both large-scale deep tech players and grassroots innovators. With this level of support, we’ll see a wave of Indian entrepreneurs building sustainable, globally competitive businesses. The long-term impact of these initiatives will be transformational, and I can’t wait to see what’s next.”

Kahraman Yigit, Co-founder & CEO of Olive

“The Union Budget 2025-26 recognizes tourism as a key driver of employment-led growth and extending infrastructure benefits to hotels in 50 select destinations is a welcome move. The sector anticipated infrastructure status, GST reforms, tourism incentives, and increased investment in travel infrastructure to drive growth and ease financial access. The focus on spiritual and medical tourism, visa waivers, and regional connectivity through the UDAN scheme will further boost domestic and international travel, unlocking new opportunities for the hospitality sector. At Olive by Embassy, we see these initiatives as a step toward creating a more vibrant, accessible, and investment-friendly ecosystem for hospitality in India.”

Introduced in 2019, Olive by Embassy is the co-living and hospitality wing of the Embassy Group. Olive is a multi-brand hospitality tech operating platform with multiple revenue avenues from management, design and technology.

Olive’s vision is to organize & institutionalize the accommodation market in India and beyond. The company’s mission is to become the largest hospitality company in India.

The company is currently present in 42 locations across Bengaluru, and Goa, with 1,921 keys and is aiming to add another 4,500+ keys within the next 12 months, including entry into new markets like Mumbai and Hyderabad.

Currently, Olive runs four brands — Olive Life, Olive Zip, Olive Hotel, and Select Olive — ranging from co-living and budget stays to luxury resorts, hotels, and villas. Each Olive property operates in both short-term and long-term stay formats while providing the comfort of the home as well as the flexibility of a hotel.

Jain Amar’s Akhil Jain Discusses Union Budget 2025 and Its Potential Impact on India’s Apparel Industry
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Jain Amar’s Akhil Jain Discusses Union Budget 2025 and Its Potential Impact on India’s Apparel Industry

Mr Akhil Jain, Executive Director, Jain Amar (Madame)

“India’s retail apparel and fashion industry was looking forward to the Union Budget with a lot of anticipation and optimism. The Budget aims to accelerate economic growth through four key drivers: Agriculture, MSMEs, Investment, and Exports. This ambitious plan is bolstered by comprehensive structural reforms in taxation, finance, and business regulations, which are designed to create a conducive environment for sustainable development.

One of the notable highlights is the introduction of revamped personal income tax slabs. This initiative is set to enhance disposable income for the public, thereby stimulating consumer spending and boosting economic activity. The synergistic impact of these measures is anticipated to provide a significant boost to the retail apparel industry. However, an increase in Customs duty rates on certain knitted fabrics poses a challenge. This could escalate raw material costs and exert pressure on profitability unless the viability of sourcing domestically available fabrics is effectively realized.”

Experts Weigh In: The Impact of Budget 2025
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Experts Weigh In: The Impact of Budget 2025

Leo Peter Charles, Founder & Managing Director

“In a major push for India’s maritime sector, Finance Minister Nirmala Sitharaman announced new provisions and facilities to enhance shipbuilding in India as part of the Union Budget 2025. This initiative is set to improve supply chain efficiency and strengthen the country’s logistics network.

With improved shipbuilding capabilities, India can expand its shipping fleet, reduce dependency on foreign vessels, and lower logistics costs. This will particularly benefit fisheries and agri-export sectors, ensuring faster, more cost-effective global trade. Strengthening domestic shipbuilding also supports port infrastructure and coastal connectivity, boosting India’s trade competitiveness worldwide.”

Harsh Talwar, Founder & CEO, Cashforphone 

“The 2025 Budget holds promising avenues for startups and the retail industry, especially those companies that specialize in sustainable and technology-based services such as mobile phone recycling, repair, and resale. The incorporation period of five years for startups and an increased Credit Guarantee Scheme of ₹20 crore will provide much-needed financial support to emerging businesses and spur innovation and growth in the circular economy.

The removal of TCS on certain transactions,coupled with the simplification of tax compliance, will ease complexity in operations, thereby making business transactions in the refurbished mobile phone market smoother. Reducing the BCD on crucial minerals such as lithium-ion battery waste and scrap, as done by the government, is a step in the right direction and is likely to fortify the electronics recycling industry in general to use resources appropriately and sustainably.

This budget further cements India’s commitment to developing a robust, technology-driven retail ecosystem by pushing ease of doing business and further reinforcing financial support for startups. We look forward to using these reforms to drive the adoption of refurbished and recycled mobile devices into a wider consumer base while supporting India’s green economy.”

