AHMEDABAD: Mumbai Falcons Racing Limited (MFRL) announced the appointment of star athlete Shreyas Iyer as the official brand ambassador for the F1® Program in India. Held under an agreement granting Mumbai Falcons the rights to host an official Formula 1®-sanctioned sim racing competition, the F1® Sim Racing India Open 2026 will establish a national competitive platform for emerging talent across the country. The appointment reflects Mumbai Falcons’ approach to building a sporting culture and infrastructure that spans across sporting disciplines.

Shreyas Iyer has established himself as one of Indian cricket’s most consistent match-winners and a leader across formats. Off the field, he occupies a growing space in youth culture, with an audience that extends well beyond traditional cricket fans. His strengths and achievements represent high performance, adaptability, and a direct connection with India’s digital-native sporting generation, making him a fitting face for the Championship.

“Sport has always been about finding your edge and staying disciplined enough to act on it. When I heard what Mumbai Falcons is building in terms of a real pathway that takes young Indians from where they are today to where they could go, I didn’t need much convincing. This is the kind of initiative I would have wanted access to growing up, and I’m proud to be part of what’s coming,” said Shreyas Iyer, Brand Ambassador for the F1® Program in India led by Mumbai Falcons Racing Limited.

Speaking about the brand ambassadors’ announcement, Ameet Gadhoke, Managing Director, Mumbai Falcons Racing Limited, said, “We built Mumbai Falcons on the belief that India has world-class sporting talent; the potential, however, has been constrained by structural deficiencies. Partnering with Formula 1® to bring the F1® Sim Racing India Open 2026 to life is yet another significant initiative in that direction. Shreyas represents exactly the kind of athlete we had in mind when shaping this initiative, displaying sporting excellence and discipline paired with authentic resonance with the emerging demographic, the younger aspiring generations. The platform we’re about to launch is something India has not seen in this space before. The full scope of this initiative will be announced shortly.”

The Championship will be contested on F1® 25, the official game of the FIA Formula 1® World Championship, featuring the same circuits, competitive formats, and team liveries as the global series. Registrations will commence on 30th April, 2026, through the MFRL App, available on the Play Store and Apple App Store. Participants will be able to compete across PC, PlayStation 5, and Xbox. The online Qualifiers in the coming months will lead to city-based simulator rounds, culminating in a national final in Mumbai in November.

The upcoming initiative is its most ambitious nationwide project to date, designed to connect Indian youth to a global-format competition through a clearly defined pathway

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PUNE: From 10 February to 9 March 2026, India’s public walls will once again become spaces of dialogue, creativity, and shared imagination as Wall Art India returns for its 5th edition, marking a new milestone in one of the country’s most ambitious urban art initiatives.

Led by the Alliance Française network in India, in collaboration with the Embassy of France in India and the Institut Français, Wall Art India has, since 2021, transformed city walls into open-air galleries — free and accessible to all, deeply rooted in local neighbourhoods, and designed to remain part of the urban landscape long after the festival ends.

A month-long artistic journey across India

Spanning 15 cities across the country, the festival brings together 4 internationally recognised artists: two women and two men, three from France (including one from Réunion) and one Indian artist, for a month-long artistic journey shaped by exchange, participation, and shared creation.

• Khatra (India), a Baroda-trained artist, is known for his bold, meditative murals that blend typography, abstraction, and the raw textures of urban space.
• Kashink (France) is a major figure in international street art, whose vibrant, feminist works challenge social norms and celebrate freedom of identity.
• Kesadi (France) draws on his graffiti background to create poetic compositions inspired by everyday scenes and lived urban realities.
• Dey MKO (France / Réunion) develops large-scale murals marked by an intense palette and powerful symbolism, exploring women’s strength, resilience, and collective narratives.

Working closely with local communities, students, NGOs, and neighbourhood youth, the artists will create monumental murals that turn public space into a shared creative ground. Each artwork becomes a meeting point between artists and residents, between India and France, between individual stories and collective memory.

Artist Tours

Kesadi

Pune: 14 Feb – 17 Feb 2026

Venue: Aksharnandan School

Bahirat Wadi, Shivaji Co-operative Housing Society

2026 Theme: Women, Horizons & New Voices in Urban Art

The 2026 edition places women’s creativity and emerging urban voices at the centre of the project. Through murals, workshops, and public encounters, the festival celebrates diversity, resilience, and innovation, while exploring new artistic formats and reinforcing its commitment to inclusion and community participation.

The Grand Finale, to be held in Bangalore on 8 March 2026, on the occasion of International Women’s Day, will bring three artists together for a monumental collaborative mural, marking the culmination of a month of shared creation and cross-cultural dialogue.

Art for all, impact for cities

Since its launch, Wall Art India has:

• Created more than 40 murals across India and Sri Lanka, most of which remain visible today
• Reached over 12,000 on-site visitors during its last edition alone
• Generated strong national and international media coverage, contributing to the cultural visibility of host cities

By taking contemporary art beyond traditional institutions, Wall Art India reflects the vitality of India’s cities and affirms the role of art as a tool for inclusion, dialogue, and urban transformation.

Strong partnerships supporting creativity

The 2026 edition is made possible thanks to the continued support of partners committed to creativity and public engagement, including JSW, whose contribution supports mural production across the country, and, for the first year, Apollo Tyres, joining the project to champion public art, innovation, and community connection.

A shared vision for India’s urban future

In a country where cities are young, fast-changing, and deeply creative, Wall Art India resonates strongly with India’s own street-art movements while offering a meaningful international perspective. More than a festival, it is a national cultural movement — one that places public space, youth, and imagination at the heart of the conversation.

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NEW DELHI: Anant Goenka, President, FICCI, said,

“We thank Prime Minister Narendra Modi and President Donald Trump for the trade deal that marks a significant reset in India–US economic ties. The reduction of reciprocal tariffs on Indian goods to 18 per cent — following months of negotiation by the Commerce and Industry Minister and his team — will materially improve the competitiveness of Indian exports in the world’s largest import market. With sectors such as apparel, leather, gems and jewellery, and marine products poised to benefit, this agreement has the potential to strengthen business confidence and deepen bilateral economic engagement. If implemented effectively, it can provide a meaningful boost to India’s export growth trajectory, broaden market access, and underscore the strategic importance of sustained cooperation between two of the world’s largest democracies.”

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On 1 February 2026, Finance Minister Nirmala Sitharaman presented India’s Union Budget for 2026–27 — her record ninth consecutive budget. Once again, the nation got a mix of glittering headlines, subtle disappointments, and numbers that sound big because… well… they are big.

What’s Good (Or At Least Sounds Good)

1. Record Infrastructure Spending
The government has pushed infrastructure expenditure to an all-time high of ₹12.2 lakh crore, up about 8.8% over last year. In human terms: more roads, bridges, ports — essentially more concrete for our grandchildren to stumble over. Analysts believe this could boost jobs and growth if the projects actually get done.

2. Boost to Growth Outlook
Macroeconomic projections suggest real GDP growth in the ~6.8%–7.2% range for FY27 — solid by global standards, and still better than many peers. Science says steady growth isn’t just a one-year miracle; it’s the product of sustained investment and productivity.

3. Tax System Simplification
A new Income-Tax Bill 2025 aims to cut through the legal jungle — reducing sections by almost 35% and removing confusing provisos. If this actually makes compliance easier, it’s a win for taxpayers and accountants (mostly accountants, but taxpayers will feel it too).

4. Expansion of Social and Tech Infrastructure
Programs for agriculture (₹1.7 lakh crore), urban development funds, more labs in schools, broadband in health centres, and even a National AI Centre of Excellence are part of this mix. This is budget-speak for “we’re trying to be future-ready.”

What’s Not So Great (Brace Yourself)

1. Fiscal Deficit Still Stubborn
Even though the government claims prudence, the fiscal deficit remains high — roughly 4.3% of GDP. That’s like saying “I’m saving, honest,” while maxing out the credit card. More borrowing also means future citizens get to pay the bill.

2. Household Reality vs Macro Numbers
The macro data looks okay, but many households feel inflation in the grocery queue long before statisticians finish publishing. A scientific forecast can show GDP growth of ~7%, but if food inflation is ~8–9%, real relief doesn’t come home.

3. Tax Relief Expectations — Still Limited
Middle-class taxpayers were hoping for sharper tax cuts or incentives. But this budget’s tax benefits feel… underseasoned. Relief was there, but it wasn’t the feast most people were hungry for. No major overhaul in slabs or long-term capital gains tax sweeteners made headlines.

4. Private Investment Still Waiting for a Signal
Scientific analysis of revenue growth shows that tax buoyancy is lower than expected — meaning tax revenues aren’t keeping up with GDP growth as hoped. This leaves less runway for spending without borrowing. It’s like running a marathon and forgetting your water bottle halfway.

The Sarcastic Summary

If this budget were a Bollywood movie, it’d be “Dilwale Dou Saal Baad; Same Masala” — we’ve seen similar twists (higher capex!), occasional drama (high deficit!), and some new characters (AI centre here, agriculture support there). But the plot twist — genuine relief for everyday people — remains subtle, like a background track you barely notice.

Scientific Data Speaks (Without Jargon)

This is budget science, not astrology — you can measure it, debate it, and yes, budget analysts do fight over charts like it’s the IPL of economics.

Conclusions: Who Wins, Who Shrugs, Who Loses?

Market: Likely impressed by record capex and growth forecasts. Infrastructure and industrial stocks listen here.
Gen Z: Notices AI funding and tech vision, but will grumble about job prospects if employment doesn’t soar.
Common Citizen: Feels moderate relief — essential services and rural push help, but pockets aren’t yet bursting.
Economists: Will have strong opinions — some praise growth focus, others warn the deficit is like a mosquito in a monsoon: small but irritating.

Final verdict: This budget is ambitious in goals, safe in promise, and conservative in immediate relief. It nudges growth and investment — but doesn’t deliver dramatic fireworks for taxpayers. The economy gets a roadmap; citizens get a gentle reminder that patience is a budgetary virtue.

About: Dr. Ajay Kumar, PhD, is an Indian entrepreneur, strategist, and global business leader, currently serving as Chairman & Managing Director of Fox Petroleum Group. With a background spanning energy, infrastructure, media, IT, and aerospace, he is known for steering large cross-border projects and institutional partnerships. Dr. Kumar has been involved in international energy negotiations, strategic investments, and infrastructure planning across Asia, the Middle East, Europe, North America, and Africa. Blending academic rigor with practical leadership, he is recognized for his insights on energy security, investment policy, and emerging technologies, and is a regular contributor to discussions on economic strategy and global markets.

