The Union Budget 2025-26 unveils a series of strategic measures aimed at revitalizing the lifestyle products industry. Key highlights include:
- Enhanced Consumer Spending:
Initiatives designed to boost disposable incomes and consumer confidence are expected to drive higher expenditure on lifestyle products. - Favorable Tax Reforms:
Adjustments in GST rates and targeted tax incentives will benefit both manufacturers and retailers, making lifestyle products more competitively priced in the market. - Digital and E-commerce Expansion:
Increased investments in digital infrastructure will enable lifestyle brands to enhance their online presence, streamline operations, and tap into wider e-commerce opportunities. - Support for MSMEs and Startups:
Simplified regulatory procedures and improved access to finance will empower small and emerging brands to innovate, scale, and thrive in a competitive landscape. - Focus on Sustainability and Wellness:
With a growing demand for eco-friendly and wellness-oriented products, budget measures emphasizing sustainable practices and health-conscious living are set to align perfectly with evolving consumer trends.

Overall, the Union Budget 2025-26 unlocks vast opportunities for growth and innovation in the lifestyle products sector, with tech and electronics leaders also sharing their insights.

Mr. Rajesh Doshi, Co-founder & Director at Zebronics
“The Union Budget 2025’s introduction of the National Manufacturing Mission will bolster the ‘Make in India’ initiative significantly along with the reforms for MSMEs and start-ups which will greatly encourage employment opportunities including women workforce, across all spectrums. Additionally, the revised New Income Tax regime, with no tax on income up to ₹12 lakh, underscores increase in disposable income, stimulating consumer spending and economic growth.”

Mr. Arijeet Talapatra, CEO of itel and TECNO
“The Union Budget 2025 signals a strategic move to position India as a global hub for mobile manufacturing. The proposed tariff reductions on essential assembly components—such as PCBAs, camera modules, USB cables, and display modules—are a welcome measure that will improve cost efficiencies, accelerate localization, and strengthen the Make in India initiative. This move strengthens India’s position in the global supply chain, especially amidst shifting trade dynamics amongst major economies.
The decision to raise the income tax exemption limit upto ₹12 lakh will substantially increase disposable income, providing a significant financial boost to taxpayers, leading to increased consumer spending on electronics. As purchasing power of consumers rises, the demand for smartphones and other digital devices is expected to rise, further fueling the growth of India’s electronics industry. The establishment of five National Centres of Excellence for Skills and global skilling cooperation would equip young people for global opportunities. The Make in India campaign and streamlined trade policies are consistent with the government’s goals of driving growth, promoting investment, and encouraging women workforce participation.”

Mr. Ravi Kunwar, VP and CEO, HMD India and APAC
The Union Budget 2025-26 presents encouraging prospects for the technology and digital infrastructure sector. We applaud the Indian Government for reinforcing India’s vision for self-reliance and innovation-driven growth in electronics manufacturing. Reducing BCD to 5% on open cell components and including 28 additional capital goods for mobile battery fabrication will strengthen local manufacturing and further generate employment in the sector. The formation of the National Manufacturing Mission and investment in skilling initiatives will contribute to India’s global competitiveness and facilitate the commitment to climate-friendly development. These measures, coupled with tax reforms and incentives, create a strong foundation for sustainable growth in India’s electronics ecosystem.

Mr. Ashok Rajpal – Managing Director – Ambrane India
“The government’s reduction in import duties on key components in the electronics sector, coupled with the attractive PLI scheme for the hardware industry, will significantly strengthen production capabilities in India in the short run. Additionally, with the planned roadmap focusing on long-term growth, including substantial investments in semiconductor manufacturing and the launch of the National Manufacturing Mission, we are optimistic about the future of the manufacturing sector in India.”

