The Union Budget 2025 has set a strong foundation for India’s clean energy transition, infrastructure growth, and manufacturing self-sufficiency. With key allocations for renewable energy, electric vehicles, energy storage, and power sector reforms, the budget underscores the government’s commitment to achieving its 500 GW renewable energy target by 2030 and fostering domestic manufacturing under the ‘Make in India’ initiative. Industry leaders from various sectors, including solar energy, energy storage, and infrastructure, have shared their insights on how these policies will shape the future of India’s energy landscape, economic growth, and technological innovation.
Below are post-budget reactions from prominent business leaders and experts highlighting the budget’s impact on infrastructure investment, clean energy initiatives, and India’s path toward self-reliance.
Mr. Sameer Gupta, Chairman, Jakson Group: “The recent budgetary focus on escalating infrastructure investment, particularly through the allotment of ₹1.5 lakh crore for state capital expenditure, underscores a strategic move towards strengthening India’s core sectors. The commitment of ₹10 lakh crore for new projects under the Asset Monetization Plan 2025-30 promises significant enhancements in energy and infrastructure capabilities. Additionally, the emphasis on renewable sectors with initiatives in solar energy and biofuels aligns with industry needs for sustainable development. The new manufacturing mission under Make in India is a defining step toward building India’s self-sufficiency in solar, hydrogen, and storage technologies. By fostering an integrated ecosystem, we are not just reducing import dependence but creating a foundation for India to lead the global clean energy revolution.”
Mr. N.P. Ramesh, COO & Co-Founder, Orb Energy: “With the 2025 budget announcement, Finance Minister Nirmala Sitharaman has set a clear path for India’s clean tech revolution. The National Manufacturing Mission aims to accelerate domestic production of solar cells/panels and EV storage batteries, ensuring that India not only strengthens its ‘Make in India’ vision but also becomes a key player in global supply chains. The reduction of BCD on lithium batteries is a welcome step, as storage is crucial for increased adoption of renewable energy. The focus on Industry 4.0 opens up exciting opportunities for our youth to lead the charge in innovation, creating a sustainable and energy-efficient future for generations to come.”
Tanmoy Duari, CEO, AXITEC Energy India Pvt. Ltd.: “AXITEC applauds the Union Budget 2025-26 for its visionary support of India’s clean energy transition, particularly through the National Manufacturing Mission aimed at boosting local production in key sectors like solar energy and electric vehicles. The government’s commitment to fostering a robust ecosystem for manufacturing EV batteries, solar PV cells, electrolyzers, and grid-scale batteries is a crucial step toward strengthening India’s energy security while supporting sustainable growth. The announcement of a Nuclear Energy Mission, with a dedicated ₹20,000 crore outlay for research and development of Small Modular Reactors (SMRs), reflects a forward-thinking approach to meeting India’s energy needs and accelerating its transition to clean, reliable power.”
Neerav Nanavaty, CEO, BluPine Energy: “The budget lays out a bold and pragmatic roadmap for India’s clean energy future. The focus on boosting domestic manufacturing of EV batteries, solar panels, and other clean tech components will strengthen our supply chains and reduce import dependencies. Power sector reforms, particularly incentives for distribution companies and intra-state transmission upgrades, will further improve grid efficiency and financial viability. The Nuclear Energy Mission, with its ambitious 100 GW target and support for Small Modular Reactors, shows a strong commitment to diversifying the country’s energy mix. These initiatives not only complement our current efforts but also open new avenues for growth.”
Dr. Miniya Chatterji, CEO, Sustain Labs Paris: “The Union Budget 2025 marks a good step towards a greener and more self-reliant India. By prioritizing domestic production of solar PV cells, wind turbine generators, and other clean energy technologies under the National Manufacturing Mission, India is moving toward self-reliance and climate resilience. The push towards sustainable farming practices with Prime Minister Krishi Yojana has the potential to mitigate India’s environmental challenges. The target of 100 GW nuclear energy by 2047 under the Nuclear Energy Mission will further accelerate the country’s transition to net zero. This budget lays the groundwork for a more resilient India by promoting sustainable economic growth and self-sufficiency.”