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“The Union Budget 2026 shows clear confidence in India’s manufacturing and MSME sector. The focus on reviving industrial clusters, supporting growing SMEs through a dedicated fund, and strengthening supply chains will help businesses become more resilient and competitive. The continued push on capital spending, easier foreign investment norms, and support for women-led and micro enterprises underline the government’s commitment to inclusive and long-term growth. For Indian consumer brands, this creates the right environment to grow responsibly, innovate with confidence, and play a meaningful role in India’s economic progress.”

Amit Majumdar, Group Chief Strategy Officer, Angel One Ltd

“India’s retail participation and broader financialisation are still in the early stages. Marginal changes in transaction costs do not alter the long‑term behaviour of participants in the capital markets. Over the years, we have transformed Angel One into a diversified franchise spanning wealth, credit, asset management, and soon insurance, adding steady, diversified revenue streams. With more Indians adopting digital investment platforms and building long‑term portfolios, our stated goal of deepening client engagement and continuing to compound as a tech‑led, diversified wealth platform remains intact.

In Q3 FY26, F&O brokerage contributed about 44% of our gross revenue, while interest income from client funding and our broader platform accounted for around 33%, with the rest coming from cash and commodity broking, depository, distribution, and other income streams. This diversified mix reinforces the resilience of our model and gives us confidence that the broader trajectory of our business remains firmly intact.”

Vaqarjaved Khan, Senior Fundamental Analyst, Angel One Ltd. (On the overall impact on markets by the budget developments)

“The Budget strikes a prudent balance between growth and fiscal discipline, with FY27 fiscal deficit targeted at 4.3% of GDP and capex hiked to RS. 12.2 lakh crore, signalling a sustained infrastructure push. Key positives include enhanced incentives for manufacturing, semiconductors, biopharma, textiles, and MSMEs via a Rs. 10,000 crore fund, alongside boosts for agriculture, defence, and clean energy, positioning these sectors for accelerated expansion. The rationalized TDS/customs duties and tax slab simplifications ease compliance, fostering business confidence. For Indian markets, while the STT hike on F&O triggered a knee-jerk sell-off (Sensex down 600+ points), the focus on jobs, exports, and reforms should support long-term equity upside, especially in infra, renewables, and export-oriented plays, amid resilient 6.8–7.2% GDP projections.”

Sandeep Kumar Jain, Managing Director, CDK Global

“The creation of a High‑Powered Education‑to‑Employment and Enterprises Standing Committee signals a landmark shift in India’s approach to human capital development. By directly linking education, skilling, employment, and entrepreneurship, the government is building the connective tissue needed for sustainable growth in the services sector—especially as India aspires for a 10% global share by 2047.

The unified IT Services framework eliminates tax arbitrage, streamlines compliance, and strengthens India’s position as the world’s software and digital services hub. For the technology and services industries, this initiative comes at a pivotal moment. As artificial intelligence and emerging digital platforms redefine work, the focus on adaptive skill pathways will be crucial to ensuring that opportunity keeps pace with innovation. At CDK Global, we see this as an inflection point to deepen industry‑academia collaboration, integrate AI‑driven skill development, and create future‑ready career paths in technology, analytics, and customer experience.

Also, the vision for technology as a societal equalizer—from empowering farmers and women in STEM to enhancing accessibility for divyangjan—echoes our own belief that digital progress must be inclusive by design. This alignment between policy intent and industry capability sets the stage for India’s next chapter as a global leader in technology‑enabled services.”

Shri Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development & Entrepreneurship and Minister of State for Education, Government of India

“The Union Budget 2026–27 presents a confident roadmap for India’s next phase of growth. I congratulate Hon’ble Prime Minister Shri Narendra Modi ji for his visionary leadership and thank Hon’ble Finance Minister Smt. Nirmala Sitharaman ji for a Budget that balances ambition with inclusion, and reforms with responsibility.

This is a truly Yuva Shakti–driven Budget, anchored in the vision of Viksit Bharat 2047. By prioritising productivity, competitiveness, and cutting-edge technologies, including AI, it lays a strong foundation for Viksit Bharat through sustained structural reforms and people-centric growth. It reinforces India’s steady economic trajectory through fiscal discipline, sustained growth, and strategic investments in future-ready capacities.

A strong push to manufacturing, MSMEs, and services stands out as a key growth engine. Investments across biopharma, semiconductors, electronics, textiles (SAMARTH 2.0), chemicals, capital goods, and sports manufacturing will deepen domestic value chains and position India as a trusted global production hub. The three-pronged MSME framework, ₹10,000 crore SME Growth Fund, TReDS-based liquidity, and professional support through “Corporate Mitras”, will empower entrepreneurs to scale and compete.

Initiatives such as AI-backed Bharat Vistaar to integrate agri-stack, creation of SheMarts, Biopharma SHAKTI, ISM 2.0, rejuvenation of industrial clusters, creation of champion MSMEs through equity support, and the 10-year Khelo India Mission reflect a future-ready approach that integrates technology, health, agriculture, and human capital.

A defining feature of this Budget is its decisive commitment to skill development and human capital. The Ministry of Skill Development and Entrepreneurship has received a 62% increase in allocation, with the budget rising from ₹6,100 crore to ₹9,885.80 crore, affirming the Government’s resolve to place skills at the centre of economic transformation. From NSQF-aligned programmes and caregiver training to modernised textile skilling, sports ecosystems and industry-linked pathways, this Budget creates a seamless bridge from education to employment and entrepreneurship, preparing youth to lead in manufacturing, services, technology and the care economy.

The renewed emphasis on the services sector, including healthcare, medical value tourism, AVGC, design, IT, and hospitality, recognises that India’s growth will be powered as much by skills and services as by infrastructure. Continued public capital expenditure will crowd in private investment and expand opportunities across Tier-II and Tier-III cities.

I especially welcome the strong focus on agriculture and allied sectors, particularly for states like Uttar Pradesh, supporting high-value farming, fisheries, animal husbandry, FPOs, and agri-startups. These measures will strengthen farmer incomes while opening new avenues for rural youth and women-led enterprises. Integrating skilling with agriculture and rural entrepreneurship will help move our villages from subsistence to sustainability.

The Budget also advances social inclusion through targeted support for women, Divyangjans, education, healthcare, and social justice. Empowering women through hostels, skilling and entrepreneurship, alongside focused interventions for persons with disabilities, reflects our commitment to ensuring that every citizen participates meaningfully in India’s growth story.

Sports receives a strategic boost as well, recognising its potential for manufacturing, innovation, and youth engagement, while aligning with Uttar Pradesh’s emerging role in sports goods clusters and talent development, and strengthening India’s preparations as we move forward with our bid to host the Olympic Games in 2036. We recently launched SportsEdge Meerut in alignment with this vision—an initiative aimed at building a world-class sports goods manufacturing cluster by integrating skilling, innovation, and MSME support, and I am confident it will add significant value by creating jobs, strengthening local enterprises, and nurturing sporting talent.

Taken together, Budget 2026–27 is not just a financial statement; it is a national mission document. It strengthens economic foundations, unlocks enterprise, empowers farmers and MSMEs, and invests deeply in skills.”

Arijeet Talapatra, CEO at itel India

“The Union Budget 2026 delivers a clear and reassuring message for brands investing in India’s electronics ecosystem, laying a strong framework towards establishing India as a global hub for manufacturing electronics. The increased outlay of the Electronics Component Manufacturing Scheme will help deepen localisation, strengthen the value chains, and improve the cost competitiveness of consumer electronics goods. The announcement of the India Semiconductor Mission 2.0 is a welcome move that will bolster India’s journey towards becoming Atmanirbhar, critical for ensuring uninterrupted access to crucial technologies.

The government’s focus on infrastructure development in Tier-2 and Tier-3 cities will further drive consumer-led growth by improving access, distribution efficiency, and last-mile connectivity. For itel, these initiatives resonate deeply with our commitment of democratizing access to durable, reliable, and affordable technology – empowering millions of consumers across Bharat.”

Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries:

“The Union Budget FY26–27 reinforces India’s commitment to manufacturing-led growth. The continued drive on capital expenditure, with infrastructure allocation exceeding ₹12 lakh crore, alongside fiscal consolidation at 4.3%, strikes a prudent balance between growth stimulus and macroeconomic stability. Enhanced support to the Self-Reliant India Fund will further strengthen the manufacturing and MSME ecosystem. For the automotive and tyre sectors, sustained investments in infrastructure and logistics will improve cost efficiencies and support demand momentum. The emphasis on tourism and an extensive program of skilling the workforce will go a long way in generating employment. In the context of evolving global trade dynamics, continued focus on ease of doing business, technology adoption, and policy stability will be critical to attract investment and scale exports, strengthening long-term growth momentum.”

Benjamin Lin, President, Delta Electronics India

“This Budget brings together multiple strands of India’s manufacturing and technology growth story in a balanced and forward-looking manner. The ₹40,000 crore allocation for India Semiconductor Mission 2.0 and the enhanced outlay for electronics components manufacturing point to a clear focus on scale, depth, and ecosystem development. When seen alongside targeted support for MSMEs through a ₹10,000 crore growth fund, the policy framework addresses both large-scale manufacturing and the strength of the supplier base. By aligning capital support with capability building and innovation, the Budget creates a solid foundation for sustainable, technology-led growth and reinforces India’s ambition to emerge as a globally competitive electronics manufacturing hub.“

Niranjan Nayak, MD, Delta Electronics India

“What stands out in the Union Budget 2026 is the scale, consistency, and seriousness with which the government is approaching electronics and advanced manufacturing. The launch of India Semiconductor Mission 2.0 with an outlay of ₹40,000 crore, along with the expansion of the electronics components manufacturing scheme to a similar level, clearly signals a long-term commitment to building strong domestic capabilities. Importantly, the focus goes beyond manufacturing capacity to include full-stack design, development of Indian intellectual property, skill creation, and stronger supply-chain resilience. This reflects a practical understanding of how globally competitive technology ecosystems are built. Such clarity and continuity in policy direction give industry the confidence to plan long-term investments, deepen local value addition, and steadily move India up the electronics manufacturing value chain.“

Shailesh Chandra, President, SIAM and MD & CEO, Tata Motors Passenger Vehicles Ltd,

“We welcome the Union Budget 2026–27, which continues to focus on long-term, sustained economic growth with a strong emphasis on manufacturing, infrastructure, including freight corridors & waterways, and fiscal prudence. The decision to raise the capital expenditure target to Rs 12.2 lakh crore for FY 2026-27 from Rs 11.2 lakh crore in the current year will provide a strong impetus to demand creation and industrial activity, including the Automobile sector.

