As the Union Budget 2025 approaches, startups, MSMEs, and key industry players are eagerly awaiting reforms that could drive growth, ease business operations, and enhance digital transformation. Finance Minister Nirmala Sitharaman’s upcoming budget announcement on February 1, 2025, is expected to address pressing concerns related to taxation, regulatory frameworks, and sustainability incentives.
Startups and MSMEs Seek Tax Relief and Growth Support
Startups and MSMEs form the backbone of India’s economy, and their expectations from Budget 2025 center around tax relief, simplified compliance, and increased access to funding. The sector is looking for streamlined GST norms, reduced corporate tax rates for small businesses, and incentives for tech-driven enterprises. Entrepreneurs also hope for an extension of the Startup India initiative, with additional funding pools and incubation support to encourage innovation.
Sustainability-focused industries, particularly in clean energy, electric mobility, and green infrastructure, are advocating for tax breaks and government subsidies to promote eco-friendly business practices. With India aiming for net-zero emissions by 2070, targeted incentives could accelerate the adoption of sustainable technologies across industries.
Beyond business reforms, the middle class anticipates higher income tax exemptions, adjustments in tax slabs, and increased deductions on home loans and investments to support personal savings and consumption.
Crypto Industry’s Race for WazirX Users
The Indian crypto industry has been abuzz following the cyberattack on WazirX in July 2024, which resulted in the loss of over $230 million worth of digital assets. As WazirX prepares to reopen, competing crypto exchanges have launched aggressive campaigns to attract its users.
CoinSwitch recently unveiled a ₹600 crore initiative—CoinSwitch Care—to help WazirX users recover their losses through signup rewards, revenue redistribution, and referral incentives. However, these benefits will only be activated after WazirX resumes operations.
Meanwhile, Mumbai-based CoinDCX, which had previously hinted at a WazirX acquisition, has pivoted to an alternative strategy. Instead of a buyout, CoinDCX has committed ₹50 crore toward developing India’s first homegrown digital asset custody solution, Bharat Custody, aiming to provide enhanced security for crypto investors.
The government’s stance on crypto regulations will also be a key focus in Budget 2025. The industry is seeking clarity on taxation, compliance frameworks, and a possible reduction in the 30% tax on digital asset gains, which many argue has hindered market participation.
Luxury Jewellery and Women Entrepreneurs Making Their Mark
In the luxury jewellery segment, women entrepreneurs are redefining the industry with unique, bespoke offerings. Rituu Jhaveri, founder of Rowa’s Jewels, has built a brand that caters to high-net-worth individuals looking for personalized, high-quality craftsmanship.
Founded in 2016 under Rosette India, Rowa’s Jewels stands apart in a market dominated by legacy brands by offering an intimate and customized experience. From handcrafted engagement rings to tailor-made necklaces, the brand positions itself as a counterculture to mass-market jewellery.
Despite the challenges of operating in a traditionally male-dominated industry, Jhaveri believes that inclusivity in leadership roles is steadily increasing. The rise of women-led luxury brands highlights the evolving dynamics of the Indian jewellery market, where exclusivity and artistry are driving consumer choices.
Budget 2025: Key Takeaways for Businesses and Investors
As India gears up for the Union Budget 2025, businesses and investors are looking for policy changes that support economic expansion, innovation, and financial inclusivity. Whether it’s tax reforms for startups, sustainability incentives for green businesses, regulatory clarity for crypto firms, or growth opportunities for luxury brands, the upcoming budget could shape the trajectory of India’s entrepreneurial landscape.
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