Start-ups are also demanding continued tax exemptions and the removal of angel taxes so as to attract more funding
NEW DELHI, Jan 16 (The CONNECT) – The F&B sector, which has been brawling with inflating operational & input costs, is looking forward a reduction in GST on dining services along with a tax alleviation on sustainability packaging could be of crucial assistance.
Here are some comments from the industry
Simranjeet Singh, Director, CYK Hospitalities: The upcoming Union Budget 2025 is quite expected to have reforms for innovation. For start-ups and food and beverage (F&B) sectors, there is also great hope for simplified taxation, namely GST rate cuts on small eateries and essentials-those will ease financial stress.
A very strong push has been made towards subsidies on packaging that preserve the environment so that food becomes scarce, aligning it to the perceptions of global sustainability.
Increased budgetary support to food processing facilities might as well drive off multiple rural jobs and boost exports.
Start-ups are also demanding continued tax exemptions and the removal of angel taxes so as to attract more funding. Investments into Tier 2 and Tier 3 cities will benefit from policy environments that promote digital ecosystems to stimulate innovation, especially in agri-tech, health-tech and green-tech.
Nidhi Singh, Co-Founder, Samosa Singh: Being an F&B brand dedicated to prioritizing quality and innovation, we look forward to the Union Budget 2025 reforms that may vicariously fuel the growth of startups pertaining to the former.
Swiftly approved policies that would potentially simplify taxation, and promote sustainable business practices can act as promoters for escalating startups like ours.
F&B sector being in the focus, stimuli for local sourcing, reduced taxes on essential supplies, facilitated support for cold-chain infrastructure, can result in significantly impacting operational efficiency and product quality in the constructive manner.
We hope that this budget would make provisions for a far more resilient and thriving startup ecosystem, and be the breath of prerequisite fresh air.”
Vikesh Shah, Founder, 99 Pancakes: At 99 Pancakes, we are committed to redefining the QSR dining experience and we are hopeful about the Union Budget 2025 to address key grown enablers for our F&B Industry. This sector has been brawling with inflating operational & input costs. With a reduction in GST on dining services along with a tax alleviation on sustainability packaging could be of crucial assistance.
Scalability & Market Expansion could be the necessary impact driven from adopting advanced kitchen technologies leading to operational efficiency.
Such robust measures accredit brands like ours to continue striving towards innovation, amplifying customer experience & contributing to our country’s economic momentum.