Enhanced support for electronic components manufacturing, setting up dedicated corridors for mining and processing of rare earth, along with initiatives to establish high-tech tool rooms and supporting container manufacturing, will develop supply chain resilience and help in streamlining exports. The allocation of 4,000 e-buses for the Purvodaya States will accelerate the transition toward sustainable public mobility solutions.

Continued exemption of Basic Customs Duty on Capital Goods used for manufacturing lithium-ion batteries, along with the extension of concessional duty benefits for lithium-ion cells and their parts used in manufacturing batteries for electric and hybrid vehicles for a further two years till March 2028, will enable creation of a robust EV ecosystem in the country.”

Anil Agarwal, Chairman – Vedanta Ltd, on the Union Budget 2026:

“A growth-oriented Budget, with a clear focus on increasing public capital expenditure and boosting manufacturing.

It is a Budget which creates opportunities for youth to improve their livelihoods, women to become financially independent, and for employment-intensive sectors like medical tourism to take off.

I welcome the Government’s keen attention to critical minerals and rare earths. The Rare Earths Corridors for mining, processing, R&D, and manufacturing in Odisha, Tamil Nadu, Andhra Pradesh, and Kerala will boost growth, employment, and mineral security. Import duty exemption on capital goods for critical minerals processing is very timely in the current global scenario.

The announcement on flexibility in SEZs, which will permit some sales in the domestic market, is an excellent move.

I congratulate the PM and FM for continuing to steer the Indian economy with a very steady hand in uncertain times.”

Prashanth T.S., President & Head – Mid-Corporates & Medium Enterprises Group, Axis Bank.

“The Budget meaningfully improves the growth runway for MSME banking in India. By expanding credit guarantee coverage and accelerating the adoption of digital receivables financing through TReDS, the government has eased two long-standing structural challenges—collateral dependence and delayed cash flows. This creates a stronger foundation for banks to scale MSME lending, deepen relationships with formalising enterprises, and support credit growth in a more calibrated and resilient manner. Over time, this can strengthen balance sheets and reinforce the role of MSMEs in driving India’s next phase of economic expansion.”

Shekhar Patel, MD and CEO, Ganesh Housing Limited.

“Union Budget 2026 reinforces a clear shift in India’s growth approach by placing Tier-2 and Tier-3 cities at the heart of the Viksit Bharat vision. The continued focus on infrastructure development, MSME expansion, manufacturing, and semiconductor ecosystems, along with digital capacity building across AI and technology, strengthens the foundation for employment creation and enterprise growth beyond traditional metropolitan markets.

For the real estate sector, the Budget improves long-term fundamentals around connectivity, capital confidence, and planned urbanisation. Cities such as Ahmedabad stand to benefit significantly from this approach, given their strong industrial base, improved urban infrastructure, and growing appeal as destinations for businesses, talent, and institutional capital. The emphasis on digital public infrastructure and technology-enabled governance will further shape how such cities plan, develop, and manage real assets, supporting more efficient and future-ready urban ecosystems.

As enterprises, technology-led companies, and GCCs diversify their geographic footprint, demand will increasingly move towards well-planned, compliant residential and commercial developments in emerging markets. Budget 2026 provides the policy stability and execution momentum required for developers to invest with confidence, align supply with economic growth, and support the next phase of balanced urban and economic transformation.”

Dr. Anish Shah, Group CEO & MD, Mahindra Group

“We applaud the Government of India’s Union Budget 2026 presented today by Finance Minister Nirmala Sitharaman. This Budget focuses on enhancing India’s competitiveness in the world, takes meaningful steps towards atmanirbharta and enables a wider participation in the benefits of economic growth.

The emphasis on frontier and strategic manufacturing sectors, including the launch of enhanced schemes such as Biopharma Shakti and the Semiconductor Mission (ISM 2.0), reflects a clear commitment to building global-scale manufacturing capabilities. Strengthening domestic value chains and reducing critical import dependencies will be key to India’s future industrial leadership.

We particularly welcome the significant increase in capital expenditure to ₹12.2 lakh crore for FY27, which underscores an unambiguous policy focus on infrastructure, regional development, and job creation across the country. This will play a pivotal role in crowding in private investment, enhancing productivity, and supporting the growth of tier-2 and tier-3 cities as emerging economic hubs. 

The proposal to establish a dedicated ₹10,000 crore SME growth fund and incentives for industry clusters is a positive step toward enabling future job creation, supporting enterprise scaling, and boosting the competitiveness of small and medium businesses.

Initiatives to promote critical minerals, rare earth corridors, and enhanced electronics and capital goods manufacturing are forward-looking and essential for a resilient industrial ecosystem that can thrive amid global uncertainties. 

And, most importantly, the emphasis on sabka saath, sabka vikaas is commendable. The actions to ensure every community has access to resources and opportunities will enable robust and sustainable economic growth.

Overall, Budget 2026 signals continuity in policy direction, a firm commitment to sustainable and inclusive growth, and efforts to unlock India’s economic potential at scale. We believe these measures can accelerate innovation, enhance value-added manufacturing, and strengthen India’s standing in the world.”

Manoj Bhat, Managing Director & CEO of Mahindra Holidays & Resorts India Ltd

“The Union Budget 2026 reinforces the government’s intent to use tourism and hospitality as levers for balanced economic growth rather than treating them as standalone consumption sectors. The focus on destination development beyond metros, improved physical connectivity, and a sharper push on spiritual and heritage circuits reflects a recognition that tourism growth must be geographically distributed and locally rooted.

Equally important is the emphasis on skilling and workforce development. As the sector expands into tier two and three markets, the availability of trained talent will determine not just service quality but the sustainability of growth itself. By linking infrastructure creation with human capital development, the Budget moves the conversation from short-term demand creation to building a resilient, employment-generating tourism ecosystem.”

Sudhir Sitapati, Managing Director & Chief Executive Officer, Godrej Consumer Products Ltd.

“We particularly welcome the MAT credit set-off being allowed up to 25% of the tax liability under the new tax regime. This move improves cash flows and makes the new tax regime smoother for companies with accumulated credits, freeing up capital for reinvestment into growth and consumption-led categories.”

Gaurav Pandey, Co-Chairman, FICCI Committee on Urban Development and Real Estate, and Managing Director & CEO, Godrej Properties

“The Union Budget 2026 continues the strong focus on infrastructure-led growth, with a record INR 12.2 lakh crore capital expenditure and sustained emphasis on urban development, connectivity, and city-led growth. Measures such as the Infrastructure Risk Guarantee Fund, expansion of transport corridors, and support for city economic regions are positive for real estate demand over the medium term. The Government’s commitment to fiscal discipline and long-term growth creates a stable macroeconomic foundation, strengthening confidence across sectors and supporting sustained economic expansion.”

Rakesh Jain, CEO, IndusInd General Insurance

Union Budget 2026–27 is a forward-looking and reassuring document presented at a time when global volatility, geopolitical tensions, and supply-chain disruptions continue to shape economic realities. The Finance Minister’s emphasis on accelerating growth, especially in the new age sector, while strengthening resilience, reflects a clear understanding of what India needs at this stage of its development.

For the general insurance sector, several parts of this Budget create strong tailwinds. The MSME-focused measures, including the ₹10,000 crore SME Growth Fund, the additional support to the Self-Reliant India Fund, and the significant strengthening of the TReDS ecosystem through CPSE onboarding, credit guarantee support, GeM linkages, and securitisation of receivables, expand formalisation and improve liquidity for small businesses. These steps broaden the base of insurable enterprises and support wider adoption of property, liability, marine, cyber, and employee health insurance in the country.

The reforms related to motor insurance, particularly the exemption of income tax on interest awarded by the Motor Accident Claims Tribunal and the removal of TDS, will meaningfully improve claimant outcomes and reinforce trust in the claims process. This is an important step towards making motor insurance more customer-centric and responsive.

The Government’s ₹10,000 crore Biopharma Shakti initiative aims to position India as a global hub for biologics and biosimilars, strengthening domestic research and manufacturing. The Budget also expands health capacity by adding Allied Health Professionals, enhancing district-level emergency and trauma care, training caregivers, and supporting regional medical hubs. These measures together improve healthcare delivery, outcomes, and long-term insurance sustainability.

Beyond direct sector touchpoints, the Budget’s large-scale push on infrastructure, including increased public capex of Rs 12.2 lakh crore, dedicated freight corridors, expansion of waterways, high-speed rail development, and city economic regions, opens major avenues for engineering, project liability, and specialty insurance. The proposed Infrastructure Risk Guarantee Fund is also a welcome move that can help de-risk large projects and accelerate private-sector participation.

Equally important is the renewed focus on India’s next phase of urban expansion. The plan to develop Tier 2 and Tier 3 cities through City Economic Regions signals a major shift in how regional growth will be shaped. By channelling investment into these emerging urban centres and strengthening them around their core economic strengths, the government is enabling more balanced urbanisation, stronger commercial ecosystems, and modern infrastructure. As these cities scale, the complexity of economic activity will rise, increasing the demand for holistic risk solutions across property, infrastructure, liability, and transit. Insurers will play a crucial role in helping businesses and communities in these regions manage risks effectively and grow with confidence.

The Budget’s strong emphasis on renewable energy, carbon capture, and advanced manufacturing broadens the risk landscape in areas such as climate-linked exposures, environmental liability, and sustainable energy projects. This creates opportunities to scale parametric covers, catastrophe protection, and climate-risk solutions that will be crucial for India’s long-term resilience.

As India moves confidently towards its vision of Viksit Bharat, the general insurance sector is committed to partnering in this journey, protecting people, supporting businesses, enabling infrastructure, and building a more secure and resilient nation.”

Rajeev Singh, Managing Director, BenQ India and South Asia 

The Union Budget 2026 makes a clear statement on reimagining education as a direct driver of employability and economic growth. The proposed Education-to-Employment Standing Committee acknowledges the urgent need to align learning with industry demand and the accelerating impact of technologies such as artificial intelligence.

