Mr Amit Jain, CEO and Co-Founder, CarDekho Group on Union Budget 2025-26

New Delhi / Jaipur, 3^rd February 2025 Speaking on the budget announcements, Mr Amit Jain, CEO and Co-Founder, CarDekho Group said, “We extend our heartfelt congratulations to the Hon’ble Finance Minister for presenting a landmark Union Budget 2025-26 that exemplifies a bold and forward-thinking vision for sustainable growth and a Viksit Bharat. This budget not only charts a clear path toward long-term prosperity but also introduces several key initiatives that are poised to drive growth across various sectors, particularly in the automotive industry.

First and foremost, the changes in tax slabs under the new tax regime are expected to significantly boost consumer demand, thereby enhancing the purchasing power of individuals. This shift will undoubtedly have a positive impact on overall auto sales in India, stimulating growth in the sector.

The Budget’s special focus on the electric vehicle (EV) ecosystem is a noteworthy step towards advancing sustainable mobility. The inclusion of 35 additional capital goods for EV battery manufacturing under the exemption list is a game-changer. Additionally, the exemption of scrap materials such as lithium-ion batteries, lead, zinc, and 12 other critical minerals will further accelerate the growth of the e-mobility sector.

This forward-looking approach to clean technologies, particularly in EV batteries, will not only foster innovation but also attract investments. It lays a solid foundation for a greener, more resilient future by enhancing domestic EV production and strengthening critical elements of the value chain—especially in battery development and manufacturing. We believe these initiatives will have a long-term positive impact on the auto sector, enabling India to emerge as a global leader in electric mobility.

The Budget’s focus on nuclear energy as a clean energy source is another pivotal step in India’s transition to a sustainable future. This move will not only support the mobility sector but will also benefit the broader energy sector, providing long-term advantages in powering India’s growth with cleaner, more efficient energy solutions.

Moreover, the additional credit support extended to MSMEs, Start-ups, and the farming community will drive innovation, empower local businesses, and contribute to economic growth across sectors. By strengthening the foundation for entrepreneurship and economic resilience, the Budget paves the way for a self-reliant and technology-driven future for India.

In conclusion, this Union Budget sets a visionary framework for growth, innovation, and sustainability, positioning India to lead in both the global auto sector and clean energy transition. It is a defining moment that will shape the future of our economy and bharat 2.0.”