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Budget 2025 Reaction – Quote from Mr. Rizwan Soomar, CEO and MD, DP World Middle East North Africa, and India Subcontinent

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MUMBAI : Mr. Rizwan Soomar, Chief Executive Officer and Managing Director, DP World Middle East North Africa, and India Subcontinent opinion on Budget 2025-26.

“The Union Budget will significantly enhance ease of doing business, workforce skilling and manufacturing competitiveness with its continued focus on development of maritime infrastructure, domestic air connectivity, development of dedicated rail freight corridors (DFCs) and large-scale port modernization. The government’s commitment to inland water transport through the tonnage tax scheme will provide a more sustainable and cost-effective way of cargo movement.

The Bharat Trade Net aimed at simplifying trade documentation and will help optimize supply chains through data-driven decision-making. The INR 25,000 crore Maritime Development Fund will enhance financial stability and competitiveness for Indigenous shipbuilding and other infrastructure projects encouraging private investments. The extension of Basic Customs Duty (BCD) exemption for raw materials in shipbuilding and shipbreaking is a significant step, reducing dependency on imports.

Streamlining export compliance procedures and customs duty reforms indicate a continued commitment to reducing manufacturing costs, making Indian industries more competitive. Targeted sectoral initiatives under the National Manufacturing Mission underscore the government’s ambition to create a resilient domestic production ecosystem. These measures will not only boost exports but also generate employment opportunities.

The decision to share PM Gati Shakti data with private companies is a welcome move that will drive investment and efficiency in infrastructure development. Access to comprehensive project data will enable better planning and execution, fostering growth across sectors.

Overall, the Union Budget 2025 takes a decisive step toward transitioning from ‘Make in India’ to ‘Make in India for the World,’ leveraging infrastructure expansion, policy reforms, and human capital setting the foundation for a more resilient, efficient, and competitive India.” 

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