9NOVEMBER 2025NIRMALA SITHARAMAN MEETS ECONOMISTS AHEAD OF UNION BUDGET 2026-27SHARAD MALHOTRA BECOMES FIRST INDIAN MD OF NIPPON PAINTUnionMinisterforFinanceandCorporateAffairsNirmalaSitharamanonFridaystartedpre-BudgetconsultationsinNewDelhi.ShebeginsworkontheUnionBudget26-27.Themeetingincludedtopeconomistswhowillgivetheirthoughtsonmacroeconomicpriorities,fiscalstrategies,anddevelopmentsineconomicandpolicyprocessesforthenextfinancialyear.ThemeetinghadtheSecretaryoftheNipponPaintHoldings'NIPSEAGrouponMondayannouncedtheappointmentofSharadMalhotraasManagingDirectorofNipponPaintIndia,fromDecember1,2025.ThisappointmentissignificantasMalhotrawillbethefirstIndianMDinNipponPaint'shistory.HewillsucceedJonTanandreportdirectlytoWeeSiewKim,GroupCEOandco-PresidentofNipponPaintHoldings.DepartmentofEconomicAffairs(DEA),theChiefEconomicAdvisor,andseniorofficialsfromtheMinistryofFinance.Thediscussionscoveredfiscalstabilityandsupportforgrowth,balancedbetweenkeysectors.Economistsexpressedtheiropinionsonbalancingcapitalexpenditures,controllinginflation,andraisingrevenueswhilegettingtheeconomybackonasustainablegrowthpath.Duringtheday,Sitharamaninteractedwithfarmersandfarmersassociationsaspartoftheconsultations.Theseconsultationsemphasizedthecentralityofenhancingincomeinruralhouseholdsandimprovingagriculturalproductivitythroughtargetedpolicyinterventions.Thepre-BudgetconsultationsisavitalpartoftheannualfinancialmanagementsystemoftheGovernmentandprovidesanopportunityfortheFinanceMinistrytotakesuggestionsfromvarioussectionsofsocietyontheBudget-includingeconomists,entrepreneurs,andthosewhoworkinvarioussectorsoftheeconomybeforefinalizingtheBudget.Thisexerciseseekstoincorporatepolicysuggestionsthatwillgalvanizelong-termeconomicgrowthwithoutjeopardizingfiscalpolicy.TheconsultationsaretheprecursortotheUnionBudget2026-27,whichwillbepresentedinParliamentearlynextyearandwillclarifytheGovernment'seconomicintentionsforthecomingfiscalyear.MalhotrawillberesponsibleforleadingthestrategicplanandgrowthdirectionforNipponPaint'sbusinessacrossIndia,whichisseenbythecompanyasakeymarketforfuturebusinessexpansion."Sharadhassuccessfullyledandchartedastronggrowthpathforourautorefinishesbusinessglobally,whilebeingbasedinIndia.Hisprovenabilitytodeliverresults, deep understanding of our business andcommitmenttoexcellencemakehimideallysuitedtoleadourIndiaoperationsthroughthenextphaseofgrowth,"NipponPaintHoldingsCo-PresidentGroupCEO,NIPSEAGroup,WeeSiewKimsaid.Inaddition,thecompanystatedthatSharadMalhotrawillcontinuetoleaditsglobalautomotiveaftermarketbusinesswhichhebuiltfromthegroundup.Hisleadershiphelpedtobuilditsglobalsuccessintheautorefinishsegment.NipponPaintishighlightedinitsimportanceofIndiaduetoitsyoungpopulation,emergingeconomyandexpandinginfrastructurewhichcontributetoitbeingakeymarket.Duetoafavorablebusinessenvironmentandaskilledworkforce,NipponPainthopestodeepenitslongtermcommitmentandinvestmentinIndia.
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