Initiatives such as Content Creator Labs in 15,000 schools and the development of university townships near industry corridors mark an important shift towards hands-on, technology-enabled, and industry-connected learning environments. These measures will encourage creativity, collaboration, and real-world skill development across K-12 and higher education.

Together with continued support for domestic manufacturing and the semiconductor ecosystem, the Budget creates a strong foundation for modern digital classrooms and future-ready campuses. It enables education and enterprise technology providers to play a meaningful role in building skills, improving learning outcomes, and preparing India’s talent base for global competitiveness. It will be good to see how these initiatives take shape in the coming days, and we will support them to the best of our ability.

Ravi Agarwal, Co-Founder and Managing Director, Cellecor 

The Union Budget 2026 reflects a steady and constructive approach toward strengthening India’s consumer electronics and technology manufacturing ecosystem. The near doubling of the Electronics Components Manufacturing Scheme outlay from ₹22,919 crore to ₹40,000 crore is a meaningful step toward building a stronger domestic component supply chain. Alongside the expansion of the India Semiconductor Mission (ISM) 2.0 into a broader, full-stack programme covering materials, equipment, design, and R&D, this signals strong momentum toward positioning India higher on the global electronics value chain.

The parallel focus on employment generation and large-scale skilling in electronics manufacturing and emerging technologies will help create a future-ready workforce across factories, assembly lines, and service ecosystems.

Overall, the Budget creates a supportive environment for consumer electronics brands to invest with confidence. We look forward to contributing to this growth journey through innovation, localisation, and product development.

Pankaj Rana, CEO, Hisense India 

The Union Budget 2026 outlines a forward-looking technology roadmap that strengthens India’s position as a global electronics and innovation hub. The sustained focus on semiconductor manufacturing, electronics components, and AI-led innovation reflects a strong policy commitment to building a resilient domestic ecosystem. Initiatives like India Semiconductor Mission 2.0 and the enhanced outlay for electronics manufacturing are expected to deepen local value creation and strengthen supply chains. For the consumer electronics industry, this creates a stable, growth-oriented environment that encourages long-term investments, innovation, and localisation.

Aditya Khemka, Founder & Managing Director, CP PLUS 

The Union Budget 2026 signals a decisive shift in India’s technology and security journey, with a clear focus on building capability at home. The strengthened push under the India Semiconductor Mission 2.0 is not only about self-reliance, but about ensuring that the intelligence, computing power, and hardware powering next-generation AI systems are designed and manufactured in India.

The government’s emphasis on artificial intelligence reflects a move from experimentation to real-world, mission-critical deployment. As AI becomes central to public safety, surveillance, and smart infrastructure, this Budget lays the foundation for scalable, secure, and responsible adoption across the country.

For homegrown technology companies, this policy clarity creates long-term confidence to invest locally, innovate for Indian needs, and build globally competitive solutions. It positions India not just as a consumer of advanced technologies, but as a trusted creator of AI-led security and infrastructure solutions aligned with the vision of Make in India

Rahul Garg, Founder-CEO, Moglix

The Budget’s emphasis on artificial intelligence, quantum research, and innovation-led missions strengthens India’s technology backbone. These investments enable enterprises to deploy AI across manufacturing optimisation, procurement automation, and supply chain forecasting. When combined with sectoral programmes such as textile modernisation and industrial cluster rejuvenation, emerging technologies will play a critical role in improving productivity, quality control, and operational efficiency across traditional and advanced industries.

Murali Mantravadi, Joint Managing Director, Energy Bots – Flosenso 

Reading the Union Budget 2026, what becomes clear is a steady shift in how technology is being viewed. The push through India Semiconductor Mission 2.0 and higher investment in electronic components suggests the government wants India to build deeper capability, not just scale services. That is an important signal. Sustainable advantage comes from owning design, supply chains, and execution, not only distribution. The continued emphasis on AI, industry-linked research, and creative skills points to an understanding that technology outcomes depend as much on people and process as on policy. The real test now is execution, but the intent feels more structural than symbolic.

Sheetal Arora, Promoter & CEO, Mankind Pharma

“The Union Budget makes a clear and timely choice by placing biopharma at the centre of India’s next manufacturing wave, alongside other frontier sectors. As India’s disease burden shifts towards diabetes, cancer, and autoimmune disorders, and advanced NCD therapies gain wider adoption globally, the focus on biologics and biosimilars is both relevant and necessary. The Bio Pharma Shakti initiative recognises that longevity, quality of life, and affordability will define healthcare outcomes going forward.

The Finance Minister, Nirmala Sitharaman, has reinforced the Viksit Bharat vision through a ₹10,000 crore commitment to build a strong domestic biopharma ecosystem, strengthen institutions, upgrade the Central Drugs Standard Control Organization to global standards, and enable faster, predictable approvals. The full BCD exemption on 17 cancer drugs and targeted relief for rare diseases will further improve patient access while supporting innovation in high-need areas.

Over the coming years, the alignment of these reforms with the evolving **European Union–India trade framework will help Indian pharma move from scale to leadership, attract global investment, and strengthen India’s position as a trusted manufacturing and innovation partner in advanced therapies.”

Sanjiv Navangul, CEO, BSV ( A Mankind Group Company)

The Union Budget 2026 provides much-deserved momentum for India’s biopharma journey. We welcome the government’s intent to strengthen the biopharma ecosystem, and the Biopharma Shakti initiative is an encouraging step in this direction. The focus on building scale across strategic and frontier sectors creates the right environment for long-term improvements in health outcomes. The initiative recognises the need for innovation and research while creating a conducive ecosystem for good health through knowledge sharing and technology.

Alongside this, the emphasis on driving research by setting up new National Institutes of Pharmaceutical Education and Research will not only build talent but also augment the research capabilities of the country.

Strengthening the regulatory landscape through a robust biopharma-focused network, including enhanced capacity and faster approval timelines, will further support innovation and improve patient access.

Further, the proposed investment of Rs 10,000 crore over five years, along with the emphasis on domestic production, will go a long way in strengthening supply security and reducing dependence on imports. This aligns with the vision of BSV, as we remain committed to making in India for India and the world.

Additionally, the Budget’s proposal to promote India as a global hub for sports goods is also encouraging. Improved access to quality sports equipment can help drive wider participation of women in sports while supporting healthier lifestyles.”

Dr. Ankit Gupta, Managing Director, Park Medi World Limited

“The Union Budget 2026 presents a comprehensive roadmap for strengthening India’s healthcare ecosystem at a time when the country’s disease burden is shifting towards non-communicable diseases such as diabetes, cancer, and autoimmune disorders, alongside a rapidly ageing population. The proposed addition of one lakh allied health professionals will help bridge workforce gaps across hospitals, rehabilitation centres, and community-based care settings. This is complemented by plans to train 1.5 lakh caregivers through NSQF-aligned, multi-skilled programmes, strengthening long-term, elderly, and post-acute care services.

The establishment of five regional medical tourism hubs in partnership with the private sector reinforces India’s ambition to emerge as a preferred global healthcare destination. For hospital networks such as Park Hospitals, these initiatives create meaningful opportunities to scale specialised allied services, strengthen geriatric and rehabilitation care, and contribute to medical value tourism aligned with national healthcare priorities.”

Dr Tapash Kumar Ganguli, Director-General, NICMAR.

“The Union Budget has expectedly continued with its policy thrust on deepening the manufacturing and construction ecosystem in the country. Given the still sluggish pick up in corporate investment activity, the Government has used its fiscal headroom to augment and deepen the manufacturing ecosystem in the country through an increase in capital spending. The emphasis on new freight and high-speed rail corridors, 10 inland waterways to push up the share of coastal cargo by 12 percent by 2047, as well as the support to states under SASCI, are all welcome steps in the right direction. Overall, the trajectory of continued policy emphasis on infrastructure creation continues with an almost 20 pct increase in capital expenditure, a strategic choice that will contribute to enhancing the productive sectors of the economy.”

Mukund Vasudevan, MD, SKF India (Industrial) Limited and President – India, Southeast Asia, and Middle East

“The Union Budget 2026–27 delivers a clear, confidence‑boosting push for India’s industrial growth. Despite maintaining fiscal discipline, the higher public CAPEX of ₹12.2 lakh crore signals strong momentum for manufacturing and infrastructure.

Reforms focused on financial access, technology adoption, and competitiveness lay the groundwork for long-term industrial strength – key for India to scale and compete alongside global players. Investments in freight and industrial corridors, along with logistics upgrades, will lower costs, strengthen supply chains, and make Indian manufacturing more efficient.

MSME-focused steps such as the Growth Fund and an expanded TReDS ecosystem should ease liquidity and improve access to capital. Overall, the Budget reinforces India’s direction toward localization, private investment, and resilient industrial growth, giving businesses greater clarity and confidence to scale.”

Vinaya Varma, Managing Director, mjunction services limited

“The Union Budget 2026–27, with FY27 capital expenditure pegged at ₹12.2 lakh crore, reinforces infrastructure-led growth across roads, railways, ports, power, and logistics sectors that anchor demand for steel and coal. Focus on new dedicated freight corridors, expanded inland waterways, and coastal cargo schemes is expected to improve evacuation efficiency, lower logistics costs, and support offtake in bulk commodities.

The policy thrust on digital and AI-enabled systems, trust-based customs processes, and integrated platforms strengthens organized, transparent trade and price discovery across industrial value chains. The ₹20,000 crore CCUS outlay for hard-to-abate sectors signals clear support for green steel, while enhanced MSME financing through the ₹10,000 crore SME Growth Fund and expanded TReDS improves liquidity and market participation.”

We have some very welcome decisions taken, which will significantly strengthen the digital and export infrastructure. The Finance Bill, 202,6 has now omitted Section 13(8)(b) of the IGST Act, 2017. Consequently, the place of supply for intermediary services will be determined under the default rule of Section 13(2), i.e., location of the recipient.

Post this change, our B2B e-auction services for Global customers will now qualify as export of services. This is expected to bring a significant structural relief that directly improves our competitiveness in global markets.”

Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Limited

“Union Budget 2026–27 reinforces India’s medium-term growth trajectory by combining fiscal consolidation with a sustained public capex outlay of ₹12.2 lakh crore, providing long-term visibility for infrastructure and energy investments.

