Besides emphasis on electricity distribution reforms and measures for gig workers, the Budget 2025 puts the spotlight on national manufacturing mission to support clean tech, improve value addition in solar PV modules, electric vehicle batteries, high voltage transmission equipment, wind turbines and grid scale batteries. 
With China controlling much of the clean tech supply chain, the mission will combine with the PLI schemes for solar PV modules and batteries, aiding those in the field of backward integration and operations that are scaling up. 
Further scaling up the reach of ‘Make-in-India’ initiative, the Budget 2025 once again has brought into focus the MSME sector. It has been the worst hit by GST with thousands of units in any given industrial areas in cities like Pimpri-Chinchwad going belly up. Considered to provide employment to up to 70 percent in the manufacturing MSMEs have not only been unable to sustain financially, they have not been able to innovate or invest in advanced machinery/equipment and upskilling the way they should have been. 
They also seem to have lost out on their ability to export or sustain the margin pressures that come with supplying goods to suppliers up the ladder. This has led to many Tier 1  or Tier 2 suppliers and OEMs – particularly in the auto sector which contributes most to GST collection and the manufacturing GDP of the country – to look at sourcing from China by installing either permanently or temporarily their sourcing personnel or agents there. 
Perhaps taking such practices into account, the Budget 2025 has focused on MSME sector in terms of their upliftment as it would in-turn help them to drive employment led innovation, energy supplies and exports. 
The custom duty on Lithium-ion batteries has been reduced and tax has been exempted for cobalt powder. 
On the Income Tax front, the Finance Minister announced in her speech that a New Income Tax Bill will be tabled in the Parliament soon. This bill is expected to exempt tax on income till INR 12,00,000. There will be TDS relief offered to senior citizens. 
Until the New Income Tax Bill in tabled in the Parliament and passed, the old Income Tax regime will continue to be valid. 
 

Image for representative purpose only.

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German luxury car brand Audi India has commenced local assembly of the all-new Audi Q3 at the Skoda Auto Volkswagen India (SAVWIPL) plant in Chhatrapati Sambhajinagar ahead of its official market launch on 16 October 2026.

The model is powered by a 2.0-litre petrol engine and features Audi's quattro all-wheel-drive system, combining standard compact SUV proportions with localised production.

Piyush Arora, MD and CEO, Skoda Auto Volkswagen India, said, “The start of production of the all-new Audi Q3 is an important milestone for our Group in India. It reflects the strong capabilities of our Chhatrapati Sambhajinagar facility and our commitment to supporting the growth of our brands in the country. We are proud to produce the latest Audi Q3 in India, with the same high standards of quality, precision and engineering excellence that define Audi globally.”

Balbir Singh Dhillon, Brand Director, Audi India, said, “Today marks a significant day for us as we begin the start of production and take another important step towards the launch of the all-new Audi Q3. The Audi Q3 has been an important gateway to the Audi brand, and this new generation is set to build on that success with its distinctive design, progressive technology and dynamic character. We see the all-new Audi Q3 as a strong catalyst for the next phase of our growth — helping us reach a broader customer base, strengthen our presence and further build the Audi brand in India.”

Bookings for the all-new Audi Q3 have opened across Audi India's official website, the myAudi Connect mobile application and the brand's dealership network in the country.

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Electric two-wheeler startup Creatara Mobility has inaugurated its initial production facility in Faridabad, Haryana, featuring an installed annual production capacity of 30,000 units. The facility marks the transition from research and development to assembly for the vehicle startup.

Located in the Delhi-NCR, the plant will produce Creatara's IN40 and VM4 electric two-wheeler models for distribution in domestic and export markets. The e-scooter utilise a proprietary platform incorporating an artificial intelligence-ready Vehicle Control Unit alongside portable, swappable battery packs. The manufacturing facility operates using the Japanese 5S organisational method to standardise production processes across assembly, component testing and battery integration.

Vikas Gupta, Founder and CEO, Creatara Mobility, said, "Creatara’s journey has never been about factories first, but about a vision realised step by step. It began with an idea, evolved into a product, proved its potential and achieved certification. Now, that vision is being industrialised and scaled. The path has been deliberate: Build → Validate → Certify → Industrialise → Scale — each stage strengthening the next."

The company first displayed its vehicle prototypes in January 2025 before securing product certifications and establishing supply chain partnerships. Creatara's business model targets young demographics through vehicle customisation options and distinct body designs across its electric crossover segment.

Ringlarei Pamei, Co-Founder, Creatara Mobility, said, "We have built Creatara with disciplined capital. Our focus has never been to spend our way into scale. It has been to create capability at every stage — technology, product, certification, supply chain and now manufacturing. We believe there is tremendous opportunity for companies that can combine ambition with capital discipline and that is the model we want to build at Creatara."

