Quote From Ms. Madhumita Agrawal, Founder & CEO, Oben Electric
"The Union Budget's focus on expanding the Rare Earth Permanent Magnet Scheme and building dedicated rare earth corridors is a positive step towards reducing import dependence for critical materials used in EV manufacturing. Rare earth magnets, which are key components in electric motors, benefit directly from this initiative, and strengthening capabilities across mining, processing and advanced manufacturing will create a more reliable domestic supply base.
The India Semiconductor Mission 2.0 and the Electronics Components Manufacturing Scheme will help build domestic capabilities in semiconductors and other electronic components, strengthening the supply chain for critical EV systems and reducing dependence on imports
As electric motorcycle manufacturing scales in India, such measures are particularly relevant for manufacturers with end-to-end, in-house development and manufacturing capabilities, supporting localisation and long-term supply stability." -- said Ms. Madhumita Agrawal, Founder & CEO, Oben Electric
Quote From Mr. Kunal Arya, Co-founder & MD at Zelio E Mobility
"India's electric two-wheeler segment has gained strong momentum, and the Union Budget 2026–27 takes a step toward scaling it into a full industrial ecosystem. Focusing on rare earth magnets and dedicated corridors in mineral-rich states is crucial to secure the materials that power electric drivetrains. Reducing customs duty on capital goods for lithium-ion batteries will help lower costs and support local manufacturing. India Semiconductor Mission 2.0 and the enhanced Electronics Component Manufacturing Scheme will strengthen supply chains, promote full-stack Indian IP, and accelerate battery and component localisation. This is pleasing to see how the government focuses on MSMEs—through credit guarantee support of ₹10,000-crore SME Growth Fund, it will further empower companies like ours to expand capacity, innovate faster, and compete globally. For Zelio, these measures provide a clear and stable pathway to scale Make in India electric two-wheelers that are affordable, reliable, and designed for mass adoption across Tier II, Tier III, and emerging markets. As the ecosystem matures, further momentum can be unlocked through targeted PLI support for battery cells and motor controllers, along with rationalisation of GST on electric two-wheelers to enhance affordability and widen consumer access." -- said Mr. Kunal Arya, Co-founder & MD of Zelio E Mobility
Quote from Mr. Sameer Moidin, Founder & CEO of EVeium Smart Mobility
"Electric two-wheelers today need far more semiconductor and electronic content than ICE vehicles, but the sector is still largely dependent on imports for chips and key components. Steps like the India Semiconductor Mission 2.0 and the enhanced ₹40,000 crore outlay for electronics component manufacturing are encouraging and move us in the right direction. The government's focus on rare earth permanent magnets and dedicated corridors in mineral-rich states, alongside the creation of high-tech tool rooms and chemical parks, will strengthen domestic mining, processing, and component manufacturing while reducing import dependence. The reduction of basic customs duty on capital goods for lithium-ion batteries is another significant measure that can lower production costs and support local manufacturing at scale. That said, the inverted GST structure remains a real challenge, with inputs taxed higher than finished EVs. Fixing this imbalance will be critical to truly strengthen India's EV manufacturing ecosystem and make electric two-wheelers more affordable and scalable for mass adoption." -- said Mr. Sameer Moidin, Founder & CEO of EVeium Smart Mobility
Mr. Pratap Jain, Founder and CEO, ChanaJor OTT
"Budget 2026 shows that creativity and enterprise are now intertwined with India's growth story. From skill-building to heritage digitization, the government is creating an ecosystem where ideas, culture, and technology come together. For the industry, this is a moment to embrace new opportunities, expand horizons, and help position India as a hub of innovation and creativity on the global stage."
"Budgets should be seen as a continuum. Instead of expecting new announcements every year, one should see the trajectory of how successive budgets are adding up. Budget 2026 continues to reinforce the financial and institutional foundations essential for the PMs vision of Viksit Bharat by 2047," said Dheeraj Gupta of Jumboking Burgers.
Union Budget 2026-27 quote from Mr. Gautam Khanna, CEO, P.D. Hinduja Hospital & Medical Research Centre, Mumbai "The Union Budget 2026-27 builds on to the government’s focus on strengthening India’s healthcare system and adopts a broad based and people centric approach. This year the focus has been clearly on improving affordability, expanding workforce, enhancing infrastructure and building emerging care needs.
