Otis India President Applauds Indian Finance Minister for “Transformative Budget”

Otis India President Sebi Joseph released a statement applauding Indian Finance Minister Nirmala Sitharaman for presenting a “progressive budget accelerating the momentum in the infrastructure sector and for the contribution of affordable housing.” On February 1, Sitharaman said the country’s fiscal deficit for the 2025 financial year will narrow to 5.1% from 5.8% for 2024, while capital expenditures will rise by 11.1% to INR11.11 trillion (US$133.9 billion) in fiscal year 2025, outlets including CNBC reported, observing that new infrastructure such as airports are on the near horizon. “The thrust on building digital public infrastructure along with the three major economic railway corridor programs will enable multimodal connectivity and help grow demand for new elevators,” Joseph said. “Otis India welcomes this transformative budget, recognizing its potential to foster holistic urban development.”