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PTI, Jan 29, 2025, 5:34 PM IST
New Delhi: Tax benefits to adopt emerging technologies like AI, announcement to set up dedicated manufacturing zones, and expanding credit guarantee schemes in the Budget will help boost the growth of SMEs, experts say.
They also said that AI-based credit assessments and risk profiling can streamline loan approvals and widen credit access for SMEs (small and medium enterprises).
Nitin Jain, Co-Founder and Chief Business Officer of Business Group said that enterprises need to integrate AI, automation, and digital tools to enhance productivity and competitiveness.
“The government should introduce tax benefits and subsidies to support this shift,” Jain said adding establishing dedicated manufacturing zones with modern infrastructure, seamless supply chains, and shared resources will enable SMEs to scale efficiently.
He added that SMEs, which contribute 30-35 per cent to GDP and employ over 110 million people, need robust policy support to scale manufacturing and access affordable credit and the upcoming budget presents a great opportunity to drive this transformation through strategic interventions.
“Investing in digital upskilling, financial literacy, and AI-driven training programs will prepare SMEs for the evolving industrial landscape, ensuring a sustainable talent pipeline,” Jain said.
Dinesh Yadav, Founder and Managing Director, Fine Acers, said that in the Budget 2025, the real estate and hospitality sectors are hopeful for policy reforms that could significantly shape future investment landscapes.
“Streamlining licensing and compliance processes would be instrumental in attracting substantial investments,” Yadav said.
Currently, he said, the sector is encumbered by complex licensing requirements, multiple approvals, and high taxes, making hospitality investments less appealing—particularly for capital-intensive projects with long gestation periods.
“A move towards single-window clearances would simplify business operations, reduce costs, and minimize delays,” Yadav added.
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