9NOVEMBER 2025NIRMALA SITHARAMAN MEETS ECONOMISTS AHEAD OF UNION BUDGET 2026-27SHARAD MALHOTRA BECOMES FIRST INDIAN MD OF NIPPON PAINTUnion Minister for Finance and Corporate Affairs Nirmala Sitharaman on Friday started pre-Budget consultations in New Delhi. She begins work on the Union Budget 26-27.The meeting included top economists who will give their thoughts on macroeconomic priorities, fiscal strategies, and developments in economic and policy processes for the next financial year. The meeting had the Secretary of the Nippon Paint Holdings' NIPSEA Group on Monday announced the appointment of Sharad Malhotra as Managing Director of Nippon Paint India, from December 1, 2025.This appointment is significant as Malhotra will be the first Indian MD in Nippon Paint's history. He will succeed Jon Tan and report directly to Wee Siew Kim, Group CEO and co-President of Nippon Paint Holdings.Department of Economic Affairs (DEA), the Chief Economic Advisor, and senior officials from the Ministry of Finance.The discussions covered fiscal stability and support for growth, balanced between key sectors. Economists expressed their opinions on balancing capital expenditures, controlling inflation, and raising revenues while getting the economy back on a sustainable growth path.During the day, Sitharaman interacted with farmers and farmers associations as part of the consultations. These consultations emphasized the centrality of enhancing income in rural households and improving agricultural productivity through targeted policy interventions.The pre-Budget consultations is a vital part of the annual financial management system of the Government and provides an opportunity for the Finance Ministry to take suggestions from various sections of society on the Budget - including economists, entrepreneurs, and those who work in various sectors of the economy before finalizing the Budget. This exercise seeks to incorporate policy suggestions that will galvanize long-term economic growth without jeopardizing fiscal policy.The consultations are the precursor to the Union Budget 2026-27, which will be presented in Parliament early next year and will clarify the Government's economic intentions for the coming fiscal year. Malhotra will be responsible for leading the strategic plan and growth direction for Nippon Paint's business across India, which is seen by the company as a key market for future business expansion."Sharad has successfully led and charted a strong growth path for our auto refinishes business globally, while being based in India. His proven ability to deliver results, deep understanding of our business and commitment to excellence make him ideally suited to lead our India operations through the next phase of growth," Nippon Paint Holdings Co-President Group CEO, NIPSEA Group, Wee Siew Kim said.In addition, the company stated that Sharad Malhotra will continue to lead its global automotive aftermarket business which he built from the ground up. His leadership helped to build its global success in the auto refinish segment.Nippon Paint is highlighted in its importance of India due to its young population, emerging economy and expanding infrastructure which contribute to it being a key market. Due to a favorable business environment and a skilled workforce, Nippon Paint hopes to deepen its long term commitment and investment in India.
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