The upcoming Union Budget should look at rationalisation of duties on EVs, greater support for localising EV technology and sustained support for multiple green pathways in the automotive segment, according to industry leaders.
The Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2026-27 on Feb. 1.
"Looking ahead, we anticipate that the forthcoming Union Budget will foster the next phase of development by prioritising impactful reforms aimed at enhancing the ease of doing business, deepening manufacturing localisation, and advancing workforce skills in line with rapid technological advancements," Toyota Kirloskar Motor Executive Vice President - Corporate Affairs and Governance - Vikram Gulati said in a statement.
Furthermore, the company urged the government to maintain its focus on infrastructure development and continue its sustained support for multiple green energy pathways to achieve India's long-term goals of energy security and net-zero emissions, he added.
JSW MG Motor India MD Anurag Mehrotra said the automaker anticipates enablers for continued investment in infrastructure, as the logistics industry continues to contribute significantly to the GDP.
"On the electric mobility front, we expect the government to further strengthen consumer-led incentives and schemes to accelerate EV adoption. Rationalisation of duties on EV components would be a welcome move, along with greater support for localisation of EV manufacturing," he added.
While the charging network has expanded, there is still considerable progress to be made, Mehrotra stated.
"We would greatly appreciate strong fiscal support for the expansion of charging infrastructure," he added.
JK Tyre & Industries Chairman & Managing Director Raghupati Singhania said that for the automotive and tyre sectors, policy continuity that enhances affordability and supports rural incomes can sustain demand and create strong multiplier effects across the economy.
"A forward-looking, investment-led Budget will play a key role in accelerating India's manufacturing growth and reinforcing investor confidence," he added.
Singhania said the tyre maker is optimistic about a renewed emphasis on meaningful ease of doing business, particularly through faster approvals and more streamlined regulatory processes that can unlock private investment.
Continued focus on quality infrastructure and logistics will be critical in strengthening India's cost competitiveness and manufacturing efficiency, he added.
"In the context of evolving global trade challenges, policy measures that support exports and deepen India's integration into global supply chains will be increasingly important," Singhania stated.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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