"Today's budget, presented by the Honorable Finance Minister, introduces several initiatives aimed at driving economic growth. We appreciate the government’s focus on increasing disposable income through revised income tax slabs, which will inject more liquidity into the market. This move is expected to boost the consumption of FMCG, including packaged products, creating a ripple effect that benefits the packaging industry. Packaging, which is essential for preserving the quality and freshness of these goods, may see increased demand for innovative and sustainable solutions
While the budget has taken several positive steps, additional support in key areas could have further accelerated industry growth. For instance, tax incentives for eco-friendly materials, subsidies for advanced recycling units, and stronger incentives for meeting Extended Producer Responsibility (EPR) targets would have significantly boosted the transition toward sustainability. Additionally, encouraging investments in recycling infrastructure through CSR provisions, interest subvention for loans, and increased funding for R&D in sustainable packaging could have provided a much-needed push for the sector.
As we move forward, we remain committed to collaborating with the government and industry stakeholders to drive innovation and sustainability in the packaging industry."