The announcement to add 1 lakh Allied Healthcare Professionals over the next five years by upgrading existing and establishing new institutions will help in addressing critical gaps in diagnostics, peri-operative care, mental and behavioural health, and rehabilitation. With government targeting to train 1.5 lakh caregivers will go a long way in creating a comprehensive geriatric and allied care system and is timely given India’s increasing elderly population. This futuristic measure will help in easing the lives of our senior citizens and help create necessary infrastructure and workforce to assist them in leading healthy lives.
Hon’ble FM’s proposal to support states in establishing regional medical hubs in partnership with the private sector will give a huge boost to India’s medical tourism industry and strengthen our potential to deliver quality services at scale. These hubs will integrate all medical services with diagnostics, treatment, rehabilitation, education and research under one hub.
The exemption of Basic Customs Duty on 17 drugs and medicines used in cancer treatment alongside the extension of import duty exemptions to drugs, medicines and Food for Special Medical Purposes for seven additional rare diseases is one of the most impactful measures. This will provide much needed financial relief to patients and their families and reduce high out of pocket expenses for long term and lifesaving treatment.
These initiatives and critical announcements will help lay a strong foundation to improve access, affordability, build and skilled workforce. Strengthening trauma care infrastructure by establishing Emergency and Trauma Care Centres across district hospitals and increasing existing capacities is a welcome move however, it would have been more encouraging for further infrastructure development by providing simplified access to long-term financing in smaller towns and rural areas beyond the major urban areas. It will also be exciting to see how the healthcare workforce skilling programs integrate digital healthcare modalities for enhanced access to affordable and quality healthcare services.
Overall, the budget has signaled a balanced approach addressing immediate healthcare needs and at the same time investing in building capacity for the future.”
Shubhendra Singh Thakur, CEO, Erlysign, a rapid, non-invasive saliva test for early detection of oral precancerous conditions.
"The Budget signals a positive intent to strengthen India's healthcare and biotechnology ecosystem, particularly through initiatives like Biopharma Shakti, which can play a meaningful role in advancing research, innovation, and domestic manufacturing. For health-tech and diagnostics startups, long-term funding support and a clear push toward innovation are essential to translating scientific breakthroughs into scalable, real-world solutions.
The steady increase in healthcare allocations over recent years, culminating in a higher outlay for FY26, reflects a growing recognition of the sector's importance. Continued focus on health research, early detection, and preventive care will be critical in improving patient outcomes while also positioning India as a global hub for affordable and innovation-led healthcare.",
Anish Popli, Founder & CEO, ProcMart
“With a sharp focus on manufacturing expansion and infrastructure creation, the Budget reflects a clear commitment to long-term industrial competitiveness and India's next phase of growth. As new factories, logistics corridors, and industrial clusters come online, the demand for structured and transparent MRO procurement will rise significantly. By strengthening MSME participation through TReDS, GeM integration, and targeted cluster rejuvenation, the Budget addresses long-standing inefficiencies in industrial supply chains. This creates a strong case for digital B2B platforms that connect enterprises with reliable suppliers, ensure compliance, and enable cost-efficient operations. Overall, the Budget signals a shift toward building resilient, data-driven supply chains that support sustained industrial productivity rather than one-time, capex-led growth.”
Dilip Modi, Founder & CEO, Spice Money
"Budget 2026 clearly articulates the government's kartavya to ensure that every family, community, and sector has access to resources and opportunities for meaningful participation in India's growth story. The focus on scaling manufacturing, rejuvenating legacy industrial clusters, creating champion MSMEs through a ₹10,000 crore fund, and strengthening banking and NBFC frameworks reinforces the central role of small enterprises in employment generation and local economic resilience.
MSMEs provide livelihoods to millions across rural and semi-urban India, and initiatives such as mandating TReDS for CPSU purchases, improving credit flow, and reviewing the banking system for Viksit Bharat will directly strengthen their financial sustainability. The proposed Bharat Vistar platform and the broader emphasis on technology-led productivity also signal a clear intent to ensure that growth reaches farmers, micro-entrepreneurs, and underserved communities.