From an energy perspective, the Budget’s focus on system resilience is particularly relevant. As renewable capacity scales rapidly, grid-scale Battery Energy Storage Systems will be essential to manage variability and ensure dependable power delivery. Extending basic customs duty exemption to capital goods used for manufacturing battery energy storage systems is a material step toward accelerating deployment and lowering system costs.

Energy diversification is further strengthened through customs relief for solar manufacturing inputs and a ₹20,000-crore, five-year commitment for carbon capture, utilization, and storage. At scale, this reinforces the need for reliable, technology-enabled power systems to anchor India’s evolving industrial base and energy ambitions.”

Ashok Kumar Bhaiya, Chairman & Managing Director at Aludecor Lamination Pvt. Ltd.

“The Union Budget 2026, presented by the Hon’ble Finance Minister, is aimed at further accelerating the momentum of the construction and building materials sector in India. The sustained growth in public capital expenditure to ₹11.2 lakh crore, and the development of Tier II and Tier III cities with a population of over 5 lakhs as growth centers and City Economic Regions, will help sustain demand for quality construction materials, where quality and compliant façade solutions are becoming increasingly important.

The Scheme for Enhancement of Construction and Infrastructure Equipment is especially important, as it promotes the use of modern and safety-driven construction practices. This will lead to a natural increase in the demand for engineered, fire-rated, and performance-oriented façade materials, which will provide greater opportunities for organized manufacturers.

While the direction outlined in the Budget is encouraging, the pace of on-ground implementation will be key in determining its real impact on the sector. We remain optimistic and look forward to these measures translating into consistent project execution and sustained industry growth.”

Stéphane Deblaise, CEO, Renault Group India

“The Union Budget 2026–27 sends a strong and reassuring signal of policy continuity and intent for India’s manufacturing-led growth. Anchored in the Kartavya pillars for Viksit Bharat, the Budget demonstrates a clear commitment to building resilience, competitiveness, and technological depth across strategic sectors. The progression to India Semiconductor Mission 2.0, with its focus on equipment, materials, full-stack Indian IP, and supply-chain strengthening, aligns closely with the evolving needs of the industry. The targeted push to reduce critical import dependencies, through initiatives on rare earth magnets and continued customs duty exemptions on capital goods for lithium-ion cells, creates confidence for deeper localisation and sustainable mobility. Supported by public capital expenditure of ₹12.2 lakh crore and enhanced logistics corridors, the Budget provides greater momentum to responsible growth of the Indian economy.”

Sasikumar Kallanai, Co-founder & CEO, TenderCuts

The Union Budget’s emphasis on productivity-led growth across agriculture and allied sectors, especially fisheries and animal husbandry, is a constructive step towards strengthening India’s domestic food and protein ecosystem.

Initiatives around better utilisation of inland reservoirs, support for Fish FPOs and women-led groups, and loan-linked capital subsidy for veterinary and para-veterinary infrastructure can improve supply consistency, traceability, and income stability at the source. The integration of AgriStack with AI-led dissemination of agricultural practices and stronger market linkages further strengthens this ecosystem.

For TenderCuts, these measures are aligned with the need to build a modern, sustainable, and inclusive meat and seafood supply chain that delivers quality to customers consistently.

Paul Alukkas, Managing Director, Jos Alukkas, says:

“The Union Budget 2026–27 reinforces confidence in the economy by backing growth of around 7% while staying on a fiscal consolidation path, with the deficit targeted to decline from 4.8% in FY25 to 4.4% in FY26. This focus on macroeconomic stability is reassuring for households and businesses. Measures such as TDS rationalisation and lower TCS on education expenses abroad should boost disposable incomes and discretionary spending, and this is a welcome measure. The continued emphasis on MSMEs, credit availability, and formalisation is expected to support jewellers, particularly in tier-2, tier-3, and rural markets.”

Saurabh Mukherjea, Co-Founder & CIO, Marcellus Investment Managers:

“The Union Budget 2026–27 is directionally positive for India’s long-term economic health, even though markets have reacted nervously in the short term. The increase in Securities Transaction Tax on F&O trading is a necessary corrective. Over the past few years, speculative derivatives trading activity has destroyed large amounts of household capital, and this move should help redirect savings towards consumption and productive investment. Equally important is the government’s decision to set up a high-level committee to review the banking and financial system, which could accelerate PSU bank privatisation and unlock greater participation from global and domestic private capital.

The key concern, however, is the rise in capital expenditure at a time when tax revenues are undershooting. Funding higher capex through increased borrowing risks, tightening financial conditions by pushing up bond yields and the economy’s cost of capital. Overall, the Budget takes important structural steps in the right direction, but its effectiveness will ultimately depend on maintaining fiscal discipline while pursuing growth.”

R.S Subramanian, SVP, DHL Express India

A Landmark Shift Towards a Truly Trust-Based Trade Environment

The trade facilitation measures announced in the Union Budget mark a significant evolution in India’s approach to global commerce. By placing systemic trust and digital integration at the centre of reforms, the government has laid a strong foundation for a more resilient, agile, and globally competitive export-import ecosystem.

A major highlight is the transition towards a fully digital, trust-based customs framework. The adoption of AI-enabled scanning, faster clearance,s and more predictable regulatory rulings goes beyond improving speed and efficiency. It enhances transparency, reduces uncertainty, and provides businesses with the confidence required for long-term investment and operational planning.

Several measures directly address long-standing pain points in cross-border trade. The removal of value caps on courier exports and the simplification of duty structures significantly ease compliance, particularly for MSMEs and e-commerce exporters, apart from Individuals who were always perplexed & unhappy with different duty rates. These steps will help expand India’s footprint in global markets by removing procedural and value-related constraints.

The introduction of seamless export returns and “Return-to-Origin” processes reduces risk, cost, and congestion in international trade. This reform improves shipper confidence, ensures faster resolution of non-clearance scenarios, and creates a more business-friendly trading environment.

Further, the integration of SEZ clearances through a combination of ECCS, ICEGATE, and ICES strengthens the digital trade infrastructure. This will enable Special Economic Zones to operate in a more frictionless manner and remain globally competitive. This also sets the tone for clearances of EOU, IGCRD,  MOOWR, etc via Courier.

Another impactful reform is the strengthening of the Authorized Economic Operator (AEO) framework through the introduction of a 30-day deferred duty payment option. This is a significant enabler for working capital efficiency and offers a strong incentive for businesses to adopt higher compliance standards.

Collectively, these measures represent a decisive shift towards a modern, trust-based, and technology-driven trade ecosystem, reinforcing India’s ambition to become a preferred global trade and logistics hub.

Sunil Nair, CEO, Ramky Infrastructure Ltd,

“The Union Budget 2026 underscores a clear continuity of confidence in India’s infrastructure growth story. The proposal to establish an Infrastructure Risk Guarantee Fund is a particularly forward‑looking intervention; it directly addresses one of the biggest hurdles in the sector: risk perception during the early stages of project development and construction. By offering partial credit guarantees to lenders, the Fund will not only ease financing bottlenecks but also embolden private players to invest in new, large‑scale projects with greater assurance.

Equally significant is the government’s move to accelerate asset monetisation through dedicated Real Estate Investment Trusts (REITs) for  Central Public Sector Enterprise (CPSE) owned real estate. This will unlock dormant capital, enhance liquidity in the system, and catalyse a new wave of investments across allied sectors like logistics, housing, and industrial infrastructure.

Complementing these reforms, the Budget’s thrust on industrial infrastructure through the Chemical Park and bulk drug park, Biopharma Shakti schemes, enhances India’s manufacturing and innovation ecosystem. The Chemical Park and bulk drug park will create plug‑and‑play clusters to boost domestic chemical production and reduce imports, while the ₹10,000 crore Biopharma Shakti initiative aims to build a globally competitive biopharma ecosystem through new NIPERs, clinical trial networks, and upgraded regulatory standards.

Finally, with a proposed capital expenditure of ₹12.2 lakh crore for FY 2026‑27, the Budget reaffirms infrastructure as the backbone of India’s economic momentum. These measures together create a balanced ecosystem, de‑risked, capital‑efficient, and geared towards sustainable, high‑velocity growth. For developers like Ramky Infrastructure, this paves the way for deeper partnerships in nation‑building.

Manoj Tulsian, CEO & Joint Managing Director, Greenply Industries Ltd.

“The Union Budget 2026 presents a clear and growth-oriented vision for India’s economy, with a strong focus on manufacturing, infrastructure, and job creation. The Government’s continued reform momentum, driven by over 350 reforms announced since Independence Day 2025, including GST simplification, labour reforms, and reduced compliance, will significantly ease operations for organized manufacturers, enabling faster expansion, better efficiency, and improved formalization across sectors like wood panels and interior infrastructure.

Rise in public capex and building focus on infrastructure are expected to drive housing and realty activity in tier II and tier III cities, where the demand for quality, branded interior solutions is increasing at a faster pace. This will, in turn, directly help the homebuyer due to better access to well-finished, durable, and safe interiors as well as enhanced demand for plywood, MDF, and related products.

The emphasis on strengthening MSMEs and reviving traditional industrial clusters is particularly encouraging for the wood-based industry, which depends on a large network of carpenters, fabricators, and small processing units. Improved access to finance, technology, and compliance support will help upgrade skills, enhance productivity, and create more stable livelihoods for skilled and semi-skilled workers across non-metro regions.

At the same time, the Government’s commitment to fiscal discipline, reflected in a gradual reduction in fiscal deficit and debt levels, provides long-term economic stability. At Greenply Industries, this balanced approach between growth and financial discipline gives us the confidence to continue investing in capacity expansion, sustainable manufacturing practices, and skill development, while contributing meaningfully to India’s housing growth and a more responsible interior infrastructure ecosystem.”

The post Key Highlights from the Union Budget 2026-27: Notable Quotes and Insights appeared first on NRI News.

Support for creating 5 university townships near industrial corridors, viability gap funding for establishing girl’s hostel in every district to increase the percentage of girls in higher education, and the formation of a new high-power committee to align education with job market demands and to assess the impact of AI are some of the announcements that can impact the education sector in the coming years.

Some other significant announcements for the education sector include the formation of the much-needed Education-to-Employment and Entrepreneurship Committee. The budget also supports training 1 lakh allied health professionals over five years, focusing on various areas, including important yet neglected segments like applied psychology and behavioral health. Happy to see some attention for education and skill development.

