The Union Budget 2025-26 has been widely welcomed by industry leaders, particularly for its transformative impact on the electric mobility and start-up ecosystems. Key highlights include the exemption of basic customs duty (BCD) on 35 capital goods critical for EV battery manufacturing and tax exemptions on essential materials like lithium and cobalt, significantly lowering production costs and promoting local supply chains.
The budget also emphasised boosting the MSME sector through increased credit access and skill development, alongside measures supporting startups, gig workers and cleantech manufacturing. Investments in infrastructure, public-private partnerships and tax relief for the middle class are expected to stimulate consumer spending and economic growth.
Overall, the budget is seen as a strong step toward making India a global leader in sustainable mobility, innovation and self-reliant manufacturing.
Partner and Automotive Tax Leader at EY India Saurabh Agarwal noted, “The proposed income tax cuts could boost the middle class's spending power, potentially increasing demand for two-wheelers, three-wheelers, and small cars. Further, the government's commitment to fostering a sustainable automotive ecosystem is clearly demonstrated through its strategic initiatives, which are poised to deliver substantial benefits to the EV industry. The budget astutely emphasizes the complete exemption of Basic Customs Duty (BCD) on cobalt powder and waste, scrap of lithium-ion battery, lead, zinc, zirconium, copper, etc. These pivotal measures are designed to ensure a reliable domestic supply of essential critical minerals for manufacturing and to stimulate job creation across India.”
The Central Government has significantly increased budgetary allocations with PME E-Drive receiving INR 40 billion, auto PLI being bolstered by INR 22.18 billion and advanced chemistry cell PLI benefiting from an infusion of INR 1.55 billion. 
Commenting on the newly introduced budget, Mercedes-Benz India Managing Director Santosh Iyer said, “India has long been regarded as a niche garden with high fences; however, this budget is expected not only to enrich the garden by stimulating consumption and strengthening MSME sector, but also lowering the fences through tariff rationalisation and adoption of international practices on transfer pricing, with a clear commitment to enhanced global trade integration. This will send a strong positive signal to the industry, reinforcing confidence in the ‘India Growth Story’, paving the way for sustained investment and future expansion. The announcement of setting up of National Manufacturing Mission’s for clean technology manufacturing and support to domestic EV battery manufacturing is a positive step towards strengthening EV ecosystem. We also welcome the setting up of a high-level committee to evaluate regulatory reforms which will enhance ease of doing business in long term.”
Volkswagen India Brand Director Ashish Gupta, averred, “The Union Budget presents a forward-thinking roadmap for strengthening India’s manufacturing ecosystem with a clear emphasis on clean technology, skill development and infrastructure growth. By prioritizing these areas, along with manufacturing, India is advancing toward a circular economy—where investments, innovation, and sustainable practices drive long-term growth. Infrastructure growth through public-private partnerships and capital expenditure incentives will pave the way for India to become a globally competitive manufacturing hub.” 
Commercial vehicle players have also lauded the budget. Ashok Leyland Executive Chairman Dheeraj Hinduja noted, “The finance minister has presented a clear, growth-driven budget that aligns with the Prime Minister’s vision of fostering a competitive and resilient India with inclusive growth by investing in people, economy and innovation. Additionally, the government's strong commitment to green mobility is expected to create new avenues for innovation and growth across the country.”
Daimler India Commercial Vehicles Managing Director Satyakam Arya iterated, “The Union Budget 2025-26 will be a game changer for India and the mobility sector, helping us become a global leader in EV manufacturing and sustainable transportation. The emphasis on localising battery production will create technological advancements and generate more jobs. Also, with mining identified as one of the six domain areas for transformative reforms and the introduction of the State Mining Index, we see major growth potential for the sector in the coming years.”
EKA Mobility Chairman Sudhir Mehta said, “These different programmes demonstrate a strong commitment to sustainability, innovation and greater industrial competitiveness, setting the framework for transformative progress in a variety of critical sectors. The nation's energy revolution will be dependent on funding for small modular reactors and the government's target of 100 gigawatts of nuclear power by 2047. Long-term growth can be solidified by financial agreements that allow governments to expand their borrowing capacity, as well as indirect taxation initiatives targeted at increasing domestic value creation.” 
Two-wheeler industry
In a move to avoid protectionist signals, the government has reduced import duties on high-end motorcycles. This decision aligns with India's commitment to lowering trade barriers and could influence the premium motorcycle segment.
With electric mobility remaining the focus point of the automotive sector, the budget has made pivotal efforts for bolstering manufacturing. Drawing on that, companies operating in the EV two-wheeler space has welcomed the developments with open arms. 
