Indian Business Community in Dubai Praises 2025 Union Budget’s Vision & Reforms

By  News On Air   Feb 01, 2025

Indian business leaders in Dubai have offered a strong endorsement of India’s 2025 Union Budget, highlighting its strategic focus on long-term growth and comprehensive development across multiple sectors.

Sahitya Chaturvedi, Secretary General of the Indian Business and Professional Council Dubai, said, “This budget aligns well with India’s 2047 vision of Vikisit Bharat while setting significant objectives for 2030. The government’s focus on agriculture, SMEs, and middle-class consumers is commendable. he said, from my vantage point in Dubai, I see strong potential for Indian exports in West Asia, particularly in electronics, textiles, beauty products, organic goods, and handloom crafts, which appeal to the diaspora. The emphasis on district-specific production and local goods continues to support the growth of domestic industries, he added.

Jai Prakash Agarwal, Vice Chairman of the Institute of Chartered Accountants of India (Dubai Chapter), said, the new FDI policies in the insurance sector are a significant step toward increasing insurance penetration from the current 4% to match global standards of 6-7% of GDP. Additionally, he said, the increase in the tax exemption limit to 12 lakhs is a welcome move,  the long-term gains through boosted consumption and investment will positively impact the economy.

The Indian business community in the UAE expressed confidence in the budget’s role in advancing India toward its ambitious goal of achieving a ₹47 trillion economy by 2047, characterizing it as a comprehensive and forward-looking financial plan that addresses both immediate needs and long-term strategic objectives.