Industry Leaders Welcome Union Budget 2026, Highlight Focus on Growth, MSMEs, Skilling, Healthcare and Innovation
New Delhi, Feb 2: Industry leaders across healthcare, MSMEs, education, manufacturing, mobility, financial services, and creative industries have broadly welcomed the Union Budget 2026, calling it a balanced and forward-looking roadmap that reinforces India’s long-term growth ambitions while maintaining fiscal discipline.
The Budget’s emphasis on capital-led growth, MSME financing, skilling, healthcare infrastructure, green mobility, and innovation-driven development has been widely acknowledged as a strong signal of policy continuity and confidence.
Strengthening Agriculture, Food Systems and Rural Livelihoods
Mr. Sasikumar Kallanai, Co-founder & CEO, TenderCuts, noted that the Budget’s focus on agriculture and allied sectors such as fisheries and animal husbandry will strengthen India’s protein ecosystem. Measures supporting Fish FPOs, women-led groups, veterinary infrastructure, and AI-led AgriStack integration are expected to improve traceability, supply consistency, and income stability for producers.
Consumer Confidence and Discretionary Spending
Mr. Paul Alukkas, Managing Director, Jos Alukkas, said the Budget reinforces confidence by targeting ~7% growth while continuing fiscal consolidation. Rationalisation of TDS and lower TCS on overseas education expenses are expected to improve disposable incomes, supporting discretionary spending, especially in tier-2, tier-3, and rural markets.
Green Mobility and Manufacturing Push
Mr. Nemin Vora, CEO, Odysse Electric, welcomed the government’s focus on local EV component manufacturing and middle-class purchasing power. Enhanced MSME credit guarantees and green mobility incentives were seen as critical enablers of India’s Atmanirbhar mobility ecosystem.
Financial Inclusion and MSME Credit
Mr. Vivek Singh, CEO, Home Credit India, highlighted the ₹10,000 crore SME Growth Fund and ₹2,000 crore micro-enterprise risk capital top-up as vital steps to strengthen community-level financing, job creation, and sustained consumption. Infrastructure spending and MSME compliance support through Corporate Mitras are expected to improve borrower resilience.
Manufacturing, Housing and Infrastructure Growth
Mr. Manoj Tulsian, CEO & Joint MD, Greenply Industries, said continued public capex and infrastructure focus will boost housing demand in non-metro regions, benefiting organized manufacturers and skilled workers. He also welcomed reforms that simplify compliance and strengthen MSME clusters.
Cooperative and Digital Economy Reforms
Shri Prabhat Chaturvedi, CEO, NUCFDC, termed the Budget a continuation of India’s long-term development vision. Cooperative-focused tax measures, MSME funding support, and the proposed high-level banking committee were described as important steps toward safer, more inclusive credit expansion and global competitiveness.
Mental Health and Neurodevelopmental Care
Mr. Jaishankar Natarajan, CEO & Director, India Autism Center, welcomed the announcement of a second NIMHANS, calling it a meaningful shift toward expanding mental health and neuroscience infrastructure. He highlighted the importance of skilled caregiving alongside institutional capacity.
Infrastructure and Energy Transition
Mr. Sharan Bansal, Director, Skipper Limited, said the increase in capital expenditure to ₹12.2 lakh crore reinforces infrastructure-led growth and provides long-term visibility for manufacturers in power and grid systems, while maintaining fiscal stability.
Research, Innovation and Education
Mr. Vikram Aditya Sahoo, Director – Research & Innovation, SAI International Education Group, welcomed enhanced funding for research infrastructure, biopharma clinical trials, AYUSH research, and carbon capture technologies, calling them transformative for education and innovation-led growth.
Entrepreneurship and MSME Ecosystem
Dr. Sunil Shukla, Director General, EDII, said the recognition of MSMEs as ‘Champion Enterprises’ and support for women-led initiatives such as SHE-Marts will enable sustainable enterprise ownership and job creation.
Biopharma and Healthcare Manufacturing
Dr. K. Anand Kumar, MD, Indian Immunologicals Ltd, described the ₹10,000 crore BioPharma SHAKTI initiative as a defining moment that can elevate India from a volume-driven vaccine supplier to an innovation-led global biopharma hub.
MSME Growth Beyond Metros
Dr. Irfan Khan, Chairman, EBG Group, highlighted reforms in TReDS, invoice discounting, and compliance support as critical for manufacturers in tier-2 and tier-3 towns, enabling decentralised and sustainable industrial growth.
Skilling, AI and Youth Empowerment
Mr. Rahul Attuluri, CEO & Co-Founder, NxtWave, and Mr. Karun Tadepalli, Co-Founder & CEO, byteXL, described the Budget as “Yuva Shakti–driven,” applauding its focus on AI, employability, education-to-employment pathways, and digital infrastructure.
Creative Economy and AVGC Sector
Mr. Rajiv Chilaka, Founder & CEO, Green Gold Animation, said the AVGC Content Creator Labs initiative will build a strong talent pipeline, boost regional creators, and position India as a global hub for animation and gaming.
Grassroots Finance and Rural Growth
Mr. Murty LVLN, CEO, Dvara KGFS, said the Budget reinforces the importance of strengthening rural incomes and last-mile finance through AgriStack, infrastructure investments, and MSME credit reforms.
Banking and Debt Market Reforms
Mr. Chandan Churiwal, CEO & Whole-Time Director, Assets Care & Reconstruction Enterprise Ltd. (ACRE), described the Budget as mature and fiscally prudent, noting that maintaining the fiscal deficit at 4.3% while introducing sectoral reforms and proposing a high-level banking review committee will strengthen debt markets and accelerate consolidation.