Mr. Imran Kagalwala, Co-Founder at UNIX India
“The Union Budget 2025 sends a strong message about the central role of MSMEs in driving India’s electronics manufacturing sector. By prioritizing MSME growth, the government is laying the foundation for a more resilient domestic production ecosystem. While the anticipated anti-dumping duty on final products like mobile accessories was not introduced, revisions in Basic Customs Duty (BCD) on raw materials are expected to strengthen the domestic supply chain and reduce import dependency.
A key highlight is the government’s commitment to fostering innovation and supporting both private-sector R&D and MSMEs. To further enable growth, investment and turnover limits for MSME classification have been increased by 2.5 times and 2 times, respectively, improving access to capital and mitigating technology obsolescence. Additionally, the National Manufacturing Mission, aligned with the Make in India initiative, is set to accelerate local production, enhance competitiveness, and position India as a strong player in global electronics manufacturing. Together, these measures signal a forward-looking approach that promotes sustained growth, technological advancement, and a more self-reliant electronics industry in India.”

Mr. CP Khandelwal, CEO, PR Innovation, Brand Custodian of Amazfit India
“The Budget 2025’s tech-forward policies signal India’s ambition to dominate the global electronics value chain. Eliminating BCD on open cell components for displays isn’t just a tariff tweak—it’s a strategic unlock. By making India a cost-competitive hub for advanced display manufacturing, we’re poised to cut reliance on imports for LCD/LED panels, which currently account for 80% of the $7 billion display market. This will catalyze local R&D in next-gen technologies like OLED and MicroLED, critical for smartphones, wearables, and smart TVs.
Equally transformative is the lithium-ion battery push. Adding 28 capital goods for mobile batteries will fast-track domestic cell manufacturing, addressing a critical gap where India imports 90% of its lithium-ion needs. For the wearables and smartphone ecosystem, this means shorter supply chains, faster innovation cycles, and sustainable cost efficiencies. India’s future will be driven by innovation, self-reliance, and a bold vision to lead the global tech revolution.”

Mr. Ritesh Goenka, Managing Director of Damson Technologies.
“Finance Minister Nirmala Sitharaman’s announcement of the National Manufacturing Mission in the 2025 Union Budget is a commendable step towards strengthening India’s manufacturing sector. By providing policy support and a structured framework, this mission is poised to enhance domestic production and self-reliance, aligning seamlessly with our objectives at Damson Technologies.
The emphasis on Micro, Small, and Medium Enterprises (MSMEs) as pivotal growth engines, responsible for 45% of India’s exports, is particularly encouraging. The introduction of customized credit cards for micro-enterprises and the enhancement of classification limits for MSMEs will undoubtedly facilitate greater financial inclusion and operational expansion.
Damson Technologies is a leading OEM and manufacturer of computer peripherals, accessories, and lifestyle products. Our flagship brand, JUST CORSECA, embodies innovation and quality. With a ₹200 crore investment, our state-of-the-art Ahmedabad facility produces high-quality audio systems and smart accessories, reducing import dependence and meeting domestic demand.
The government’s focus on clean technology manufacturing and attracting investments across various sectors resonates with our vision of integrating advanced innovations, including AI-powered products and app-based controls, into our offerings.
We are optimistic that these budgetary measures will nurture a more robust manufacturing ecosystem, enabling companies like ours to thrive and contribute significantly to India’s economic growth and global competitiveness.”

Mr. Pradeep Bakshi, MD & CEO, Voltas Limited
“Budget 2025-26 will provide an impetus for growth across sectors, that will help the economy revive at an accelerated rate. The measures introduced by the Finance Minister in Budget 2025 will not only support domestic capacity creation but also boost infrastructure, generating both growth and employment across industries. At Voltas, we are excited about the government’s vision for India’s economic future, especially as we stand on the brink of transformative reforms across key domains such as taxation, power, urban development, mining, and financial sectors. The past decade has showcased our country’s robust growth and commitment to structural reforms, drawing global attention and confidence in India’s potential.
We see the next five years as a unique opportunity to realize ‘Sabka Vikas,’ fostering balanced growth across all regions. The establishment of a National Manufacturing Mission aligns perfectly with our ‘Make in India’ initiative, ensuring that we provide the necessary policy support and frameworks for industries of all sizes. As India moves forward, our commitment to supporting domestic industries, embracing digital advancements, and fostering climate-friendly growth remains unwavering. We are proud to contribute to this mission and look forward to playing an integral role in India’s journey to becoming a global manufacturing hub.
Moreover, the proposed taxation reforms will strengthen the purchasing power of the middle class, enhancing financial flexibility and driving consumer demand. The focus on skilling through National Centres of Excellence will equip our youth with vital skills for a competitive global market. Together, these initiatives will boost our growth potential and solidify India’s position as a leader in the global economy.”

