Program on Implications of Union Budget 2025-26

World Trade Center (WTC) Mumbai and the All India Association of Industries (AIAI) organized an interactive discussion on the Implications of Union Budget 2025-26 to raise awareness about key tax and non-tax measures impacting trade and industry on February 4, 2025.

Senior Counsel Mr. Firoze B. Andhyarujina elaborated on tax exemptions for individuals earning up to Rs. 12 lakh and amendments in TDS/TCS provisions, with decriminalization of certain tax offenses. He also highlighted relief measures like unconditional tax exemption on two housing units and incentives for maritime, agriculture, health, and education sectors.

Mr. M.S. Mani, Partner at Deloitte India, emphasized simplification of the customs duty structure, reduction in duty slabs, and measures to improve cross-border trade. He noted positive reforms in GST compliance but recommended a phased inclusion of petroleum products under GST.

Mr. Siddhartha Rastogi, MD, Ambit Asset Management, highlighted increased government spending, tax cuts to boost consumption, and enhanced credit for MSMEs. Infrastructure development, particularly in logistics and maritime sectors, was noted as a budget priority.

Dr. Vijay Kalantri, Chairman, WTC Mumbai  praised the budget for supporting MSMEs, startups, and key industries without imposing additional tax burdens, citing strong tax revenue growth as an enabler for rate cuts.

Capt. Somesh Batra, Vice Chairman, WTC Mumbai, concluded with a vote of thanks, advocating for stronger shipbuilding capabilities and improved ease of doing business to attract foreign investment.

The event saw active participation from industry leaders, financial experts, and academia.

In Photo: (From left to right): Capt. Somesh Batra, Vice Chairman, WTC Mumbai; Ms. Rupa Naik, Executive Director, WTC Mumbai; Dr. Vijay Kalantri, Chairman, WTC Mumbai; Mr. Firoze B. Andhyarujina, Senior Counsel; Ms. Aakruti Bagwe, Director- Operations, WTC Mumbai; Ms. Priya Pansare, Director- Trade Promotion, WTC Mumbai and Mr. Siddhartha Rastogi, Managing Director, Ambit Asset Management.