The post Insights from Dr. Preeti Joshi on the Union Budget 2026-27: A Liberal Arts Perspective appeared first on NRI News.

“The Budget has done an excellent job of balancing immediate and long-term job creation by placing the integration of infrastructure and manufacturing at its core. An infrastructure outlay of 12.2 lakh crore—representing a 9% increase—reinforces the government’s sustained focus on meeting India’s evolving infrastructure needs.   Cities continue to be positioned as key growth engines, with a proposed scheme that will provide funding support of ?5,000 crore per city as per their economic regions for all cities with populations above 5 lakh, and a strong emphasis on urban mobility through seven new high-speed connectivity corridors, which could collectively strengthen the economic aspirations of urban India.  

On the manufacturing front, the announcement of Semiconductor Mission 2.0, enhanced support for the electronics components scheme, plans to revitalise 200 industrial clusters, and a focused push on critical minerals could significantly strengthen India’s manufacturing ecosystem and accelerate the country’s transition into a competitive global destination. This could also develop India’s self-reliance for emerging industries such as semiconductors, electronics, and advanced batteries, and advance the government’s vision of Viksit Bharat@2047.“

Sujay Shetty, Managing Director (ESDM & Semiconductor), PwC India-

“As someone who is deeply invested in India’s tech ecosystem, I warmly welcome the Union Budget 2026–27’s visionary and strategic advancements for the electronics and semiconductor sector. The launch of ISM 2.0 represents a transformative step forward, prioritising domestic production of equipment and materials, full-stack design capabilities, the development of Indian IP, the fortification of the supply chain, intensified industry-led R&D, and a robust, skilled workforce through dedicated training initiatives. This comprehensive framework could significantly elevate India’s role in the global semiconductor value chain.

The government’s forward-looking focus on promoting mining, processing, research, and manufacturing of rare earth minerals, through dedicated corridors in the mineral-rich states of Odisha, Kerala, Andhra Pradesh, and Tamil Nadu, is equally commendable. This initiative could address critical supply chain vulnerabilities and strengthen the country’s self-reliance in essential inputs for high-tech industries.

Complementing these efforts, the additional ?40,000 crore outlay for the Electronics Components Manufacturing Scheme (ECMS) could catalyse substantial investments, enhance domestic value addition, generate high-quality employment, and solidify India’s emergence as a global leader in electronics manufacturing and innovation.”

Ranen Banerjee – Partner and Leader, Economic Advisory, PwC India 

“The theme of the Budget can be summarised as consolidation, rationalisation, and incentivisation – consolidation of ongoing schemes, rationalisation of overlapping schemes, and incentivisation of business, individuals, and entrepreneurs through further ease of doing business. 

Given the fiscal constraints, the Budget was on expected lines with the fiscal deficit for FY26 being met and the FY27 target being just 10 bps lower with the debt- to- GDP ratio targeted to be lowered by 50 bps. Job creation is a cross-cutting theme, with interventions and further momentum through creation of a cadre of Corporate Mitras, training of tourist guides, veterinary, hospitality, and allied healthcare professional skilling, and development of tourist circuits and specialised tourist trails.” 

Sujay Shetty, Partner and Leader – Health Industries, PwC India

“Union Budget 2026–27 sends across a powerful statement of intent for India’s biopharma sector. The focus on supporting both patient and industry needs through key pillars strengthening biomanufacturing, expanding skills development via additional NIPERs, and accelerating approval timelines signals a clear commitment towards improving ease of doing business through regulatory capacity building and faster decision-making.

Another significant aspect of this year’s Budget is the strong emphasis on medical tourism. By positioning India as a trusted global destination for high-quality, affordable care, the Budget reinforces the sector’s potential both as a growth engine and as a contributor to India’s global healthcare leadership.

Equally encouraging is the much-needed focus on Ayurveda and wellness. By providing targeted support to help the sector build scale and global competitiveness, the government recognises India’s unique strengths in the pharma sectorand opens new opportunities for innovation, exports, and job creation.

Taken together—across biopharma, medical tourism, Ayurveda, wellness, and skills building—these proposals make this a truly forward-looking Budget that will take India well on its way to achieving the goals of a Viksit Bharat.”

Sambitosh Mohapatra, Partner and Leader, Climate and Energy, PwC India

“India’s latest Union Budget marks a decisive shift from chasing capacity targets to building true system resilience. It signals a bold ambition: to lead the global green industrial revolution. 

The launch of the ₹20,000 crore CCUS Mission and the SMR Nuclear Mission shows that the government is directly addressing hard-to-abate sectors that define the next frontier of decarbonisation. The restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) is a transformative move—unlocking deep capital pools which are critical to powering the ₹12.2 lakh crore capex cycle.  

At the same time, focus on the semiconductor ecosystem, critical mineral corridors, and permanent magnet manufacturing tackles the biggest vulnerability in the clean energy transition: supply chain sovereignty. For the industry, extended customs duty exemptions for Battery Energy Storage System (BESS) and a simplified Income Tax Act offer predictability and a clearer fiscal runway.

This isn’t just a green budget—it’s a competitive industrial strategy. One that positions India as a global hub for cleantech and biopharma innovation, while maintaining fiscal discipline with a 4.3% deficit. India is no longer merely participating in the energy transition but is positioning itself to shape it.”

Manpreet Singh Ahuja, Chief Client Officer and TMT Leader, PwC India 

Media & Entertainment

“For media and entertainment, the ‘Orange Economy’ push—especially AVGC content creator labs across 15,000 schools and 500 colleges— could create a pipeline for India to lead in content, gaming, and immersive storytelling.  Taken together, these measures can strengthen the TMT flywheel—better infrastructure, better innovation, better trust, and better growth—thereby accelerating India’s Viksit Bharat goals.”

Technology

“Union Budget 2026–27 is a clear signal that India wants to be a producer of digital value. The Budget strengthens the foundations of a future-ready digital economy through three big moves: building global-scale digital infrastructure, deepening ‘trust by design’ in governance, and accelerating talent creation for the next wave of technology-led growth. For the technology ecosystem, the most significant announcement is the intent to make India a global hub for cloud and data infrastructure, via a tax holiday till 2047 for foreign companies providing global cloud services using India-based data centre capacity. This move, coupled with a more predictable tax and compliance regime for IT services, reduces uncertainty, improves capital confidence, and enables faster global scaling for India.”

Telecom

“For telecom and connectivity-led businesses, the direction is clear: capital efficiency improves when regulation simplifies, supply chains strengthen, and domestic electronics capacity expands. ISM 2.0 and the expanded Electronics Components Manufacturing Scheme could reinforce the device-to-network stack, and create a stronger backbone for the next-generation enterprise and consumer use cases.”

Gayathri Parthasarathy, Partner and Leader – Financial Services, PwC India 

“Union Budget 2026–27 reinforces the government’s dual priority of sustaining growth while maintaining fiscal discipline. Continued high capital expenditure in infrastructure, manufacturing, digital public infrastructure, and energy transition is expected to crowd in private investment and strengthen India’s long-term growth trajectory.  

A key highlight is the strong emphasis on financial sector reforms. The banking system was described as healthier and more resilient—with improved asset quality, stronger balance sheets, and rising profitability. A high-level committee on banking has been proposed to align the sector with India’s next growth phase and help in achieving Viksit Bharat goals. This committee will undertake a comprehensive review of the banking sector’s structure, governance, and future readiness to meet India’s expanding credit needs, while safeguarding stability and consumer interests. 

Public sector banks are set to see further governance and technology-driven reforms aimed at improving efficiency and competitiveness. The Budget also includes the restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), alongside a comprehensive review of the Foreign Exchange Management (FEMA) (non-debt instruments) Rules. 

Additionally, the Budget underscores the growing role of non-banking financial companies (NBFCs) in expanding credit access and calls for deeper insurance penetration. It further provides an incentive of ?100 crore for single issuance of municipal bonds of more than ?1,000 crore and introduces a market-making framework and total return swaps on corporate bonds—supported by tax measures such as raising the STT on futures from 0.02% to 0.05% and increasing STT on options premium and exercise of options to 0.15% from 0.1% and 0.125%, respectively. 

Together, these measures point to a reform-led push to build a stronger, more inclusive financial ecosystem.”

Manish Sharma, Sector Leader – Infrastructure, Transport and Logistics, PwC India 

“After more than 30% increase in capex between FY23 and FY25, the budget has now settled down to a modest growth of around 11% in FY26 and now to 9% for FY27. The emphasis is now shifting towards enabling better execution. Launch of initiatives like a partial credit guarantee mechanism is one such intervention, where a large number of new project developers are entering into PPP opportunities, with the likelihood of user charge-based PPP projects like toll roads gaining traction, this could increase the risk profile for lenders and impact financial closures. Therefore, credit guarantee mechanisms should address the concerns of lenders; however, these mechanisms need to work before the default and not after a default has occurred. 

Setting up seven new high-speed rail corridors and DFCs is another welcome step; however, launching these developments needs to be tied down to iron-clad, irrevocable state government commitments on aspects like land, first and last mile access arrangements, and security to ensure time-bound execution. 

REITs for surplus CPSE lands are a long-overdue intervention; if effectively implemented, it could lead to a significant asset monetisation opportunity. The focus on creating a domestic capability in construction and infrastructure equipment and container manufacturing is a positive move to address the vulnerability that supply chain disruptions can cause to the country’s infrastructure and trade agenda.

Finally, the creation of City Economic Regions is a welcome step to check the unplanned and uncontrolled proliferation of Tier 2 and 3 cities and, capitalise on the economic opportunities they present, though this will require reforms to happen in tandem with creation of CERs,  inclusion of peri-urban regions in municipal limits, recognising industrial clusters as an integral part of city planning, and extending reliable and quality municipal services to such regions.”

Shashi Kant Singh, Partner  -Agriculture – Food – Agribusiness, PwC India  

“Budget 2026-27 underscores India’s commitment to enhancing agricultural innovation, improving export competitiveness, and promoting women’s empowerment in agriculture—key pillars of the Viksit Bharat strategy. Focused support for high-value crops, along with special incentives for the fisheries and dairy sector, aims to augment farm incomes while strengthening India’s global agricultural competitiveness and boosting exports.”