Kolkata-based Motovolt Mobility Founder Tushar Choudhary said, “"The recent budget has delivered a promising outlook for India’s electric vehicle industry, especially with the reduction in BCD on capital goods related to EV manufacturing. This move will help lower production costs, making EVs more affordable for consumers and encouraging higher sales. Aligned with the National Manufacturing Mission, the budget’s focus on rationalising customs tariffs signals the government's intent to localize high-value production and reduce dependency on imports. Additionally, the exemption on critical minerals like lithium is a significant step toward easing the supply of vital components for EV batteries, further lowering costs and boosting domestic manufacturing. Efforts to localize EV components like batteries, motors and controllers will help reduce upfront costs which would further strengthen India’s EV Ecosystem giving the EV sector the ability to penetrate the Indian markets.”
Chennai-based high performance EV two-wheeler manufacturer Raptee HV’s Co-founder Dinesh Arjun said, “The Finance Minister’s focus on nurturing and investing in innovation is a commendable step toward accelerating new technologies that will shape our future. The allocation of a Deep Tech Fund will further strengthen India’s industrial ecosystem, fostering a globally competitive, tech-driven economy.”
Drawing on the same lines, Revamp Moto Chief Executive Officer Pritesh Mahajan said, “"The National Manufacturing Mission’s support for clean tech manufacturing is a game-changer for India's sustainable future. I firmly believe that this initiative will accelerate the growth of domestic EV battery and solar panel production, reducing our reliance on imports while strengthening India's position as a global leader in green technology. The additional INR 100 billion investment underscores the government’s commitment to fostering innovation, job creation and energy security.”
Welcoming the budget, Odysse Electric Founder Nemin Vora said, “We appreciate the Union Budget 2025, which underscores the government's commitment to fostering economic growth and empowering citizens. The adoption of progressive policies, particularly within the existing tax framework, is a key step in enhancing disposable income and driving consumer spending. This decision will significantly impact consumer-driven sectors, especially the two-wheeler industry. With more disposable income in the hands of consumers—particularly the middle class—purchasing power is set to rise. As a result, more individuals will be encouraged to invest in personal mobility solutions like two-wheelers.”
Associates talk
The boost towards electric mobility is also poised to impact the entire ecosystem. DriveX Founder Narain Karthikeyan noted, “The 2025 Budget is a strong step towards inclusive economic growth, bringing significant benefits across all sections of society. The increase in MSME turnover limits, along with enhanced credit access and intensive skill-development programmes will fuel entrepreneurship, business expansion and youth employment. We also welcome the government’s recognition of the gig economy, with steps to regularise support for gig workers and improve their access to credit facilities. With enhanced credit guarantee cover for MSMEs and startups, particularly in focus sectors crucial for Atmanirbhar Bharat, the budget lays a strong foundation for sustained growth and economic resilience.”
Commenting on the same lines, Taabi Mobility Limited Chief Executive Officer Pali Tripathi said, “The transformation of India Post into a large-scale logistics network, along with greater accessibility to PM Gati Shakti data for the private sector, will significantly enhance connectivity, particularly in hinterland regions. These initiatives will drive smarter freight management, optimise last-mile delivery, and make transportation more seamless and sustainable.”
On the aggregator front Rapido Chief Financial Officer Vivek Krishna said, “The Union Budget 2025-26 has proposed a review of both financial and non-financial sector regulations that are expected to help businesses perform better with lesser compliances. It reflects a bold vision for Viksit Bharat, one that empowers the gig economy, promotes sustainable mobility, and catalyses digital innovation. We welcome the social security scheme and healthcare support announced for gig workers. The e-shram portal registration and the PM Jan Arogya Yojana will be a game-changer in prioritising the well-being of gig workers, including our captains. It’s also encouraging to see the government’s effort in promoting green mobility by incentivising local EV component manufacturing.” 
Alluding to how the manufacturing push will bolster the electric mobility segment, Kinetic Engineering Managing Director Ajinkya Firodia said, “These steps noted in budget will significantly enhance India’s position as a global hub for electric mobility and clean energy technologies. In addition, the focus on expanding charging infrastructure, incentivising electric buses for public transport and ramping up domestic battery production marks a decisive move in India’s EV revolution. The continued subsidies under the FAME scheme will make EVs more affordable and accessible to consumers. This strong policy push not only paves the way for rapid adoption of EVs but will also create jobs, reduce dependence on fossil fuels and position India as a global leader in sustainable transportation.”
Drawing on the same lines, Tata Technologies Managing Director Warren Harris said, “The establishment of five National Centres of Excellence for Skilling is a pivotal move in building a future-ready workforce. This initiative resonates with our commitment to engineering a better future for India's youth through investment in in-demand training programs across Industry 4.0, IoT, and advanced manufacturing and collaborating with state governments to upgrade ITIs into technology hubs.”
TapFin Co-founder Aditya Singh said, “The budget’s emphasis on cleantech manufacturing, including incentives for electric vehicle batteries and the additional 10 GW support for grid-scale batteries, signals a significant shift for India’s electric mobility sector. Strengthening domestic production will foster innovation, reduce dependence on imports, and open new growth opportunities.”