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Garware Hi-Tech Films (GHFL) and specialty chemicals company Lubrizol have signed a Memorandum of Understanding to collaborate on the development and manufacturing of Thermoplastic Polyurethane (TPU) technology in India.

The agreement establishes a dedicated TPU film extrusion platform designed to expand GHFL's product portfolio across automotive, architectural, industrial and electronics sectors, while providing backward integration for its Paint Protection Film (PPF) business.

As part of the understanding, GHFL is committing an investment of approximately INR 1.18 billion toward the platform, with operational commencement targeted for December 2026. Roughly 25 percent of the total capital outlay will be directed toward research, new product development and technological capabilities.

The partnership involves combining Lubrizol's material science and TPU formulations with GHFL's processing and film manufacturing infrastructure. In-house TPU extrusion will supply inputs for GHFL's PPF manufacturing, supporting an expansion in PPF production capacity to over 60 million square feet (LSF). By manufacturing TPU films locally rather than relying on foreign suppliers, the company expects to enhance supply chain control and support an incremental EBITDA margin expansion of 150 to 200 basis points at a consolidated level.

Monika Garware, Joint MD and Vice-Chairperson, Garware Hi-Tech Films, said, “This association marks a significant milestone in GHFL’s journey towards building a globally competitive, technology-led specialty films business. This collaboration gives us the opportunity to develop new, high-value products across multiple specialty applications, while also strengthening our backward integration in PPF. By combining Lubrizol’s world-class TPU technology with GHFL’s engineering and manufacturing capabilities, we aim to accelerate innovation and build differentiated solutions for the Indian and global markets.”

Deepak Joshi, Director of Sales and Marketing, Garware Hi-Tech Films, said, “GHFL’s INR 1.18 billion investment in advanced TPU film extrusion and manufacturing capabilities is expected to be operational by December 2026, together with the expansion of PPF manufacturing capacity to over 600 LSF, marks a significant step in strengthening our technology-driven, value-added portfolio. This will enable us to develop new TPU-based products across PPF and other specialty applications, while providing greater backward integration for our PPF business. With nearly 25 percent of the investment directed towards new product development and technology capabilities, we see TPU as an important foundation for future innovation, faster commercialisation and incremental EBITDA margin improvement in PPF.”

Abhishek Shrivastava, Vice-President and MD, Lubrizol IMEA, said, “India is emerging as a significant hub for advanced manufacturing, supported by growing domestic demand, strong industrial capabilities and an increasing focus on localisation. At Lubrizol, we are committed to enabling this growth through collaboration, innovation and world-class materials science. Our association with Garware reflects a shared vision of advancing high-performance solutions for the Indian market while contributing to a stronger and more competitive specialty materials ecosystem.”

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European automotive major Stellantis India has acquired the remaining equity stake held by Hindustan Motor Finance Corporation, a CK Birla Group company, in Stellantis Automobiles India. The transaction gives Stellantis complete ownership of the entity and its manufacturing facility located in Thiruvallur, Tamil Nadu.

The acquisition was funded through foreign direct investment and consolidates the manufacturing partnership established between Stellantis and the CK Birla Group in 2017.

The vehicle assembly at the Thiruvallur site began in 2021 and the plant currently produces the Citroen C3, e-C3, C3 Aircross and Basalt models. The company claims a localisation level of over 95 percent in its range.

Stellantis has allocated more than EUR 1 billion (approximately INR 110 billion) toward its Indian operations, covering manufacturing, engineering, supplier development and exports.

The automaker plans to increase annual production at the Thiruvallur facility from 16,000 units in 2026 to more than 43,000 units by 2028. The expansion is projected to increase direct site employment from 610 workers in 2026 to more than double that figure by 2028, alongside additional job creation in local supplier and logistics operations. Vehicles assembled at the plant are distributed domestically and exported to eight international markets across four continents.

Shailesh Hazela, CEO and Managing Director, Stellantis India, said, "India remains a key pillar of Stellantis' growth strategy. Having invested close to INR 110 billion in the country to build a strong manufacturing, engineering and export ecosystem, we continue to see significant opportunities ahead. This milestone will enable greater integration and enhance our ability to respond more quickly to customer and market needs."

"As we look ahead, we are committed to driving growth through new product investments, expanded manufacturing capacity, stronger export competitiveness and deeper localisation. India is playing an increasingly important role within Stellantis' global network, and we see significant potential to further scale our operations and contribution to the country's industrial growth," Hazela added.

The buyout removes the joint venture structure, establishing direct operational control for Stellantis to align Indian manufacturing capacity and export distribution with its central corporate operations.

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