2026 POST-BUDGET REACTION (CONSUMER TECH BRANDS)
Mr. 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.
Mr. 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.
Mr. 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.
Mr. 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
Mr. 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.
Mr 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.
“The Union Budget’s focus on high-value agriculture, improving farm productivity and encouraging entrepreneurship reflects a practical approach to strengthening India’s agricultural ecosystem. Special attention to small and marginal farmers, rural youth and the North-East will help ensure more inclusive and balanced growth across regions. The introduction of technology-led initiatives like Bharat VISTAAR is also a positive step, as it can help farmers access timely, data-driven insights and adopt better farming practices. The continued emphasis on value addition, support for women-led rural enterprises, and long-term sustainability aligns well with the industry’s focus on responsible fertiliser use and efficient farming systems. Overall, these initiatives move Indian agriculture towards a more productive, technology-enabled and sustainable future.” - Sanjiv Kanwar, MD, Yara South Asia.
Mr. Ravi Saxena, Founder & CEO, Wonderchef:
"The 2026 Budget reflects a clear focus on strengthening the fundamentals of the economy, business, and better living. The government's commitment to improving fiscal and revenue discipline lays a strong foundation for sustainable growth. On the business front, the emphasis on supporting MSMEs, boosting domestic manufacturing, and expanding digital infrastructure will help enterprises enhance efficiency and resilience. Equally important are the measures aimed at improving living standards through initiatives such as affordable housing, skill development, and women-led entrepreneurship under SHE-Marts.
While the stock market's immediate reaction has been cautious due to the hike in STT on F&O transactions, we believe this Budget sets the right direction for long-term value creation. Its structural reforms and inclusive measures will gradually strengthen consumption, restore investor confidence, and drive balanced growth across sectors."
Lalit Arora, COO & Co-Founder, UBON-
"As a homegrown consumer tech brand, we welcome the Union Budget 2026–27's strong focus on simplifying customs and excise duties and correcting duty inversions. For companies like ours that are committed to Make in India, a clearer and more predictable tariff structure directly supports local manufacturing and long-term planning. Rationalising exemptions on products already being manufactured domestically is a positive step towards strengthening India's electronics ecosystem and encouraging value addition within the country.
The proposed ₹10,000 crore SME Growth Fund and liquidity support through TReDS are equally significant. Access to timely credit remains a critical challenge for MSMEs, especially those investing in manufacturing infrastructure, tooling, and skilled manpower. These measures can help small and mid-sized manufacturers scale operations with confidence. At UBON, we see this Budget as a step towards creating a more enabling environment for Indian consumer tech brands to innovate, manufacture locally, and compete globally".
“The Union Budget 2026–27 shows that the government is serious about strengthening India’s energy storage and electronics manufacturing sector. By extending customs duty exemptions on machinery used for making lithium-ion batteries and processing critical minerals within India, the Budget helps lower manufacturing costs and encourages more local production.
The focus on energy security, a stable power grid, and domestic manufacturing of advanced equipment is a positive step for the industry. These measures make it easier for companies like Trontek to expand local manufacturing, invest in innovation, and build reliable energy storage and power electronics solutions.
Overall, the Budget supports India’s move towards self-reliance in clean energy while keeping technology adoption practical, affordable, and supportive for manufacturers.” Mr. Samrath S Kochar, Founder & CEO, Trontek Electronics.
"This year's Budget takes meaningful steps toward making India's tax ecosystem more transparent, predictable, and investor-friendly. For a country where millions are stepping into formal financial planning for the first time, clarity and simplicity in taxation are not just administrative improvements — they are confidence builders.
The overall framework has stayed the same, but it's good to see that the government is still working to make tax processes easier and less stressful for individual taxpayers. A tax system that is cleaner and clearer has a direct effect on how people save, invest, and prepare for the future.
As someone who had high hopes for tax reforms I think this Budget shows progress in the right direction especially when it comes to making compliance easier and filing easier. There is still opportunity for greater incentives for investors in the future, but the goal of enhancing financial discipline and giving taxpayers more authority is clear.
At MIRA Money, we remain committed to helping individuals navigate their taxes and investments in a way that brings them closer to financial freedom."— Anand K. Rathi, Co-Founder, MIRA Money.
"The real estate and urban development industry is feeling more hopeful about the future thanks to Budget 2026. The government is focusing on expanding infrastructure, speeding up approvals, and giving more assistance to sustainable urban planning. This makes it much easier for developers to come up with new ideas and build areas that are ready for the future.
