Kapuria highlighted that the budget’s emphasis on agriculture is expected to uplift farmers' income, consequently driving rural demand. "A stronger agricultural sector will have a ripple effect on the entire economy, enhancing consumption and market growth," he noted.
The budget also outlines provisions to improve credit availability and support clean technology manufacturing in the MSME sector. This is crucial, Kapuria pointed out, as MSMEs contribute nearly 45% of India's merchandise exports. "These initiatives are fundamental in ensuring the sector remains competitive and continues to be a key driver of India’s trade and employment," he said.
Further, the government’s proposed Export Promotion Mission is set to ease access to export credit, facilitate cross-border factoring support, and assist MSMEs in overcoming non-tariff barriers in international markets.
Additionally, the introduction of a digital public infrastructure platform, 'BharatTradeNet', aims to streamline international trade by serving as a unified hub for trade documentation and financing solutions. This initiative will align with the Unified Logistics Interface Platform (ULIP) to further enhance efficiency in logistics and trade operations.
"This budget is structured to accelerate economic growth, promote inclusive development, and energize private sector investments," Kapuria asserted, emphasizing its long-term impact on India's trade and business ecosystem.
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