By Dhaval Radia, Chief Financial Officer, ZEISS India

As we look ahead to the upcoming Union Budget, there is strong expectation around further rationalisation of customs duties, particularly for the core growth sectors such as healthcare and high-end and precision manufacturing. Addressing inverted duty structures and ensuring a more predictable import framework and simplified governance framework will be critical for improving cost competitiveness and long-term investment planning and predictability. 

Equally important is continued progress on ease of doing business through fewer licenses, permits, and discretionary approvals for non-sensitive, technology-intensive imports. For advanced manufacturing, speed, certainty, and regulatory simplicity matter as much as incentives. A Budget that enables seamless access to global components, faster clearances, and stable policy signals will go a long way in strengthening India’s ambition to emerge as a global hub for high-value, technology-led manufacturing. 

Clear policy support for Global Capability Centres focused on high – value work such as Engineering, Digital Computing, Deep Tech, AI, Finance Transformation, and R&D – including rationalised transfer pricing rates and governance, simplified compliance, radically improving physical infrastructure specifically in GCC hotspots, and targeted incentives. Progress on the proposed India – EU free trade agreement, particularly with Germany, would be a strong enabler for technology-led manufacturing, smoother trade flows, and deeper industrial collaboration.