Sarvesh Mutha, MD, IntegriMedical 

“This year’s budget lays a strong foundation for the future of India’s healthcare and medical innovation. Key measures like the expansion of medical education, establishment of Cancer Day Care Centres, and government’s commitment to promoting research and innovation provide a significant boost to the healthcare sector. But the real catalyst lies in the government’s focus on deep-tech and healthcare infrastructure. As a company dedicated to innovative healthcare solutions, we are encouraged by these initiatives and are eager to contribute to this transformative journey. By investing in healthcare infrastructure, skill development, and research, this budget takes meaningful steps toward making advanced healthcare more accessible for all.”
Amit Kapur (Managing Director of Vedatya)

Education is at a turning point, and artificial intelligence is the force that will shape its future. The way we learn, teach, and apply knowledge is evolving faster than ever, and the Union Budget has taken a decisive step toward integrating AI into education. The ₹500 crore investment in a Centre of Excellence in AI for Education is not just about adopting new technology; it’s about reimagining how learning can be made more personalised, inclusive, and industry-aligned.At Vedatya Institute, we believe AI should not replace human intelligence but enhance it. The challenge now lies in execution, ensuring AI is embedded thoughtfully into curriculum design, faculty training, and skill development. For India to truly lead in this space, academia, industry, and policymakers must collaborate to turn this vision into reality, equipping students with the skills they need for the jobs of tomorrow.

Ganesh Kamath (Founder and CEO of Earthraga) 

The abolition of angel tax in the Union Budget 2025 is a much-needed relief. For a long time, this tax has been a roadblock, creating unnecessary hurdles for investors and startups. By removing it, the government is making the investment process simpler and more transparent, which is exactly what’s needed to encourage growth and innovation.

For many entrepreneurs, this reform takes away a significant worry. It clears the way for more straightforward investments without the fear of facing tax issues later. This move will help create a healthier and more dynamic environment for businesses to thrive and scale without the added complexity of angel tax.

It’s a positive step forward for India’s entrepreneurial ecosystem, and we’re optimistic about what this will mean for the future of startups in the country.

Vanya Mishra, Co-founder & CEO of 

I would like to congratulate our honourable Finance Minister Nirmala Sitharaman on presenting yet another progressive, future-focused Budget. What excites me most is the significant push for AI in higher education. The establishment of five National Centres of Excellence for AI in Education is exactly what we need to drive innovation and technological advancement. At Astrosure.ai, our mission has always been to bring AI-driven innovation into fields where it’s never been applied before—like astrology and Vedic knowledge.

As a woman entrepreneur, I am also thrilled by the government’s announcement of a ₹2 crore term loan scheme for first-time women entrepreneurs. This initiative offers a much-needed boost, empowering women to take those crucial early risks, innovate, and actively contribute to India’s growing digital economy. It’s time for women to play a central role in this transformation.

However, while funding is vital, it alone won’t catalyze lasting change. To truly make an impact, we need mentorship, strong networks, and a supportive policy environment that helps women thrive. Networking for women often comes with unique challenges, and without the right support, it’s hard to break through. With proper guidance and mentorship—coupled with the power of AI—we are on the brink of a future where women aren’t just participating in tech; they are leading it. This Budget has set in motion key initiatives that make this vision more achievable than ever before.

Manveen Ssharma, Founder, Pinq Polka  

As a woman entrepreneur, today’s announcement is incredibly meaningful—not just for me, but for the entire women entrepreneurship community. The ₹10,000 crore ‘Women Entrepreneurship Fund’ is a game-changer for women-led businesses like Pinq Polka, offering
not just much-needed capital but also mentorship and guidance, which are often hard to come by.

The ₹100 million credit guarantee for SMEs is another great supportive step, making financing more accessible for women entrepreneurs who have historically faced challenges in securing financial support for business growth.

On a personal level, the extension of the Mahila Samman Savings Scheme is a huge relief. It’s a powerful initiative that enables women to save and plan for a secure future, and I’m thrilled that more women will now have access to it.

The government’s commitment to supporting women-led businesses and fostering financial independence is exactly what’s needed to drive true empowerment. I’m excited to see how these initiatives will help women entrepreneurs thrive and scale their businesses.

Parthiban S, Head of Business Development, BGR Tech Ltd 

“The government’s Nuclear Energy Mission, with a ₹20,000 crore investment to promote research and development of small modular reactors (SMRs), presents a significant growth opportunity for our business. This initiative fosters advancements in clean energy technology, driving demand for innovative solutions in energy storage, electrochemical systems, and sustainable infrastructure—areas where we have a strong foothold. By aligning our expertise with this mission, we can position ourselves as key contributors to India’s evolving nuclear energy landscape.

