Experts Weigh In on SME Growth Strategies for Budget 2025

In anticipation of the Union Budget 2025, industry experts are calling for strategic measures to bolster the growth of small and medium enterprises (SMEs). Key recommendations include promoting AI adoption and expanding credit access, alongside tax benefits for businesses embracing emerging technologies. The creation of dedicated manufacturing zones is also on the agenda to stimulate sector growth.

Nitin Jain, co-founder of OfBusiness Group, emphasizes the necessity for SMEs to integrate AI and digital tools to enhance productivity and maintain competitiveness. "The government should introduce tax benefits and subsidies to support this shift," Jain stated, highlighting the importance of policy support for SMEs, which contribute 30-35% to GDP and employ over 110 million people.

Dinesh Yadav, founder and managing director of Fine Acers, anticipates significant policy reforms in the real estate and hospitality sectors. "Streamlining licensing and compliance processes would be instrumental in attracting substantial investments," Yadav remarked, pointing out the current challenges of complex licensing requirements and high taxes that deter investment in capital-intensive projects.

As the budget approaches, the focus is on strategic interventions that can drive transformation, including digital upskilling, financial literacy, and AI-driven training programs to prepare SMEs for the future industrial landscape.