Mumbai: The Union Budget 2025 is set to enhance ease of doing business, workforce skilling, and manufacturing competitiveness through key investments in maritime infrastructure, domestic air connectivity, dedicated rail freight corridors (DFCs), and large-scale port modernization, according to Rizwan Soomar, Chief Executive Officer and Managing Director, DP World Middle East North Africa and India Subcontinent.
Soomar highlighted the government’s commitment to inland water transport through the tonnage tax scheme, which will provide a more sustainable and cost-effective mode of cargo movement. He also emphasized the impact of Bharat Trade Net, which aims to simplify trade documentation and optimize supply chains through data-driven decision-making.
“The INR 25,000 crore Maritime Development Fund will enhance financial stability and competitiveness for Indigenous shipbuilding and other infrastructure projects, encouraging private investments. The extension of Basic Customs Duty (BCD) exemption for raw materials in shipbuilding and shipbreaking is a significant step, reducing dependency on imports,” he noted.
Soomar welcomed the streamlining of export compliance procedures and customs duty reforms, stating that these measures will help lower manufacturing costs and boost India’s global competitiveness. The National Manufacturing Mission further reinforces the government’s goal of creating a resilient domestic production ecosystem, generating employment opportunities and fostering economic growth.
Additionally, he lauded the decision to share PM Gati Shakti data with private companies, calling it a strategic move to drive investment and efficiency in infrastructure development. “Access to comprehensive project data will enable better planning and execution, fostering growth across sectors,” he said.
Summarizing the impact of the Budget, Soomar stated, “The Union Budget 2025 takes a decisive step toward transitioning from ‘Make in India’ to ‘Make in India for the World,’ leveraging infrastructure expansion, policy reforms, and human capital to create a more resilient, efficient, and competitive India.”
This budget, with its strong emphasis on policy reforms, trade facilitation, and infrastructure expansion, is expected to accelerate economic growth and position India as a key global manufacturing hub.
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