Official Budget Reaction from Toyota Kirloskar Motor as attributed to Mr. Vikram Gulati, Country Head and Executive Vice President – Corporate Affairs and Governance – Toyota Kirloskar Motor
Gujarat, Ahmedabad 02nd February 2025: “Toyota Kirloskar Motor commends the Union Budget 2025-26 for its focus on reforms, infrastructure development, reinforcing fiscal discipline, rationalising taxation, and fostering domestic manufacturing – all aimed at driving holistic development.
The increased allocation for capital expenditure demonstrates the government’s persistent commitment towards infrastructure modernisation, a crucial factor in accelerating growth across industries and improving their competitiveness including automotive sector.
Lowering of taxation through Income Tax measures and the PM Dhan Dhanya Krishi Yojana for the farming community will significantly benefit the common man, enhance consumption and create demand leading to faster economic growth.
Continued and strong support to MSMEs, with special focus on labour-intensive sectors and first-time entrepreneurs will spur innovation and growth, aligning well with India’s ambition of becoming a manufacturing major.
Further, the inclusion of 35 additional capital goods for EV battery manufacturing is an important step towards localizing lithium-ion battery production which will help in lowering import dependency, and further strengthening India’s energy security goals. This will not only accelerate clean technology adoption but also create a robust supply chain supporting India’s Carbon Neutrality goals for 2070.
At Toyota Kirloskar Motor, we stand firmly with the government’s vision of a self-reliant, sustainable, and globally competitive automotive industry. Our unwavering commitment to advancing clean energy technologies, deepening investments in local manufacturing, skilling and contributing to India’s ‘Viksit Bharat’ vision reflects our dedication to driving economic growth while upholding environmental responsibility.”