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Vietnamese electric vehicle company VinFast, part of Vingroup, is further accelerating its India business plans by strengthening its leadership team.

In fact, VinFast India, which is set to expand its product offerings in the country by introducing electric two-wheelers later this year, has appointed Vineet Srivastava as the Deputy CEO for its e-scooter business.

Srivastava, a sales strategy veteran, joins the Vietnamese company from Honda Motorcycle & Scooter India, where he led enterprise-wide verticals, including Sales Strategy & Planning, Institutional Sales and Retail Finance.

In his over 15-years of relationship with Honda Motorcycle & Scooter India, he was instrumental in onboarding 894 Authorised Secondary Networks and mobilised over INR 2.7 billion in funding for the company.  

Prior to that, he has worked with Kotak Mahindra Old Life Insurance Company, SBI Life Insurance Company and ICICI Prudential Life Insurance Company.

He holds a Bachelor's Degree in Commerce. In his new role, Srivastava will be tasked with developing VinFast India’s e-scooter network, business development, sales operations, promotion and market planning.

While VinFast India currently sells electric passenger vehicles, it is set to introduce electric scooters like its globally popular offerings the Evo, Feliz and Viper.

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Uber has appointed Arpit Tyagi as the Head of Advertising for its Indian operations to further scale its advertising business and expand partnerships with brands, agencies and marketers within the region.

Tyagi will lead the commercial strategy and operations for Uber Advertising in India. He will oversee a dedicated India-based team tasked with developing solutions that allow brands to engage consumers during ‘high-intent, real-world moments’ on the Uber platform.

He brings over 15 years of experience in advertising, media and marketing technology to the role. The executive has extensive experience in retail media, data-driven marketing, and customer-centric innovation at Amazon Ads and he most recently served as Director of Enterprise Sales at The Trade Desk, where he managed strategic partnerships with major Indian advertisers and agencies.

Michael Levine, Head of APAC Sales, Uber Advertising, said, “India is one of the most dynamic and exciting advertising markets in the world, and Uber is uniquely positioned to help brands connect with consumers at moments that matter. Arpit brings a strong understanding of the evolving advertising ecosystem and a proven track record of building high-performing businesses.”

Uber Advertising operates in over 35 markets globally. In India, the business has seen growth across sectors such as CPG, media and entertainment, technology, e-commerce, and retail. To date, the platform has partnered with over 200 brands and agencies in the region.

Tyagi said, “Uber sits at the intersection of people's everyday movements and decisions, creating unique opportunities for brands to engage audiences in highly contextual and measurable ways. I'm excited to join Uber at such a pivotal moment and look forward to working with our partners to help them achieve their business objectives through innovative advertising solutions.”

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Honda India Foundation (HIF) has provided 26 emergency response vehicles to the Udaipur Police to assist with patrol and mobility across the district.

The handover includes 25 Honda Shine 100 motorcycles, modified with emergency signalling systems, public address equipment, flashlights, storage units and safety gear. Furthermore, it has provided a Honda Elevate C-SUV, also outfitted for police requirements.