Overall, this budget reaffirms the government’s commitment to building a robust, sustainable, and future-ready business ecosystem. We are eager to contribute to these transformative initiatives, driving India closer to the vision of Viksit Bharat by 2047.”

Kapil Makhija, MD & CEO, Unicommerce

“The announcements made in the Union Budget 2025 will give a fillip to e-commerce, MSMEs and start-ups. The focus on Export Promotion Missions will help address challenges such as export credit access and resolution of non-tariff barriers. This will accelerate cross-border trading, allowing more Indian enterprises to scale globally. A fresh allocation of Rs 10,000 crore for start-ups related Fund-of-Funds will help create a new roadmap for innovation, especially in digital retail and supply chain automation.”

Expert Reactions to the 2025 Budget: Key Insights
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Expert Reactions to the 2025 Budget: Key Insights

Amit Tandon, Founder and CEO, PolyCycl

“The Union Budget 2025-26 underscores the government’s commitment to sustainability through initiatives like the ₹1 lakh crore Urban Challenge Fund, which has the potential to support innovative waste management and recycling solutions. This is a welcome step towards building cleaner, more sustainable cities and could create new opportunities for the plastic recycling industry to contribute to urban sustainability.

We look forward also to direct policy interventions aimed towards accelerating advanced plastic recycling, such as financial incentives for chemical recycling, a dedicated Product Linked Incentive (PLI) scheme and GST exemptions on circular feedstocks like ISSC-certified pyrolysis oils. These measures remain critical for scaling closed-loop recycling and achieving Extended Producer Responsibility (EPR) targets of recycling 60–80% waste plastics by 2027–2028.

We remain optimistic that future policy frameworks will further integrate circular economy principles, fostering collaboration between the government and industry to drive impactful change in plastic waste management and sustainability.”

Bimal Khandelwal, CEO at STT GDC India

“Budget 2025-2026 is a great step towards a promising and bountiful future, which emphasizes on India’s commitment towards growth, innovation, and sustainability. The focus on manufacturing, clean tech, and skilling will strengthen our digital and infrastructure backbone, fueling private sector investments and job creation. Moreover, the establishment of Centers of Excellence for AI by the government and significant interest-free financing support for state infrastructure provide a strong basis for digital development.

As a digital infrastructure leader and a leading data center solutions, we welcome the emphasis on AI, deep tech, and climate-friendly development, which aligns with our vision of a smarter and a greener future. These reforms will empower enterprises and ease out business operations propelling India’s digital economy to new heights.”

 Amar Nagaram, Co-Founder & CEO, VIRGIO

“The Union Budget’s focus on fostering innovation, empowering MSMEs, and strengthening India’s digital economy is a step in the right direction. The ₹500 crore allocation to deep-tech and AI innovation will be instrumental in driving AI-led advancements and data-driven solutions, enabling businesses to scale efficiently. The ₹20,000 crore investment in innovation, along with the establishment of a Deep Tech Fund, will play a pivotal role in accelerating the adoption of next-generation production technologies. Furthermore, the five-year Mission for Cotton Productivity will strengthen a powerful, proplanet, and premium raw material supply chain. Incentives for sustainable manufacturing and circular economy initiatives validate the growing shift towards responsible fashion. The significant enhancement of credit availability with guarantee cover for start-ups will provide crucial support for emerging businesses, while also generating employment opportunities. A progressive policy framework that supports startups will accelerate India’s journey to becoming a global hub for innovation and conscious consumption.

Jayanth Kashyap, Investment Lead, Good Fashion Fund

The Finance Minister’s vision for accelerating growth through investment in people, innovation, and sustainable manufacturing is a welcome step for the textile and apparel sector. The ₹20,000 crore investment in innovation and the establishment of a Deep Tech Fund will be instrumental in driving the adoption of next-gen technologies. This, combined with the five-year Mission for Cotton Productivity, will ensure a resilient, sustainable, and high-quality raw material pipeline—critical for advancing responsible fashion. Additionally, the Saksham Anganwadi and Poshan 2.0 initiative reinforces the need for human capital development, ensuring long-term economic resilience. At Good Fashion Fund, we remain committed to supporting manufacturers in India’s textile ecosystem by facilitating access to capital for sustainable and disruptive production solutions, aligning with ⁠India’s ambition to become a global hub for sustainable fashion.