Mr. Aarush Dhawan, Co-founder-SERVIZ
“I found the budget promising; however, greater emphasis on strengthening the consumer durables sector in FY 2025-26 would have been beneficial. Reducing taxes and offering subsidies on electronics and home appliances could not only boost consumer demand but also create a ripple effect across the entire ecosystem-spanning Tier 1 and Tier 2 cities while accelerating growth in emerging Tier 3 and Tier 4 markets. Such measures would drive employment generation, expand after-sales service opportunities, and contribute to overall economic growth. By implementing targeted incentives, the government can foster sustainable industry development, benefiting both businesses and consumers.”

Mr. Kishan Jain, Director at Goldmedal Electricals
“We strongly support the government’s renewed focus on manufacturing through the National Manufacturing Mission. Strengthening domestic capacities, integrating with global supply chains, and fostering Industry 4.0 will advance the ‘Make in India’ vision. Support for the domestic electronics industry and proposed tax changes will enhance ease of doing business. Higher tax exemptions will put more money in consumers’ hands, driving demand and growth. The budget’s transformative reforms, especially in power and regulatory frameworks, will boost competitiveness. This is a win for domestic production and a greener, self-reliant India, setting the foundation for a stronger future.”

Mr. Ujjwal Sarin, Founder – Nu Republic
“The Union Budget’s National Manufacturing Mission is a pivotal step in strengthening ‘Make in India’ through policy support and clean tech innovation. With a strong focus on domestic manufacturing of solar PV cells, EV batteries, and high-voltage equipment, India is set to lead in sustainable technology.
Addressing the inverted duty structure, the increase in customs duty on interactive flat panel displays will boost local production and investment in advanced display technologies. Additionally, the establishment of five National Centers of Excellence for Skilling and a ₹500 crore AI Centre of Excellence in education will bridge the industry-academia gap, fostering a future-ready workforce.
These initiatives reinforce India’s path to becoming a global leader in advanced manufacturing and digital innovation. We welcome these efforts and look forward to collaborating with stakeholders to drive technological self-reliance and growth.”

Mr. Raman Bhatia, Founder & MD, Servotech Renewable Power System Ltd.
“I wholeheartedly welcome the forward-thinking Budget 2025 presented by Finance Minister Nirmala Sitharaman. The focus on incentivizing electricity distribution reforms and augmenting transmission capacity is a crucial step towards strengthening the power sector, which is fundamental for the growth of renewables and EVs. The practical approach of allowing additional borrowing for states contingent on these reforms is commendable. The inclusion of 35 additional capital goods for EV battery manufacturing is a significant boost to domestic lithium-ion battery production, a critical component for the EV sector. The proposed National Manufacturing Mission, with its focus on “Make in India” and clean tech manufacturing, including solar PV cells, EV batteries, and other key components, signals a strong commitment to sustainable industrial development. I particularly appreciate the emphasis on improving domestic value addition and building our ecosystem for these crucial technologies. The substantial allocation for private sector-driven R&D and innovation is another welcome move that will further accelerate progress. Overall, these budget announcements create a favorable environment for businesses like ours, operating in the renewable energy, EV, and manufacturing sectors, and will contribute significantly to India’s clean energy transition and economic growth. I thank Finance Minister Nirmala Sitharaman for her vision and commitment to these critical sectors.”