Mr. Praveen Kakulte, CEO, Powercon Group: “The Budget 2025 marks a crucial turning point in advancing India’s clean energy goals. The strong focus on capacity building through the National Centers of Excellence for Skilling is vital to equipping the nation with the specialized skills needed to build advanced power plants and optimize energy extraction. This commitment will play a key role in achieving India’s Clean Power target of 500 GW by 2030 while maintaining cost efficiency.”
AK Tyagi, Founder, Chairman & Managing Director, Nuberg Engineering Ltd.: “The ambitious Nuclear Energy Mission (100 GW by 2047) and the 500 GW renewable energy goal by 2030 reinforce India’s green future. Increased incentives for green energy, MSME solarization, and domestic manufacturing will boost industries and job creation. The budget’s emphasis on hydrogen as a clean fuel aligns with India’s energy strategy. Support for green hydrogen production, industrial decarbonization, and ammonia-based solutions will drive innovation and sustainability.”
Mr. Aniruddh Aggarwal, Chief Strategy Officer, Airox: “The announcement of the National Manufacturing Mission and the exemption of customs duties on lithium-ion battery manufacturing mark a transformative step for India’s clean energy sector. Expanding domestic manufacturing of EV batteries, electrolyzers, and solar PV cells strengthens the nation’s self-reliance in sustainable energy solutions. This policy will accelerate the adoption of green hydrogen and renewable energy while fostering innovation in battery storage and transmission infrastructure.”
Mr. Dhiman Roy, CEO and Director, GreenH Electrolysis Pvt. Ltd.: “The support for clean tech manufacturing, including domestic manufacturing of electrolyzers under the National Manufacturing Mission, is a positive step for India’s energy transition. The easing of import duties on critical minerals is expected to boost the manufacturing sector and create job opportunities. While the industry hoped for subsidies and mandates for green hydrogen in blending & purchase obligations, we remain confident in its value for India’s clean energy landscape.”
Mr. Shekhar Singal, Managing Director, Eastman Auto & Power Ltd.: “The Union Budget 2025 significantly advances India’s renewable energy sector with the launch of the Clean Tech Mission, focusing on Solar PV, EVs, and Batteries. The National Manufacturing Mission underscores the government’s dedication to strengthening ‘Make in India’ and achieving energy independence. The reduction in BCD for solar cells and modules prioritizes scaling up domestic manufacturing capacities, while capital expenditure incentives for lithium battery production will stimulate growth and job creation.”
The latest budget has elicited a range of responses from industry leaders, highlighting both optimism and concerns regarding its impact on their respective sectors. This analysis aims to interpret the key themes emerging from these reactions, assessing their implications for economic growth, industry-specific advancements, and broader policy trends.
The budget’s push for EV adoption through tax incentives and subsidies has been appreciated, with industry executives highlighting how this will boost domestic manufacturing and supply chains. The inclusion of incentives for lithium-ion battery production is seen as a strategic move to reduce import dependency. However, concerns remain regarding infrastructure readiness, particularly in the expansion of charging networks. Some industry veterans have called for a more aggressive policy approach to accelerate EV adoption beyond metropolitan regions.
Key figures in the solar sector have praised the government’s focus on utility-scale solar projects and rooftop solar expansion. Increased funding for research and development in solar module manufacturing is expected to bolster India’s self-reliance. Yet, some industry players argue that more incentives for domestic manufacturers are required to counter global competition, particularly from China.
Despite the positive outlook, several leaders have voiced concerns over the budget’s execution strategy. While policies and financial outlays are promising, regulatory hurdles and bureaucratic inefficiencies could delay projects. A common theme across sectors is the need for streamlined approval processes and enhanced public-private collaboration to ensure that the budget’s proposals translate into tangible results. The Union Budget 2025 presents a transformative roadmap for India’s clean energy sector, prioritizing domestic manufacturing, power sector reforms, and infrastructure development. Industry leaders have expressed strong optimism about the government’s commitment to making India a self-reliant hub for clean technology. With a clear policy framework in place, the budget is poised to drive economic growth, technological advancements, and a sustainable energy future for the nation.