As India grows, making it easier for people to connect, get to homes, and speed up development at the city level will be very important for molding modern urban living. This year's budget makes that objective even clearer and more committed.
These changes give developers like us at Alliance City Developers both the direction and the confidence to move on with big projects that improve quality of life and make a real difference in India's fast changing cityscapes."— Ankita Luharuka, CEO, Alliance City Developers
Dr Ashvini Jakhar, Founder and CEO of Prozo
"The Budget 2026–27 sends a strong signal that resilient, technology-led supply chains are central to India's growth strategy. The Government's continued emphasis on public capital expenditure, scaled up to ₹12.2 lakh crore, along with new Dedicated Freight Corridors, the operationalisation of 20 National Waterways, and a clear push for modal shift to greener logistics, will materially reduce friction and improve the speed and reliability of goods movement across the country.
By prioritising infrastructure development, domestic manufacturing, and MSME enablement, the Budget reinforces the link between efficient logistics networks and economic competitiveness. Measures such as the ₹10,000 crore SME Growth Fund, enhanced TReDS-based liquidity, and logistics-linked industrial corridors will help smaller enterprises integrate more effectively into domestic and global value chains.
For integrated supply chain platforms like Prozo, this Budget is an enabler for scalable, end-to-end logistics models combining warehousing, fulfilment, and data-driven visibility. As India accelerates its manufacturing and export ambitions, technology-enabled and transparent logistics infrastructure will be critical to ensure businesses of all sizes can compete efficiently in both domestic and global markets."
HS Kandhari, Executive Director, Harmony Infra Ventures
"The Budget sends a clear message that infrastructure remains central to India's growth strategy. The increase in capital expenditure to ₹12.2 lakh crore provides much-needed continuity and confidence for developers and contractors planning long-term projects.
What stands out is the proposed Infrastructure Risk Guarantee Fund. Addressing risk at the construction and development stage is crucial, especially for large projects, and this move should improve lender confidence and private participation.
The focus on Tier 2 and Tier 3 cities and the push to strengthen construction equipment and capabilities also signal a more balanced and execution-focused approach. Overall, this Budget creates a more stable and enabling environment for infrastructure delivery across the country."
Rajat Mahajan, Founder, RealChef
"The government's decision to increase the outlay of the Electronics Components Manufacturing Scheme to ₹40,000 crore reflects strong confidence in India's manufacturing potential. The fact that investment commitments have already exceeded targets shows that industry is ready to scale when the policy environment is stable and forward-looking.
Such momentum-driven policy support strengthens the overall manufacturing ecosystem, encouraging technology adoption, supply-chain localisation, and long-term capacity building. For Indian manufacturers, this sends a clear signal that the government is committed to creating a globally competitive, self-reliant manufacturing landscape."
Nasrulla Shariff N, Founder and Chief Executive Officer of BRINCO Hub Pvt. Ltd.
"The Union Budget 2026 sends a strong and reassuring signal for India's MSMEs by placing education, employment, enterprise and access to capital at the center of the growth agenda. The proposed Education to Employment and Enterprise Standing Committee reflects a long-term, services-led vision that recognizes MSMEs and new entrepreneurs not just as job creators, but as scalable growth partners in India's journey towards Viksit Bharat. Measures such as the ₹10,000 crore SME Growth Fund, continued support for micro enterprises, and regulatory enablement through Corporate Mitras directly address key challenges around access to finance, compliance, and capability building. At Brinco, we are working towards enabling entrepreneurs to build and scale businesses through franchising, and this year's Budget strongly aligns with our vision of creating a more inclusive, transparent and growth-ready ecosystem, where entrepreneurs across regions can access proven business models, reduce risk, and participate meaningfully in India's economic growth."
Mr. Sushil Aggarwal, Chairman and Wholetime Director, AVRO India Limited and Former Chairman, Conferderation of Indian Industries Western UP
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For manufacturing SMEs, the expectation from Budget 2026 was not headline-grabbing subsidies, but patient capital, predictable liquidity, and structural ease of doing business. The Budget delivers on these priorities.
The Rs 10,000 crore SME Growth Fund bridges the gap between early-stage support and scale-up capital, enabling capacity expansion, technology upgradation, and sustained job creation. The liquidity package—mandatory TReDS for CPSE procurement, credit-guaranteed invoice discounting, and GeM–TReDS integration—addresses delayed receivables and working-capital stress.
The focus on compliance support through trained 'corporate mitras' is timely, particularly for MSMEs in Tier-2 and Tier-3 cities, signalling a shift toward systemic, growth-oriented solutions for India's manufacturing sector."- Sushil Aggrwal, Chairman and Wholetime Director, AVRO India Limited and Former Chairman, Conferderation of Indian Industries Western UP.
