Union Budget Key to Advancing Viksit Bharat Through Tech-Led Manufacturing and Engineering
By Parag Satpute, MD & Group CEO, Greaves Cotton Limited
“Through the ambitious Viksit Bharat mission, the government’s vision to transform India into a developed nation by 2047 is no longer a distant aspiration but a strategic roadmap being executed today.
As we look toward the Union Budget, continued and targeted policy support will be the essential driver to accelerate technology-led manufacturing and deepen India’s advanced engineering capabilities. By evolving frameworks like the Production Linked Incentive (PLI) schemes and introducing dedicated Engineering R&D tax offsets, the government can effectively de-risk the industry’s transition to high-tech, precision production.
Strategic, long-term policy consistency is vital to attract the capital required for Industry 4.0 integration, robotics, and AI-driven automation. By strengthening infrastructure and export competitiveness through these focused measures, companies can scale innovation rapidly, building the globally competitive edge necessary to lead the next era of high-quality, future-ready industrial growth.”