Union Budget 2024: Expectations of Southern India Chamber of Commerce and Industry

With the Union Budget 2024-25 around the corner, expectations are running high among various sectors, particularly manufacturing and commerce, as they await crucial policies that will shape India's economic landscape in the coming fiscal year. Members of the Southern India Chamber of Commerce and Industry urge the implementation of labour codes, emphasising that while discussions have taken place, actual implementation is pending. As per members, the Production Linked Incentive (PLI) Scheme, introduced to enhance manufacturing capabilities and boost exports across 14 sectors, is expected to receive renewed attention. Members also feel that another area for government focus is Ease of Doing Business, which facilitates businesses in attracting external investment, ensuring growth, and setting up new industries.