Yuvraj Shidhaye, Founder and Director, TreadBinary, "As India accelerates its adoption of emerging technologies, the Union Budget 2026 highlights the need to balance AI driven scale and efficiency with employability and long term skill development. Although innovation powered by AI is empowering startups and the broader technology industry, growth should not be at the expense of employability or long-term skill development. The real opportunity is to leverage advanced technologies to scale business operations and increase market potential, while maintaining human talent as the foundation of the workplace. When technology is matched with workforce capability and backed by constant upskilling, it can result in superior productivity and revenue growth without diluting India's fundamental strength, its capable and flexible talent base."
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Dr Nipun Sharma, CEO, TeamLease Degree Apprenticeship
Today's Budget lays out a coherent blueprint for future-ready employment by tightly linking capital investment with workforce capability. By situating education hubs within five major industrial clusters, the government is converting manufacturing ambition into job-ready capability. This approach closes the last-mile skilling gap, reduces migration-related attrition, and ensures MSMEs have consistent access to locally trained, day-one-ready talent.
Crucially, this workforce push aligns well with opportunities emerging from trade agreements such as the EU–India FTA, where export-led manufacturing and high-value services will demand globally compliant, job-ready talent at scale.
With technical textile parks expected to support up to 35 million jobs by 2030, healthcare hubs adding 2.7 million roles, and hospitality capacity expanding beyond 4 million rooms by 2034, the focus is clearly on employment-intensive growth. The ₹10,000 crore district hostel initiative further strengthens inclusion by enabling higher female participation, building on a 58 percent rise in women apprentices over the years 2021-2024.
Together with the ambition to grow services to 10 percent of global economy by 2047, this Budget bridges education and employment at scale, positioning India's youth to power productivity, exports, and a Viksit Bharat.
The Union Budget 2026–27 is a constructive step toward building a more inclusive and future-ready healthcare ecosystem, with encouraging emphasis on infrastructure, innovation and preventive care — all of which are increasingly important as India's senior population grows. There is clear recognition that healthcare must evolve to address long-term and chronic care needs more effectively. The next priority should be ensuring these policy directions translate into real, on-ground support for ageing at home. At Anvayaa, we believe that wider insurance coverage for preventive and assisted eldercare, fiscal incentives for senior-care services, and stronger backing for technology-enabled home-care models can significantly ease the care burden on families. With the right policy support, dignified and reliable eldercare at home can become accessible to millions of seniors across the country." -Prashanth Reddy, Founder & MD, Anvayaa.
Mr. Alok Singh, Head of Treasury at CSB Bank
“The budget 2026-27 focuses on inclusive growth by targeting all the core sectors. The three kartvyas and 6 strategies are well aligned to achieve the target of Viksit Bharat.
The ten thousand crore fund for SME growth in conjunction with modification in TReDS platform can certainly help SMEs. The high speed corridors with focus on Infra, Chemical and Rare Earth metals augur well for the future.
The fiscal deficit consolidation continues. The gross borrowing at 17.2 lac crore is slightly higher than market expectations and may put a pressure on borrowing costs.
The overall budget tries to address the future growth challenges keeping the changing global trade alignments in mind with a medium to long term perspective.”
Mr. Probir Das, Executive Director and Group Chief Executive Officer, Integris Medtech Limited
"The Union Budget sends a strong and future focused signal for growing India's medtech sector and advancing our healthcare manufacturing ecosystem, particularly as the country's disease burden continues to shift towards non-communicable and chronic conditions. The proposed Biopharma Shakti initiative and the focus on scaling manufacturing in strategic health sectors align well with the need to deepen domestic capabilities across complex medical technologies, diagnostics and therapeutics. The emphasis on strengthening regulatory capacity at the Central Drugs Standard Control
Organization, faster and more predictable approval timelines and the creation of accredited clinical trial networks is especially important, as it supports innovation while improving time-to-market for high-quality medical solutions. The Budget's focus on expanding allied healthcare professionals covering disciplines such as optometry, radiology and operating-theatre technologies also directly supports the delivery of advanced medical devices and interventional solutions across care settings.
In addition, customs-duty exemptions on select life-saving drugs and initiatives to promote medical-value tourism reflect a broader intent to improve affordability while positioning India as a global hub for quality healthcare.
Overall, the Budget reinforces policy continuity and ecosystem-level support that should enable sustained growth across the medtech value chain, from manufacturing and regulation to clinical adoption and patient access."
