Vadodara Industry Leaders Hail Union Budget's Pro-Manufacturing Stance
Industry leaders in Vadodara warmly welcomed the Union Budget presented on Sunday, commending its sustained focus on driving economic growth through manufacturing. The budget has been lauded for its strategic initiatives aimed at bolstering the Micro, Small, and Medium Enterprises (MSME) sector, which is seen as a critical component of India's industrial landscape.
Recognition of MSME Ecosystem's Vital Role
Sameer Khera, President of the Federation of Gujarat Industries (FGI), emphasized that the budget acknowledges the foundational importance of MSMEs in building a global manufacturing powerhouse. "The budget recognises that a global manufacturing powerhouse is only as strong as its MSME ecosystem," Khera stated. He highlighted that fresh capital infusions into the Self-Reliant India (SRI) Fund indicate a shift beyond mere protectionist measures, enabling MSMEs to enhance their technical capabilities and evolve from local vendors to integral partners in global value chains.
VCCI Applauds Pro-Manufacturing Provisions
The Vadodara Chambers of Commerce and Industry (VCCI) also expressed strong support for the budget's pro-manufacturing provisions. VCCI officials pointed out that the proposed Rs 10,000 crore growth fund for MSMEs is a significant step that will provide substantial benefits to the sector. This fund is expected to facilitate innovation, scalability, and competitiveness among small and medium enterprises, thereby contributing to overall economic resilience.
Industry stakeholders in Vadodara believe that these measures will not only strengthen the local manufacturing base but also position India more firmly in the global market. The budget's emphasis on upgrading technical infrastructure and fostering partnerships in international supply chains is seen as a forward-looking approach to sustainable industrial development.