Arvind Chandra, Whole Time Director & CEO Tenneco India

“The Union Budget 2026–27 provides a strong growth-oriented platform for India’s auto components and manufacturing sectors, with a clear emphasis on competitiveness, infrastructure investment, and resilient supply chains. The allocation of ₹12.2 lakh crore towards infrastructure development, including highways, logistics, and urban infrastructure, will create a significant multiplier effect on vehicle demand, directly benefiting the auto components ecosystem. A strategic focus on policy stability and export competitiveness will further strengthen supply chains and generate employment across the value chain. Measures supporting clean mobility and sustainable technologies, including incentives for EV supply chains and battery manufacturing, are welcome steps toward a balanced transition. We believe this Budget will catalyse long-term investments in technology, localisation, and clean mobility solutions, reinforcing India’s position in advanced automotive engineering and emission control.”

Abhay Parnerkar, CEO, Godrej Foods Ltd

“The Union Budget 2026 reflects a strong and welcome focus on strengthening India’s Agri and animal husbandry ecosystem. The government’s push towards credit-linked support for animal husbandry, the development of farmer-producer organizations, and integrated approaches to improving farmers’ incomes will go a long way towards reinforcing resilient, future-ready food value chains. At Godrej Foods Ltd, our farm-to-fork model is built on deep partnerships with farmers, who remain central to everything we do, from quality and traceability to consumer trust. Continued investment in agricultural infrastructure, innovation, and manufacturing capabilities not only empowers farmers but also enables food brands to deliver safe, nutritious, and responsibly produced food to Indian households. These measures signal a positive step towards building a more sustainable and inclusive food economy.”

Kadwin Pillai, Managing Director of Transworld Educare

“Budget 2026 reflects a strong commitment to inclusive and aspiration-led growth through the Government’s three Kartavyas, with a clear focus on empowering youth and strengthening access to healthcare and education. Initiatives to upgrade allied health institutions, train caregivers, establish regional medical hubs, and strengthen the AYUSH ecosystem signal a long-term vision to position India as a global hub for medical education and medical value tourism. Measures such as the reduction in TCS on overseas education and medical studies further ease access for students and families aspiring to global-quality healthcare education.”

Santosh Iyer, MD & CEO, Mercedes-Benz India.

“Budget’s strong focus on infrastructural development, with addition of Rs 1 lakh crore in capex, is a step in the right direction, developing the country’s evolving mobility ecosystem. Better highways and improved intercity connectivity have historically driven luxury car demand in India. The fiscal prudence reflected in the 4.3% deficit target, combined with a strong focus on exports, sends a strong signal of macroeconomic stability, which may lead to a less volatile currency. Overall, the emphasis of the budget is on strengtheningthe ease of doing business, and the deferral of customs duty payments up to 30 days can improve cash flow significantly. This budget primarily focuses more on long-term gains, rather than immediate ones.”

Veena Khandke, SVP, Managing Director, Ensono (India)

“The Union Budget 2026 represents the Government of India’s bold commitment to positioning the IT services sector as the cornerstone of ‘Viksit Bharat.’ As a global leader in cloud migration, mainframe modernization, and digital transformation, Ensono applauds game-changing reforms that boost ease of doing business. The Safe Harbor threshold expansion to ?2,000 crore with automated approvals and fast-tracked two-year Advance Pricing Agreements establishes tax certainty, encouraging foreign investment and innovation in India’s technology sector.

Equally transformative is the tax holiday until 2047 for cloud service providers leveraging Indian data centers. This landmark policy positions India as a global hub for cloud computing, unlocking opportunities in hyperscale infrastructure, enterprise cloud solutions, cybersecurity, and AI-powered managed services – areas central to Ensono’s expertise.

The government’s focus on workforce development through artificial intelligence upskilling, quantum computing initiatives, and STEM education for women ensures India builds future-ready talent. By creating pathways from education to entrepreneurship, Budget 2026 supports India’s ambitious target of capturing 10% global IT services market share by 2047.

These strategic measures reinforce technology as an economic growth driver, positioning India for sustainable competitiveness in the global digital economy.”

Mukund Vasudevan, MD, SKF India (Industrial) Limited, and President – India, Southeast Asia, and Middle East

“The Union Budget 2026–27 delivers a clear, confidence‑boosting push for India’s industrial growth. Despite maintaining fiscal discipline, the higher public CAPEX of ₹12.2 lakh crore signals strong momentum for manufacturing and infrastructure.

Reforms focused on financial access, technology adoption, and competitiveness lay the groundwork for long-term industrial strength – key for India to scale and compete alongside global players. Investments in freight and industrial corridors, along with logistics upgrades, will lower costs, strengthen supply chains, and make Indian manufacturing more efficient.

MSME-focused steps such as the Growth Fund and an expanded TReDS ecosystem should ease liquidity and improve access to capital. Overall, the Budget reinforces India’s direction toward localization, private investment, and resilient industrial growth, giving businesses greater clarity and confidence to scale.”

Baba Kalyani, CMD, Bharat Forge Ltd.

“The Union Budget 2026 reflects the hallmark of Prime Minister Modi’s stable, strong, and visionary leadership, anchored in policy continuity, fiscal discipline, and a clear focus on building long-term national capabilities.

I congratulate the Hon’ble Finance Minister on her ninth successive Budget, which strikes a careful balance between macroeconomic stability and sustained investment-led growth. The articulation of a multi-pronged growth framework and the three kartavyas reinforces the commitment to building a competitive, inclusive, and future-ready economy.

At a time of heightened geopolitical and supply-chain uncertainty, these measures are bound to strengthen India’s economic resilience and global positioning, sending a strong signal to both Global and Indian investors.

Through this budget, the government’s bet on Manufacturing is reinforced; special emphasis on modern infrastructure, high-speed rail corridors, healthcare, and cities as engines of growth is timely and strategic. The progression of the semiconductor programme to ISM 2.0 through ecosystem development, alongside the announcement of rare-earth corridors across eastern and southern India, will significantly strengthen domestic supply chains. Equally important is the focus on green competitiveness, with meaningful allocations for carbon capture and decarbonisation, aligning sustainability with industrial performance.

Aligned with the geo-strategic realities, the defence sector emerges as a key pillar of this Budget. With defence receiving the second-highest allocation with about 25% increase in the modernisation budget, the emphasis is firmly on upgrading platforms, systems, and technologies, while improving procurement efficiency. The message to industry is clear: deepen long-term capability, technology, and Aatmanirbharta or self-reliance.

I laud Madam Minister’s special thrust on Information Technology Services for companies setting up Data Centers and Cloud Services from India; the 22-year tax holiday for such investments is a well-thought-out initiative aimed at Global leadership in this segment.

Finally, the focus on university-industry clusters and AI-led productivity will help India fully leverage its demographic dividend. Overall, the Budget provides the industry the confidence to invest, innovate, and partner in building a globally competitive Indian economy.”

Challa Sreenivasulu Setty, Chairman, SBI & Chairman, IBA

“The Union Budget 2026-27 maintains policy continuity, tax predictability, while attempting a fine balancing act between rural and urban, legacy and sunrise sectors. Structurally, the budget has continued its focus on emerging sectors with notable scaling up in manufacturing, coupled with a focus on semiconductors, data centres, AI, and infrastructure.

The announcement on setting up a dedicated SME Growth fund and mandate on TREDS backed by Credit Guarantee Support will definitely act as a key driver for the MSME sector. Major initiatives in Pharma, tourism, skilling, and sports will further facilitate development and employment generation.

The financing aspect of Viksit Bharat has been elaborately addressed with measures such as Committee on Banking, the Infrastructure Risk Guarantee Fund, the recycling of CPSE real estate assets, and the extension of tax holiday for GIFT City. On the fiscal front, effective capex has been targeted at Rs12.2 lakh crore, and fiscal deficit consolidation will continue, expecting to reach around 4.3% of GDP and debt-to-GDP ratio at 55.6% of GDP, which augurs well, given the current volatile geoeconomic environment.”

Aloke Singh, Managing Director, Air India Express

“The Union Budget 2026–27 sends a strong and reassuring signal for India’s long-term growth, anchored in fiscal discipline and a sustained push on infrastructure-led development. The continued emphasis on capital expenditure and destination-focused investment provides a solid structural framework for the expansion of tourism and, by extension, the civil aviation sector.

The Budget’s focus on strengthening medical value tourism and destination development is particularly relevant for aviation, as it creates high-frequency, purpose-driven inbound travel, especially from regions such as the Middle East and Southeast Asia. At the same time, the emphasis on developing heritage, archaeological, and eco-tourism destinations across multiple states will stimulate demand for air connectivity to Tier-2 and Tier-3 cities, supporting the next phase of domestic aviation growth.

Importantly, the parallel focus on skilling and professionalising the hospitality and tourism workforce addresses the capacity and service-quality requirements needed to sustain this growth. Taken together, these measures create an ecosystem in which airlines like Air India Express are well positioned to play a meaningful role.”

Aparna Reddy, Executive Director, Aparna Enterprises Ltd.

“We welcome the Union Budget 2026–27, which reinforces infrastructure as a key pillar of India’s growth journey. The enhanced capital expenditure allocation of ₹12.2 lakh crore signals continued support for large-scale construction and connectivity projects, helping sustain momentum across the infrastructure ecosystem. The proposed Infrastructure Risk Guarantee Fund addresses an important challenge in project execution by helping mitigate risks during the construction and early development phases. By improving financing confidence for developers and lenders, this measure can contribute to stronger project viability and more predictable execution timelines.

The Budget’s emphasis on planned urban development through City Economic Regions, along with continued infrastructure expansion in Tier II and Tier III cities, reflects an approach that supports more balanced urban growth beyond traditional metropolitan centres. As these emerging cities continue to grow, improved connectivity and infrastructure are expected to drive demand for housing, commercial real estate, and supporting urban amenities. This expansion will translate into sustained construction activity and steady demand for high-quality building materials such as cement and concrete. The scale and spread of infrastructure initiatives outlined in the Budget create a conducive environment for long-term capacity building in the construction sector, supporting the development of resilient cities and addressing the evolving needs of a rapidly urbanising population.”

Navin Kumar, Managing Director, Navin’s.

“The Union Budget 2026–27 has reinforced support for the housing sector with the announcement of a ₹15,000-crore SWAMIH Fund to expedite the completion of nearly one lakh stalled housing units, a move expected to ease liquidity stress among developers and boost homebuyer confidence. Measures to raise disposable incomes and the continued thrust on urban development are also likely to support housing demand, particularly in the affordable and mid-income segments. In addition, the simplification of taxation and compliance processes for NRI property transactions is a welcome step that will improve ease of investment, enhance transparency, and encourage stronger participation from NRIs in India’s residential real estate market.”