Mr. Probir Das, Executive Director and Group Chief Executive Officer, Integris Medtech Limited
“The Union Budget sends a strong and future focused signal for growing India’s medtech sector and advancing our healthcare manufacturing ecosystem, particularly as the country’s disease burden continues to shift towards non-communicable and chronic conditions. The proposed Biopharma Shakti initiative and the focus on scaling manufacturing in strategic health sectors align well with the need to deepen domestic capabilities across complex medical technologies, diagnostics and therapeutics. The emphasis on strengthening regulatory capacity at the Central Drugs Standard Control
Organization, faster and more predictable approval timelines and the creation of accredited clinical trial networks is especially important, as it supports innovation while improving time-to-market for high-quality medical solutions. The Budget’s focus on expanding allied healthcare professionals covering disciplines such as optometry, radiology and operating-theatre technologies also directly supports the delivery of advanced medical devices and interventional solutions across care settings.
In addition, customs-duty exemptions on select life-saving drugs and initiatives to promote medical-value tourism reflect a broader intent to improve affordability while positioning India as a global hub for quality healthcare.
Overall, the Budget reinforces policy continuity and ecosystem-level support that should enable sustained growth across the medtech value chain, from manufacturing and regulation to clinical adoption and patient access.”
Mr.Satyen Jain, Whole Time Director and CEO, Pride Hotels Limited
Commenting on the Budget, Satyen Jain, Whole Time Director and CEO, Pride Hotels, said "The Union Budget 2026 recognises tourism and hospitality as core engines of employment and regional economic growth. The proposed National Institute of Hospitality, large-scale skilling of guides at iconic destinations, investments in heritage, eco-tourism and trekking circuits, and the development of digital destination platforms will structurally deepen travel demand beyond metros, driving steady leisure and spiritual travel into Tier II and Tier III destinations. For hotel operators, this creates a stronger pipeline of quality destinations, better-trained frontline talent and more consistent domestic travel flows across leisure, spiritual and experiential tourism. Over the medium term, this will support higher occupancies, faster ramp-up of new hotel inventory and sustainable growth in emerging tourism markets."
Tanuj Patro, CFO, HMD
"The increased ₹40,000 crore allocation for the Electronic Components Manufacturing Scheme is a strong boost for the telecom and electronics ecosystem, adding depth to domestic supply chains and helping India evolve from an assembly hub to a high-value manufacturing destination. Timely implementation, backed by robust infrastructure, will be critical to de-risk investments in advanced PCBAs, display assemblies and camera modules, enabling the transition from 'Made in India' to 'Designed in India'.
The Semiconductor Mission 2.0 is equally commendable for its focus on materials, equipment and Indian-owned IP, strengthening full-stack domestic capabilities and positioning India as a future global semiconductor hub.
Notably, the 22-year tax exemption for data centres stands out as one of the smartest moves in Budget 2026, offering long-term policy certainty and accelerating foreign investment into India's digital infrastructure, while the government's focus on improving the debt-to-GDP ratio and fiscal deficit reinforces confidence in India's macroeconomic stability."
Dr Veena Aggarwal - Trustee, Heart Care Foundation of India
"The Union Budget's emphasis on preventive and integrated healthcare is encouraging. Measures such as strengthening allied health professionals, expanding mental health institutions, enhancing emergency and trauma care, and exempting customs duty on lifesaving medicines reflect a people-centric approach to health access. To truly benefit economically weaker communities, these steps must be complemented by stronger community-level services, affordable preventive screening, and sustained public awareness programmes so that care reaches households before illness pushes them into financial distress."
Anil Tadimeti, Director, Strategy & Regulatory Affairs, Bureau-
"The Union Budget 2026–27 underscores the government's focus on MSMEs as a key engine of economic growth, with a clear emphasis on improving access to credit and strengthening the digital frameworks that support it. As credit delivery becomes increasingly digital, technology-led approaches to risk assessment and trust will be essential to ensure that growth is inclusive, responsible, and sustainable.
The proposal to constitute a High-Level Committee on Banking for Viksit Bharat is a significant step toward reviewing the financial sector across banks and NBFCs, with an emphasis on regulatory efficiency, long-term resilience, and effective use of technology. We see the comprehensive review of compliance and operating frameworks as a welcome step toward simplifying processes, reducing friction, and enabling financial institutions to scale while prioritising consumer protection.
This is further complemented by initiatives like the rationalisation of IT services under a single category with a uniform safe harbour margin of 15.5% and an expanded threshold of ₹2,000 crore. Together, these measures signal strong policy attention on financial sector resilience and its multiplier effect on the broader economy.
