Reassuring signal of continuity, credibility from Budget, say Industry bodies & corporate world

Terming Union Budget 2026-27, presented in Parliament by Finance Minister Nirmala Sitharaman on Sunday, ”positive”, industry bodies and the corporate world said the Budget sends a reassuring signal of continuity, credibility, confidence, and long-term vision for the country’s development journey.

Reacting to the Budget, industry body PHDCCI said it welcomes and strongly supports the Union Budget 2026–27 initiatives aimed at expanding manufacturing across strategic and sunrise sectors.

Advertisement

The focus on the BioPharma Shakti Yojana to position India as a global biopharma manufacturing hub, along with the upcoming India Semiconductor Mission (ISM) 2.0, reflects a forward-looking approach to strengthening India’s industrial capabilities.

The enhanced outlay of Rs 40,000 crore for electronic component manufacturing, creation of dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu, establishment of three new chemical parks, and new schemes for capital goods and infrastructure equipment manufacturing are commendable steps.

“Union Budget 2026–27 takes a strong step towards increasing farmers’ income with the launch of Bharat-VISTAAR, a multilingual AI-powered platform to enhance farm productivity, enable informed decision-making, and reduce risks through customised advisory support,” the PHDCCI said.

Meanwhile, the Confederation of Indian Industry (CII) said the Union Budget 2026-27, with its next‑generation reforms, builds confidence, and its thrust on public capital expenditure will enhance private investment.

The increase in public capital expenditure to Rs 12.2 lakh crore, with effective capital expenditure exceeding Rs 17 lakh crore, will crowd in private investment, strengthen infrastructure, and improve productivity across sectors, the industry body said.

“At a time of heightened global uncertainty, the Budget sends a reassuring signal of continuity, credibility, confidence, and long-term vision for India’s development journey,” said Chandrajit Banerjee, Director General, CII.

Corporate world has also welcomed the announcements made in the Budget in pharma, real estate and healthcare sectors.

“Biopharma Shakti is not just another government scheme; it marks the moment India moves from being the world’s ‘back-office pharmacy’ to becoming an innovation engine,” said Dr Santosh Moses, Partner and Pharma, BioTech and Life Sciences Leader, Grant Thornton Bharat.

“We welcome the Finance Minister’s balanced macroeconomic strategy, with a record capital expenditure and robust infrastructure allocation under the Viksit Bharat vision, reinforcing infrastructure as a catalyst for economic resilience. The expanded focus on Tier-2 and Tier-3 cities and the development of City Economic Regions and new connectivity corridors are set to unlock fresh consumption and growth hubs,” said Shriram PM Monga, Co-Founder and Principal Consultant, SRED Real Estate Advisory.

“By fast-tracking the Labour Codes, the government is accelerating formalisation—a move that fundamentally expands the addressable market for organized leaders like SIS Limited,” said Rituraj Sinha, MD, SIS Limited.

“The Union Budget 2026 is a strong and forward-looking step for the healthcare sector. With a focus on expanding healthcare infrastructure, investing in medical education, and promoting affordable treatment, it will make healthcare services more accessible and efficient across the country,” said Dr. Sanjay Gupta, Senior Director, Yatharth Super Speciality Hospital, Model Town.