Dr. Vishal Arora, Chief of Business Transformation & Operational Excellence

“The Union Budget 2025-26 focuses on affordable and technology-driven health with strengthened medical education, infrastructure, and the digital health initiative. In order to bridge the doctor-patient gap, 10,000 new UG and PG medical seats will be introduced this year. Overall, the goal would be to increase this figure to 75,000 in five years. The Day Care Cancer Centers will open in all district hospitals, starting with 200 this year, which will expand cancer care. Exemption of customs duty for 36 critical medicines, including drugs for cancer and rare diseases, will make life-saving treatments more accessible. Proposal for a reduction of GST on health insurance to make wider coverage possible is a commendable step. A ₹500 crore Centre of Excellence in AI will push medical research, and medical tourism initiatives will definitely put India on the global healthcare map. Focused on education, digital transformation, affordability, and innovation, this budget is a huge step towards universal health coverage and better patient care.”

Akshit Bansal, Founder & CEO, Statiq

“The 2025 Union Budget lays a strong foundation for India’s EV sector, with the National Manufacturing Mission providing crucial support for clean-tech industries, including EV batteries and high-voltage transmission equipment. This initiative will strengthen domestic manufacturing, reducing import dependence and fostering a self-reliant EV ecosystem under the ‘Make in India’ vision. The government’s continued efforts to localize EV component manufacturing will further enhance supply chain resilience and cost efficiency, making EV adoption more viable.

Additionally, the new ₹10,000 crore infusion into the ‘Fund of Funds for Startups’ is a significant step in accelerating entrepreneurship in the EV space. Such initiatives will encourage innovation in EV charging infrastructure, making charging more accessible and efficient.

However, a revision in the GST structure for charging infrastructure is still needed. Bringing them in line with the 5% GST on EVs will further catalyze growth. With continued policy support, India is poised to build a robust EV charging network, ensuring seamless adoption of electric mobility across the country.” said Mr. Akshit Bansal, Founder & CEO, Statiq

Suyash Gupta, Director General of the Indian Auto LPG Coalition

“Budget 2025 is a commendable step towards the overall growth of our economy, with a notable push towards clean tech and electric vehicle (EV) growth, as highlighted by the Finance Minister. However, it is important to note that in the realm of clean mobility, the focus has predominantly been on EVs, while other clean alternatives such as Auto LPG, hydrogen, and bio-fuel have been overlooked. Additionally, the budget could have done more to address the critical issue of urban pollution, which could be significantly alleviated by integrating these alternative fuels. As the detailed provisions are yet to be revealed, there was an expectation for announcements aimed at fostering the integration of cleaner and more affordable alternative fuels into public mobility policies.

Recognizing that achieving net-zero goals is a gradual process, leveraging readily available solutions like Auto LPG could have played a significant role in addressing both pollution in cities and promoting green growth, aligning with the budget’s envisioned objectives. The inclusion of Auto LPG, hydrogen, and bio-fuel in public mobility policies would have further diversified our clean energy portfolio and accelerated our transition towards a sustainable future.” said Mr. Suyash Gupta, Director General of the Indian Auto LPG Coalition

Ishaan Parwanda, Director, Trinity Touch

“I am glad to see the government’s strong focus on consumption in this year’s budget, as it will ultimately drive the EV market forward. Consumers will decide which EVs to buy, and this will have a significant positive impact on the industry. The exemption of certain capital goods for EV battery manufacturing is a welcome step, as it will help reduce production costs and make EVs more affordable in India.

With lower taxes putting more money into consumers’ pockets, we can expect higher spending in the EV sector. The tax exemption threshold, which stood at ₹2.5 lakh in 2014, has now risen to ₹12 lakh, freeing up substantial disposable income. Over the next three quarters, we should see this translate into greater momentum for charge point operators, two-wheelers, and four-wheelers. With multiple car manufacturers launching new EV models this year, the market is poised for significant growth.

That said, I had hoped for more on the capital expenditure front and additional exemptions for component manufacturers, particularly for smaller-scale projects. While many incentives exist for large-scale initiatives, similar support for smaller players is still missing. Nevertheless, this budget lays a strong foundation, and I am optimistic that further refinements will come in due course.” said Mr. Ishaan Parwanda, Director, Trinity Touch

Ankit Sharma, CEO & Co-Founder, Vidyuta 

Budget 2025 has been a significant step forward for the green mobility sector, providing much-needed growth for the Electric Vehicle industry. We are thrilled with the announcement of a new manufacturing mission under the Make in India initiative, which will support small, medium, and large industries with comprehensive policy backing and a detailed framework. This mission will also champion clean tech and build an ecosystem for solar cells, EV batteries, and high-voltage transmission equipment.

