Bengaluru : Toyota Kirloskar Motor has expressed strong support for the Union Budget 2025-26, praising its emphasis on key reforms aimed at fostering holistic development and strengthening India’s manufacturing capabilities.

Mr. Vikram Gulati, Country Head and Executive Vice President – Corporate Affairs and Governance at Toyota Kirloskar Motor, welcomed the government’s focus on infrastructure development, fiscal discipline, and rationalising taxation. He noted that the substantial increase in capital expenditure underscores the government's commitment to modernising infrastructure, which is crucial for accelerating growth across industries, including the automotive sector.

"The enhanced allocation for capital expenditure reflects the government's long-term strategy to modernise infrastructure. This will be a game-changer for various sectors, particularly automotive, by improving competitiveness," Gulati stated.

He further highlighted the impact of income tax measures and the PM Dhan Dhanya Krishi Yojana, which, according to Gulati, will significantly benefit the common man. "These initiatives are poised to enhance consumption and create demand, driving faster economic growth," he added.

Toyota also praised the continued strong support for Micro, Small, and Medium Enterprises (MSMEs), with a special focus on labour-intensive sectors and first-time entrepreneurs. Gulati emphasised that this approach would stimulate innovation and growth, aligning with India’s goal of becoming a manufacturing hub.

Additionally, the budget’s provision for 35 additional capital goods for Electric Vehicle (EV) battery manufacturing was seen as a crucial step towards reducing India’s dependency on imports. "Localising lithium-ion battery production will not only support energy security but also accelerate clean technology adoption, contributing to India’s Carbon Neutrality targets for 2070," Gulati remarked.

Toyota Kirloskar Motor reaffirmed its commitment to supporting the government’s vision of a self-reliant, sustainable, and globally competitive automotive industry. "We remain dedicated to advancing clean energy technologies, investing in local manufacturing, and supporting India’s ‘Viksit Bharat’ vision through skilling and innovation," Gulati concluded.