Mr. Haresh Karamchandani, MD & Group CEO, HyFun Foods

“As a pioneer in the export of frozen potato products from India, we recognize the vast opportunities presented by food processing – a sunrise sector. We believe the upcoming budget can be a turning point by focusing on three key aspects:

First, capital investments through measures such as long tax holidays for new capex above a particular threshold and export-linked incentives that make products competitive vis-a-vis larger manufacturing economies. Larger processing units benefit from economies of scale, making products globally competitive and boosting foreign exchange earnings.

Second, this sector has the potential to be a significant employment generator. Subsidies linked to additional job creation can accelerate labor absorption and improve livelihoods for many.

Finally, increasing domestic consumption by lowering taxes for the middle and upper-middle classes will stimulate demand and drive further economic growth.

We are optimistic that the budget will acknowledge these priorities and provide the support needed for sunrise sectors like the food processing sector to thrive and become a major driver of growth for India.”