For last-mile fintech platforms, this budget creates a strong enabling environment to translate policy intent into on-ground outcomes by delivering credit, payments, and essential financial services to Bharat's smallest businesses and households, ensuring that inclusion remains at the heart of India's economic transformation."
Joydip Gupta, APAC Head at Scienaptic AI-
"It's encouraging to see the Budget continue to recognise the role of AI and technology in shaping India's growth story. For the financial services ecosystem, this focus creates a strong opportunity to use AI more meaningfully to improve credit decisioning, expand access to finance, and build more resilient lending systems. The broader push towards digital infrastructure and a review of the banking sector signals the government's intent to strengthen the foundations of the financial system. Over time, sustained policy support and regulatory clarity will be key to helping innovation translate into real, on-ground impact for lenders and borrowers alike."
Sohrab Bararia, Partner Grant Thornton Bharat-
"Focus on economic growth in sectors like biopharma mfg hubs, semiconductor ISM2.0, extension of electronic component mfg scheme, rare earth minerals, chemical parks, strong capital goods, container mfg scheme, textile sector scheme (man made, technical textile), global sports goods, champion MSME, ship repair, etc."
"From Factories to Frontiers: Budget 2026 Powers Growth in Manufacturing, Infrastructure, and Emerging Tech"Budget 2026 was presented against a backdrop of global geopolitical headwinds and expectations of slower medium‑term growth, with a clear focus on strengthening domestic manufacturing, ensuring inclusive development, promoting exports, facilitating trade, and providing relief to citizens.The proposals include a major push for domestic lithium‑ion battery production for mobile phones and electric vehicles, the addition products to the capital goods exemption list, and BCD exemptions on critical minerals not available domestically, alongside measures to unlock potential in the marine and maritime sector. On healthcare front, Customs Duty exemptions on 17 cancer drugs and duty‑free personal imports of medicines and food for seven additional rare diseases aim to ease the burden on patients with critical conditions.To promote ease of doing business, the time limit for finalizing provisional customs assessments has been extended to two years, with a possible one‑year extension alongside a proposed amendment on issuance of Post supply credit notes under GST and a complete end to end automated clearance during exports for e-sealed cargo.In the technology and services domain, amendments to Place of Supply rules for intermediary services is expected to provide greater certainty, enhance competitiveness, and reinforce India's position as a global IT hub."
Founded in 2018, Virohan is an education-to-industry partner enabling leading universities across India to deliver best-in-class undergraduate programs in Nursing, Optometry, MLT, Hospital Administration, OTT, MRIT and more. Using cutting-edge technology, learner-centric design, and deep industry partnerships, we equip students with skills that go beyond degrees, preparing them for meaningful, job-ready careers in healthcare.
As one of India's fastest-growing healthcare skilling companies, we're addressing the widening talent shortage in diagnostics and hospitals. Over the next decade, we aim to impact one million aspiring healthcare professionals and collaborate with 100+ universities to transform healthcare education at scale.
India is witnessing significant developments across diagnostics, hospital expansion and healthcare delivery. Despite this growth, surveys now show a 30–40% unmet demand for allied health professionals, and an estimated shortage of up to 6.5 million AHPs underscoring the deep employability gap in real clinical environments.
Agoda welcomes the Union Budget and congratulates the Government on placing travel and tourism firmly within India’s next phase of growth. The Budget recognises the travel sector as a practical engine for jobs, skills, and regional participation, while responding to how traveller preferences are changing across the country.
The focus on capability-building and destination readiness stands out. Measures such as setting up a National Institute of Hospitality, upskilling guides at iconic sites, and creating a National Destination Digital Knowledge Grid show a holistic approach that combines talent, technology, and storytelling. At the same time, investments in experiential destinations, sustainable nature-based trails, cultural sites, and global wildlife engagement reflect a clear intent to broaden travel beyond large cities and enable year-round demand across emerging destinations.
Overall, the Budget sends a clear message that tourism plays a role not only in economic expansion, but also in shaping how people explore India and the world. Agoda looks forward to supporting this momentum by improving discovery, choice, and booking ease for travellers as travel across India becomes broader and more experience led.
- To be attributed to Gaurav Malik, Country Director, Indian Subcontinent & Indian Ocean Islands at Agoda.
Leading industry voices have lauded the Union Budget as an inclusive, forward-looking and strategically crafted roadmap that balances fiscal prudence with growth, innovation and long-term national capacity building.
