Revolutionizing India's Economic Future: Bold Budget Reforms Urged

A US-India business group proposes bold reforms for India's Union Budget 2025-26 to attract investments and elevate India as a global economic power. Key recommendations include simplifying tax structures, supporting GIFT City, and incentivizing renewable energy and electric vehicle sectors to ensure sustainable growth amidst global challenges.

Ahead of India's Union Budget 2025-26, a US-India business advocacy group has put forth recommendations for transformative reforms to attract fresh investments and elevate India's global economic standing.

The US-India Strategic Partnership Forum (USISPF) offers a comprehensive blueprint for reforms aimed at transparency and reducing complexities. The proposals include simplifying the tax regime, supporting sectors with transformative potential, and positioning GIFT City as a global financial hub, according to chairperson Tarun Bajaj.

The group's recommendations also emphasize aligning tax rates for foreign investments, expanding Safe Harbor Regulations, and providing incentives for renewable energy and electric vehicles. These measures aim to bolster investor confidence, stimulate job creation, and innovate technologically, aligning with global standards while ensuring equitable access to resources like healthcare.

(With inputs from agencies.)