The vehicles are intended for use in tourist zones, urban centres and areas where manoeuvrability is necessary for police operations. This follows a previous contribution of 25 vehicles provided in February 2026 to support the Udaipur Police Tourist Patrolling Team.

The flag-off ceremony was attended by officials including Gulab Chand Kataria, Governor of Punjab and Administrator of Chandigarh; Gaurav Agrawal, District Collector; Gaurav Srivastava, Inspector General of Police, Udaipur Range; Dr. Amrita Duhan, Superintendent of Police, Udaipur and Rajeev Taneja, Operating Officer, Honda India Foundation.

Gulab Chand Kataria said, “Udaipur is an important centre of public and tourist activity, and this effort will further strengthen our Police Patrolling Team to support public safety across the district. I appreciate Honda India Foundation for this meaningful contribution. Their continued engagement in such collaborative efforts contributes to strengthening public service delivery at the local level.”

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Fleet Management Limited has marked the International Day of the Seafarer by issuing a renewed call for the global community to acknowledge the often-overlooked civilian professionals who underpin international trade. The maritime services provider simultaneously introduced a new digital tool, named Pulse, aimed at delivering continuous and practical assistance to crew members while at sea.

In light of recent diplomatic efforts to stabilise regions such as the Strait of Hormuz, Fleet Management has voiced its support for multilateral actions designed to address the systemic vulnerabilities faced by merchant mariners. The company has highlighted a persistent pattern where civilian seafarers are disproportionately exposed to geopolitical tensions. The stance aligns with the International Maritime Organization's 2026 theme, which underscores the dual reality of seafarers carrying global trade while shouldering significant operational risks.

Since February, an estimated 20,000 civilian seafarers have navigated volatile maritime zones, with roughly 600 of those individuals under Fleet Management's direct supervision. The firm assesses any resumption of transit on a vessel-by-vessel basis, utilising specific risk matrices to ensure that every manoeuvre is deliberate and grounded in stringent safety standards. Support mechanisms under the Fleet Care programme include 24/7 mental health services and wellness initiatives, while the fleet maintains industry-leading insurance coverage for personnel both on duty and during leave.

The newly launched Pulse application is described as a digital lifeline designed to simplify administrative processes and consolidate essential documents for the company's 27,000 seafarers. Beyond reducing bureaucratic burdens, the platform offers uninterrupted access to critical health resources, ensuring that crew members remain connected to the Fleet Care network regardless of location. This technological advancement represents a significant evolution in the company's strategy to deliver consistent, everyday assistance to its global maritime community.

Complementing these operational enhancements, Fleet Management has initiated global advocacy campaigns this week to increase public awareness of seafarers' contributions. Targeted family outreach programmes have been conducted through crewing offices in India, the Philippines and China, alongside community activities and multi-city public campaigns.

These efforts are reinforced by substantial training investments, with the company issuing over 80,000 certificates annually and training 500 cadets each year at the International Maritime Institute to ensure a resilient and proficient workforce.

Dr Harry Banga, Founder and Executive Chairman of The Caravel Group and Fleet Management Limited, said, "Countries, industries and communities rely on seafarers to keep essential goods flowing. Waterways like the Strait of Hormuz are key arteries of the global economy. When disrupted, the impact is immediate. Costs rise. Supply chains tighten. Today is a reminder that the industry and governments must act decisively to uphold safe and free navigation, so seafarers can sail with confidence."

Captain Rajalingam Subramaniam, Chief Executive Officer of Fleet Management Limited, said, "As a company, and as an industry, we have a responsibility to speak up. Seafarers are civilians who carry responsibility in the face of risk and adversity, in conditions beyond their control. This must not become the new normal. They must be seen, heard and properly protected. We are encouraged by the IMO-led evacuation efforts underway to restore safe transit and hope confidence will soon rebuild."

Angad Banga, Chief Executive Officer of The Caravel Group and Executive Director of Fleet Management Limited, said, "Recognition has to translate into action. Not once a year, but every day. That means understanding the pressures our seafarers operate under and responding with consistent, practical support. At Fleet, this shows up in the decisions we make and the systems we build to support our crews."

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