Mr. Niranjan Nayak, MD, Delta Electronics India
“The Union Budget 2025-26 lays down a strong foundation for India to transition towards becoming a sustainable, technology-driven, and self-reliant economy. The emphasis of the government on green energy, EV infrastructure, AI-led innovation, and digital transformation closely resonates with Delta’s aim to deliver energy-efficient, smart solutions that power the future.
This would place India on further accelerated net-zero emission paths and spur technological leadership for the country simultaneously. Higher penetration of clean mobility will be facilitated through investments in modernising smart grids and EV charging infrastructure.
Delta is placed to help since it leads the market for an EV charging and power solution. The PLI incentives for R&D and manufacturing under the scheme will further cement India’s position as a world manufacturing hub.
Delta continues to utilize its prowess in industrial automation, power electronics, and smart infrastructure for contribution to the development of India. We are hopeful that together with industry stakeholders and policymakers, these budgetary allocations will take on a shape where the vision is turned into an actual path leading to a sustainable, digitally empowered, and future-ready India.”

Mr. Prashant Vashishtha, Chairman and Managing Director of Sokudo Electric India
“The Budget 2025-26 is a significant step toward strengthening India’s startup ecosystem and accelerating the growth of the electric vehicle industry. The government’s emphasis on clean-tech manufacturing, deep-tech funding, and expanding the Credit Guarantee Scheme is a strong signal of its commitment to fostering innovation and self-reliance.
For EV startups like Sokudo Electric, the push for domestic battery production and the development of a robust infrastructure are much-needed moves. These initiatives will not only reduce our dependence on imports but also create a more sustainable and efficient supply chain. The focus on ease of doing business, through measures like the Jan Vishwas Bill 2.0 and streamlined regulatory frameworks, will make it easier for startups to scale, attract investments, and contribute to India’s economic growth.
What’s also encouraging is the government’s proactive approach to supporting MSMEs and new-age businesses with better access to funding, tax reforms, and financial incentives. This is exactly the kind of backing that young companies need to innovate and expand.
At Sokudo Electric, we are excited about the opportunities this budget creates for the EV industry. With the right policies and a strong manufacturing ecosystem, India is well on its way to becoming a global leader in electric mobility. The future of sustainable transportation looks brighter than ever.”

Mr. A. Gururaj, Managing Director, Optiemus Electronics
“The Union budget has rightfully given impetus osn boosting the purchasing power of a large population with Tax relaxation and support to Agriculture and farming community. We firmly believe that with more money in hands farmers’ capability to adopt new technologies like Drones significantly improves and helps grow the market faster. For electronics manufacturing, the relaxation in Basic Custom duties for certain components is a positive step and a continuation of earlier policy initiatives and will boost indigenous manufacturing. We welcome the union budget in letter and spirit as both developments positively impact the Optiemus Group. We look forward to continuing to support the growth of our economy with our efforts.”

Mr. Bodhisattwa Sanghapriya, founder and CEO of IG Drones
“The Union Budget 2025-26 delivers a significant boost to deep-tech innovation, AI, and indigenous manufacturing, reinforcing the government’s vision for Atmanirbhar Bharat and Make in India. The ₹20,000 crore allocation for private sector-driven R&D and the Deep Tech Fund of Funds will accelerate advancements in AI-powered drone technology, enhancing applications in surveillance, infrastructure, disaster management, and precision agriculture. A key highlight is the expansion of credit guarantee cover, which will provide much-needed financial support to startups and MSMEs. The increase in guarantee cover from ₹5 crore to ₹10 crore for MSMEs and from ₹10 crore to ₹20 crore for startups will unlock additional credit worth ₹1.5 lakh crore over the next five years. This move is crucial for small and mid-sized drone manufacturers, helping them scale operations and compete in the global market. Additionally, enhanced credit support for exporter MSMEs will strengthen India’s drone export potential, positioning the country as a key player in the global UAV industry. While these initiatives are commendable, a structured roadmap integrating drone technology into agriculture and mining would unlock further potential. A dedicated Production-Linked Incentive (PLI) scheme for drone manufacturing and export-friendly policies would further strengthen India’s position as a global drone technology leader. We look forward to leveraging these policy measures to scale innovation and drive impact across critical sectors.”