Balbir Singh Dhillon, Brand Director, Audi India

“The Union Budget’s strong emphasis on infrastructure and capital expenditure is a positive enabler for India’s mobility landscape.

Improved highways and intercity connectivity, especially across Tier-II and Tier-III markets, are strengthening the ownership and usage ecosystem for luxury automobiles.

The government’s focus on fiscal prudence, macroeconomic stability, and ease of doing business reinforces confidence for long-term investments in the automotive sector.

Initiatives like the development of rare earth corridors and the advancement of ISM 2.0 under the India Semiconductor Mission are timely and critical. They signal a clear intent to build resilient domestic supply chains and a technology-driven manufacturing ecosystem that will support the future of automotive and electric mobility in India.”

The post Union Budget 2026-27 Highlights: Significant Quotes appeared first on NRI News.

MUMBAI: The Indian economy could become the world’s third-largest economy in the next two to three years. Such opportunities have also come our way. Trade agreements with Britain, New Zealand, the United Arab Emirates, and the European Union are expected to lead to a big jump in export growth. However, at the same time, concrete measures were needed in the latest budget to encourage investment in India by NRIs, as well as to increase investment in the retail sector in India, said Dr. Dhananjay Datar, Chairman of Adil Group of Super Stores and Masala King.

Welcoming the Union Budget announced today, Masala King Dr. Dhananjay Datar said, “ The retail sector has the latent potential to give immense strength to the Indian economy, but either there are very few professionals in this sector in India, or those who are cannot compete effectively in the international market due to the high tax burden. As a solution, the government should reduce the tax burden on these professionals and the general public and encourage NRIs as well as international businesses to invest directly in the retail sector in India.”

Dr. Dhananjay Datar further said, “Compared to the huge population of India and the huge turnover in the retail market, the number of professionals in this sector is still not sufficient. Therefore, Indians go abroad to do business, but there is no large-scale employment generation in the country. The local wage scale is also not attractive compared to foreign countries. As a solution to this, if the government attracts NRI and international businesses to the Indian retail sector by providing tax incentives and encouraging foreign direct investment (FDI), new jobs and direct and indirect employment will be created here, employees will also get good salaries and if the number of professionals increases, the prices of goods will come down due to competitiveness and the common man will get goods at a cheaper price. Many NRIs do good business all over the world, but are not willing to invest in India. This picture needs to change.”

Explaining that India’s retail sector has immense latent potential and the future is very promising for India, Dr. Datar said that while India was a buyers’ market a few years ago, it has now become a sellers’ market.

The post Analyzing the Latest Budget: Concrete Steps for Enhancing NRI Investment and Strengthening India’s Retail Sector appeared first on NRI News.

Marking a landmark moment coinciding with ARAI’s Diamond Jubilee Year, SIAT 2026 brought together global leaders, technocrats, researchers, policymakers, and innovators under the theme “Innovative Pathways for Safe and Sustainable Mobility.” The Global Automotive Safety Regulations Book, SIAT 2026 Proceedings, and Technical Reference Papers, published by ARAI, were also launched by H. D. Kumaraswamy.

In his inaugural address, the Chief Guest, H. D. Kumaraswamy, commended ARAI for its 60-year journey of contributions to India’s automotive ecosystem. Highlighting India’s rapid economic progress toward becoming the world’s third-largest economy, he emphasized the Government of India’s strong push for sustainable, technology-driven mobility through initiatives such as the Capital Goods Scheme, FAME scheme, PM e‑Drive Scheme, and the PLI schemes. He commended the automotive sector’s crucial role in growth in manufacturing, exports, advanced R&D, and emerging software-led mobility solutions.

He further mentioned that “looking at the scale of this conference, depth of technical content to be presented and impressive expertise gathered here, I believe this event will result in an exciting exchange of information generating new knowledge and ideas showing pathways for India’s 2047 and 2070 resolutions of being a developed country and achieving a net zero emissions”.

Furthermore, the percentage of pollution caused by public transport vehicles in India is 40 percent, and to reduce this, the central government is promoting the use of electric vehicles. H.D. Kumaraswamy also mentioned plans to increase the number of charging stations across the country in the coming period.

Kumaraswamy expressed confidence that the agreements reached with the European Union under the leadership of Prime Minister Narendra Modi will have a positive impact on both the Indian and European markets. He also stated that the Indian automotive industry will not only expand domestically but will also make its mark on the international market in the coming years.

Addressing the gathering, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles & Tata Passenger Electric Mobility, highlighted the automotive industry’s ongoing global transformation driven by emerging technologies. He noted India’s rising global stature—now the world’s largest producer of three‑wheelers, among the top two in two‑wheelers, top four in passenger vehicles, and top five in commercial vehicles, with record vehicle exports in 2025.

During the event, the Hon’ble Minister, H. D. Kumaraswamy, inaugurated the following state‑of‑the‑art mobility test and research facilities at Takwe, Pune.

1. Advanced Driver Assistance Systems (ADAS) Smart City Test Track
2. Cylinder Testing Facility
3. High Energy Impact Test Facility

Prasan Firodia, Managing Director – Force Motors, and Vice President – ARAI Governing Council, while welcoming the Hon’ble Minister and the participants, commended the Government’s role through various schemes for the automotive sector and appreciated ARAI’s role in the growth of the automotive Industry.

Dr. Reji Mathai, Director – ARAI & Chairman-Advisory Committee, SIAT 2026, stated that the symposium with more than 250 presentations reaffirmed the shared responsibility of global stakeholders to advance safety, sustainability, and next‑generation mobility technologies.

Moreover, he stated that the SIAT Expo 2026, featuring 275 exhibitors from 10 countries showcasing cutting-edge technologies and dedicated pavilions for Start-ups, MSEs, ADAS,  and Software-Defined Mobility, will provide the latest information to those looking for future developments. Further, a major highlight will be the Students’ Poster Presentation Competition, enabling undergraduate, postgraduate, and PhD students to showcase innovations and interact with industry and research leaders.

Dr. N. H. Walke, Senior Deputy Director – ARAI and Convener – SIAT 2026, offered a vote of thanks. Juhi Malhotra anchored the event. With strong international participation, impactful discussions, and the launch of advanced testing infrastructure, SIAT 2026 reaffirms ARAI’s commitment to driving safer, cleaner, and smarter mobility for India and the world.

The post Hon’ble Minister H. D. Kumaraswamy Inaugurates SIAT 2026: A New Era for Heavy Industries in Pune appeared first on NRI News.

The Republic Day holiday, falling on a Monday, acted as a catalyst for travel, compared to last year when the January 26 holiday fell on a Sunday. The spike starts on January 23 (Friday) and peaks on January 24 (Saturday), as travellers start their trips early to make the most of the extended weekend

TOP 5 DOMESTIC LEISURE DESTINATIONS

Domestic leisure travel trends for the Republic Day long weekend showed both continuity and shifts year-on-year. In 2025, Goa led the list of top destinations, followed by Udaipur, Jaipur, Manali, and Munnar. In 2026, Goa retained its top position, while Jaipur and Udaipur swapped ranks to take the second and third spots, respectively. Manali continued to feature among the top four destinations, and Pondicherry entered the top five in 2026

SPIRITUAL TRAVEL IS SEEING STRONG DEMAND

In terms of spiritual travel, destinations such as Puri, Varanasi, Amritsar, Ayodhya, Ujjain, Dwarka, Udupi, and Tirupati are seeing strong demand.

TOP 5 INTERNATIONAL DESTINATIONS

In 2025, the UAE emerged as the most preferred international destination, followed by Thailand, Singapore, Malaysia, and Saudi Arabia. In 2026, Thailand moved to the top spot, with the UAE close behind in second place. Vietnam stood out this year, rising sharply from 10th position in 2025 to become the third most booked international destination for the long weekend. Malaysia retained its fourth position, while Singapore featured fifth among the top international choices.

TOP 5 INTERNATIONAL DESTINATIONS FROM KEY METRO CITIES

• Delhi travellers showed a preference for Dubai, followed by Bangkok, Phuket, Kuala Lumpur, and Bali.
• From Mumbai, Dubai emerged as the top destination, with Bangkok, Phuket, Singapore, and Colombo also featuring among the top five.
• Bengaluru travellers favoured Bangkok most, followed by Dubai, Phuket, Colombo, and Singapore.
• Chennai saw Bangkok lead outbound travel choices, followed by Dubai, Singapore, Kuala Lumpur, and Colombo.
• From Kolkata, Bangkok ranked highest, with Kuala Lumpur, Phuket, Dubai, and Singapore completing the list of top international destinations

TOP 5 DOMESTIC DESTINATIONS FROM KEY METRO CITIES

• Travellers from Delhi preferred Goa the most, followed by Jaipur, Rishikesh, Mussoori, and Udaipur.
• From Mumbai, Goa led domestic choices, with Lonavala, Alibag, Mahabaleshwar, and Karjat rounding off the top five.
• Bengaluru travellers showed a strong preference for Goa, followed by Mysore, Coorg, Pondicherry, and Wayanad.
• Chennai’s top domestic destinations included Goa, Auroville, Yelagiri, Yercaud, and Ooty.
• From Kolkata, Mandarmani emerged as the most preferred destination, followed by Digha, Darjeeling, Go,a and Shantiniketan

TOP 5 DOMESTIC HOLIDAY PACKAGE DESTINATIONS

1. Kerala
2. Andaman
3. Goa
4. Rajasthan
5. Tamil Nadu

TOP 5 INTERNATIONAL HOLIDAY PACKAGE DESTINATIONS

1. Thailand
2. Vietnam & Cambodia
3. UAE
4. Maldives
5. Indonesia

“The appetite for weekend travel remains strong, with the extended Republic Day weekend presenting an opportunity for travel. There is a preference for nearby destinations, evident in the top travel choices from each metro. That said, Goa remains the favourite leisure destination within India. Internationally, the skew towards easy-visa destinations continues to gain traction. Countries with direct connectivity to multiple cities are leading demand, with Thailand at the forefront and Vietnam also performing strongly.” – Rajesh Magow, Co-founder & Group CEO, MakeMyTrip

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