Moreover, we welcome the Finance Minister’s proposal to fully exempt Basic Customs Duty (BCD) on cobalt powder, lithium-ion battery waste, scrap, and 12 other critical minerals. This initiative aims to secure the availability of these materials for manufacturing in India and create job opportunities for the youth.

However, we were hoping for a revision in the GST rates for lithium-ion batteries and EV charging infrastructure to match the 5% GST on electric vehicles. Currently, while EVs are taxed at 5%, batteries and charging services are subject to an 18% GST.

The introduction of the new ‘Fund of Funds for Startups’ with an additional Rs. 10,000 crore, on top of the existing Rs. 10,000 crore, will power entrepreneurship and significantly boost our manufacturing capabilities. Initiatives like these are crucial for fostering innovation and driving India towards a sustainable and green future,”

Raj K Gopalakrishnan, Co-Founder & CEO, KOGO AI

“The 2025 budget just gave India’s AI scene a bit of an adrenaline shot. ₹20,000 crore across two ‘fund of funds’ is exactly the kind of fuel AI startups need to go big, build smarter, and solve real-world problems at scale. This isn’t just about catching up—it’s about putting India in the driver’s seat of AI innovation, especially in areas like security, inclusivity, and cracking the language barriers that global AI models still struggle with,” said Raj K Gopalakrishnan, Co-Founder & CEO of KOGO AI.

“But what really stands out? The talent pipeline. Expanding IIT seats and rolling out AI-focused fellowships at IITs and IISc is a killer move. Right now, the world is in a full-blown AI talent crunch, and this is India’s shot at not just filling that gap but owning it. This budget doesn’t just set the stage—it hands startups and young innovators the mic to build AI that’s not just cutting-edge but straight-up game-changing on a global level”

Subhot Enterprises Expands Operations with New Manufacturing Unit in Ghaziabad
Neel Achary business
Subhot Enterprises Expands Operations with New Manufacturing Unit in Ghaziabad

Ghaziabad, India 03rd February 2025: Subhot Enterprises proudly announced the inauguration of its second manufacturing facility in Ghaziabad, marking a significant milestone in the company’s expansion and growth. The grand opening event witnessed the presence of esteemed dignitaries, including the District Magistrate of Ghaziabad, the Additional Deputy Commissioner of Police (ADCP) – Cyber Security, prominent […]

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State Bank of India: Chairman’s quote on Union Budget 2025-26
Neel Achary business
State Bank of India: Chairman’s quote on Union Budget 2025-26

Mr. Challa Sreenivasulu Setty,Chairman of SBI “The Union Budget reaffirms India as an innovation and knowledge centric economy with a slew of reforms across agriculture, MSME, export centricity, education and healthcare and balancing skills and AI. The rationalisation of personal tax reforms could unleash a potential consumption boom of at least Rs 3.3 trillion spend […]

The post State Bank of India: Chairman’s quote on Union Budget 2025-26 first appeared on Business News Week.

Pendown Press Celebrates Milestone at World Book Fair 2025
Bhumika Lenka news
Pendown Press Celebrates Milestone at World Book Fair 2025

New Delhi: Pendown Press, widely regarded as the business community’s top choice for publishing, held a grand ribbon-cutting ceremony at their stall in Hall 5, Stall Number G-08, during the opening day of the prestigious World Book Fair 2025. The ceremony was a significant moment for Pendown Press, as the publishing house earned the rare distinction of hosting a book launch on the very first day of the fair. This honor underscores Pendown’s unwavering commitment to empowering business owners and professionals by helping them establish authority through books.

Addressing an enthusiastic audience comprising media representatives, book lovers, and dignitaries from far and wide, Mr. Dinesh Verma, Founder and CMD of Pendown Press, delivered an inspiring speech:“Ladies and gentlemen, distinguished guests, and fellow book lovers, it is my great pleasure to welcome you all to the ribbon-cutting ceremony at the World Book Fair. This annual event celebrates the power of the written word, uniting people from all corners of the globe.

We are here today to officially open our stall and mark the beginning of what promises to be an exciting and enriching journey for all of us at this remarkable fair. The event brings together a vast array of authors, publishers, educators, and readers, all united by their love of books and their desire to share ideas and insights. As we cut the ribbon, let us remember that books are more than just objects on shelves. They are keys to Power, Popularity, and a Passport to a world where solutions to business challenges are unlocked effortlessly. Books open doors to opportunities, foster connections, and establish authority.

So, let us celebrate the opening of the World Book Fair with joy, gratitude, and a deep appreciation for the written word. Let us explore the exhibits, meet new people, and discover fresh ideas. Above all, let us never forget the importance of books in shaping our lives and the world.

Thank you, and enjoy the fair!”