Mr. Shivam Narang, Managing Director, Khalsa E-Vehicle Pvt. Ltd
“The Union Budget 2025 laid a strong foundation for India’s EV future. By fostering domestic manufacturing, easing battery costs, and promoting clean technology, the government has set the stage for long-term, sustainable growth. The focus on grid-scale batteries will help stabilise the renewable energy grid, ensuring that EVs can be powered by clean energy sources.
The exemption of basic customs duty on lithium-ion battery scrap is another commendable move. It promotes a circular economy by making battery recycling more viable, reducing reliance on fresh raw material imports, and decreasing production costs and environmental impact.
However, to ensure widespread EV adoption, further policy interventions around charging networks, financing models, and end-user incentives will be crucial. If these aspects are addressed in parallel, India has the potential to become a global leader in EV innovation and clean mobility solutions.”

Ms. Madhumita Agrawal, Founder & CEO of Oben Electric
The Union Budget 2025 is well balanced, in terms of supporting India’s aspirations of emerging as a global hub for tech and innovation, while supporting MSMEs – the nation’s backbone, and creating more job opportunities for the nation’s youth. Investments in Clean Tech will certainly give a boost to the EV sector. Exemption of basic customs duty on Cobalt Powder and lithium-ion battery waste, and including 35 additional capital goods for EV manufacturing, will give a significant push to indigenous manufacturing. This will not only ensure easy availability crucial, also boosting domestic manufacturing and creating more job opportunities for the nation’s youth. At the same time, the budget also has key provisions for boosting the next wave of entrepreneurship in the nation, including the New Fund of Funds with a fresh contribution of INR 10,000 crore is a welcomed move, following the funding winter & dry spells that entrepreneurs had to endure in the previous year. Easing credit access to MSMEs is also a crucial move and will lead to better tech upgradation and more employment avenues for the nation’s youth. At Oben, we commend these key developments in the Union Budget 2025 and stay committed to helping India’s move towards sustainability and clean energy.

Mr. Akash Sinha, CEO and Co-founder, Cashfree Payments
“The Union Budget marks a decisive step toward positioning India as a global leader in innovation, with a clear focus on startups, technology, and progressive regulations. The launch of a new ‘Fund of Funds’ will energise the startup ecosystem, enabling creation of the next wave of tech and deep-tech ventures. Also, the introduction of a revamped central KYC system will drive greater transparency and trust within the financial ecosystem. Establishing a Digital Public Infrastructure for international trade will simplify cross-border financing, enhancing India’s role as a key player in global commerce. These initiatives will boost India’s fintech growth and strengthen its role in the digital economy.”

Mr. Anand Kabra, Vice Chairman and MD, GEON
“The announcement of a National Manufacturing Mission focused on clean tech manufacturing marks a pivotal moment for India’s sustainable industrial future. As a company deeply invested in green energy solutions and advanced battery technology, GEON welcomes this strategic policy support that will strengthen domestic manufacturing capabilities in EV batteries. The mission aims to improve domestic value addition and build our ecosystem for EV batteries, motors and controllers, electrolysers, wind turbines, very high voltage transmission equipment, and grid-scale batteries.
The Government’s commitment to bolstering the renewable energy ecosystem will accelerate India’s transition to sustainable energy and create a robust framework for innovation. This policy support will be transformative for India’s industrial landscape, helping manufacturers reduce operational costs while advancing their sustainability goals. The focus on grid-scale batteries is particularly significant, as it will play a crucial role in stabilizing and expanding India’s clean energy infrastructure. At GEON, we look forward to contributing our expertise and working alongside the Government to realize the vision of a cleaner, more sustainable industrial landscape in India.”

Mr. Naveeth Menon, VP – Sales & Marketing Operations, BAXY Mobility
“The recent budget announcements have marked a significant step forward in India’s journey towards a cleaner and greener future. By eliminating the basic customs duty on critical materials required for electric vehicle manufacturing, the government has reinforced its commitment to faster EV adoption across the country.
The budget also introduced groundbreaking initiatives to accelerate the shift toward lithium-ion batteries in the EV sector. Tax exemptions for lithium-ion battery manufacturing are set to enhance local production capabilities, positioning India as a global hub for EV manufacturing. The move aligns with India’s broader goals of reducing carbon emissions and achieving energy independence.”
Covered By: Mobility India / Union Budget
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