Mr. Parthiv Neotia, Sr. Vice President, ICC & Executive Director, Ambuja Neotia Holdings described this year's Budget as "very inclusive" and one of the most interesting in recent years. He highlighted the government's focus on emerging and high-growth sectors such as fisheries, semiconductors, artificial intelligence, the creative economy, hospitality and tourism, calling them key pillars of India's new economic landscape.
He further welcomed the strong push in bio-pharma, innovation and manufacturing, especially in light of India's growing burden of non-communicable diseases (NCDs). "It is encouraging to see substantial investment and focus in healthcare," he noted, pointing to the development of five regional medical tourism hubs as a major step in positioning India as a critical healthcare destination, not only for Indians but also for neighbouring countries seeking affordable, quality treatment.
Mr. Neotia emphasised the government's sustained efforts to reduce India's high logistics costs through infrastructure development, including new highways and the announcement of 20 waterways, which will help make products more affordable domestically and more competitive globally. He also underlined the role of the tax regime, tax incentives, tax holidays and policy measures in reviving foreign investment, noting that the Budget must be viewed alongside recent reforms such as GST 2.0, the India–EU trade agreement, FTAs and ongoing trade negotiations with the US.
For the common citizen, he said the strong focus on MSMEs stands out. "MSMEs are the backbone of Indian industry, employing lakhs of companies and crores of people. The equity infusion scheme for MSMEs will boost the middle layer of employment and economic development. Higher consumption and investment at this level will significantly strengthen the national economy," he added, stating that the Budget is largely designed to support MSMEs, new industries and foreign investment.
Mr. Keshav Bhajanka, Vice President ICC & Executive Director Century Plyboards (I) Ltd acknowledged the challenging global and domestic environment, including economic pressures and the impact of US tariffs on several sectors. He praised the government's fiscal discipline, particularly the 4.3% fiscal deficit target, and the ₹12 lakh crore plus infrastructure investment. He noted that sectors such as pharma, handicrafts, textiles and MSMEs, which have been under pressure, have received support. "While there may be nothing dramatic, this is a good, steady budget in the right direction, especially considering the pressures the government is managing," he said.
Mr. Harish Agarwal, Partner, Ernst & Young LLP, pointed to the continued emphasis on fiscal conservatism and deficit reduction as a strong positive signal. He also welcomed the extension of safe harbour provisions for IT companies, which are facing pressure from AI-led disruption and H1B-related challenges in key markets such as the US. He observed that the Budget remains infrastructure-oriented, with focus areas including tourism, healthcare and freight, and noted the specific focus on the eastern region as particularly encouraging.
Mr. Atanu Sen, Former Senior Advisor, Deloitte Touche Tohmatsu India LLP, commented on the financial sector, noting that while the Budget refers to a healthy and vibrant banking sector and the formation of a committee on banking, relatively limited direct measures were announced for banking, insurance and pensions. He highlighted current challenges on the deposit (liability) side for banks and the need for a level playing field in taxation compared to other financial instruments. He added that banks are increasingly raising funds through instruments such as CDs and bonds due to deposit constraints, which partly explains stock market reactions.
On a positive note, Mr. Sen welcomed references to the development of corporate bond markets, including indices for corporate and municipal bonds, calling this a constructive step. He also emphasized that achieving universal insurance coverage by 2047 and strengthening the pension ecosystem remain important long-term priorities.
Dr. Rajeev Singh, Director General, ICC, on behalf of ICC, congratulated the Honourable Finance Minister for presenting a "very strategic" Budget. He said it lays out both short-term and long-term plans, with the long-term vision focused on building national and industrial capacity for self-reliance (Aatmanirbhar Bharat).
In the short term, he highlighted measures aimed at improving access to finance and equity, risk coverage, ease of doing business, simplification of regulations, decriminalisation of laws, and a more user-friendly customs regime. The Budget's focus on reducing import dependence in key sectors, strengthening skills, agriculture, AI technology and infrastructure, and maintaining fiscal deficit targets, he said, creates a predictable and dependable environment for investors.
"I would describe this as a very balanced and strategically thought-out Budget that supports both immediate economic needs and long-term nation building," Dr. Singh concluded.