One area that we, as part of Bureau, would want further articulation on is India's approach to AI and emerging AI-led capabilities, including both their transformative potential and associated risks. While the Budget does not outline specific AI provisions, the broader direction points toward sector-specific regulation.
Clarity on how regulators and ministries intend to leverage AI to deepen digitisation, expand financial inclusion, and strengthen digital trust while putting guardrails in place to address AI-driven misuse and adversarial threats is critical, and we look forward to it.
Mr. Manish Bansal, Managing Director, Window Magic on Infrastructure & Construction Industry
"The proposed increase in public capital expenditure to ₹12.2 lakh crore in FY 2026–27 underscores the government's unwavering focus on infrastructure-led growth, even amid global uncertainties. This strong infrastructure push, supported by targeted interventions across manufacturing, MSMEs, and city economic regions, will help reduce logistics costs, create employment, and attract long-term private investment.
Measures such as the proposed Infrastructure Risk Guarantee Fund will enhance risk confidence during the construction phase, while asset monetization through REITs and InvITs will speed up capital recycling in real estate and infrastructure. With sustained focus on Tier 2 and Tier 3 cities and investments in modern construction and infrastructure equipment, India is laying the groundwork for efficient, resilient, and future-ready urban development- driving demand for high-quality, durable, and energy-efficient building solutions."
Shaifalika Panda, Founder & CEO, Bansidhar & Ila Panda Foundation (BIPF)
"Women's entrepreneurship is no longer about participation alone; it is about ownership, scale and leadership. The Union Budget 2026–27 takes a decisive step in this direction by explicitly enabling women to move from credit-linked livelihoods to becoming owners of enterprises. The proposal to establish Self-Help Entrepreneur (SHE) Marts as community-owned retail platforms marks a structural shift in how women-led businesses are integrated into markets, value chains and formal retail ecosystems.
By combining innovative financing, collective ownership models and cluster-level aggregation, the Budget recognises that sustainable women entrepreneurship requires more than access to loans—it requires access to markets, branding and institutional support. This approach builds on the success of grassroots programmes while creating pathways for women entrepreneurs to scale, formalise and compete.
For States like Odisha, where women play a pivotal role in self-help groups, micro-enterprises, agro-processing and handicrafts, such interventions can unlock significant economic and social dividends.
As India advances towards Viksit Bharat, empowering women as entrepreneurs and business owners is not just a social imperative; it is an economic necessity. The Budget's emphasis on women-led enterprises reinforces the idea that inclusive growth is most powerful when women are positioned at the centre of India's economic transformation."
Saurabh Sehgal, Head of School, Sapphire International Noida
"This years budget marks a clear shift from education as access to education as impact. Students want to understand not only what they are learning, but why it matters. By proposing the Education to Employment and Enterprise Committee and supporting the expansion of content and innovation labs, including plans to set up such labs in over 15,000 secondary schools, the Budget recognises the need to connect learning more closely with real-world application. The emphasis on developing university townships near industrial corridors further strengthens this bridge between education and opportunity. Together, these measures can make learning more relevant and purposeful. When education nurtures skills, curiosity, and values together, it prepares learners not just for careers, but for life; and for contributing meaningfully to a truly Viksit Bharat by 2047."
Mr. Sundar Kumarasamy, Founder and CEO Excelerate
"By prioritising AI, quantum technologies, semiconductors, and electronics manufacturing, including a ₹40,000-crore outlay for electronic components, Budget 2026 recognises that learning must extend beyond classrooms and borders. Initiatives such as ISM 2.0 and industry led training centres can anchor global mentorship, applied research, and hands-on internships with international firms. At the same time, continued support for startup incubation through the ₹10,000 crore Fund and the Seed Fund framework reinforces innovation as a driver of jobs. To fully realise this potential, private universities and digital platforms must have clearer access to these missions, enabling modular, industry-aligned pathways that translate emerging technologies into globally relevant careers."
Adrija Agarwal, VP – Business Development, Sattva Group
"The focus on infrastructure spending has a real ripple effect. Better connectivity improves ease of travel, enables more efficient sharing of resources, and leads to stronger utilisation across manufacturing and infrastructure, helping accelerate consumption and create a more balanced economy.
The scale of the capex push reflects fiscal prudence and a long-term, structural approach to growth. Additionally, the emphasis on strengthening the service economy through supportive tax structures for data centres and Global Capability Centres will build growth momentum, accelerate value creation, and reinforce India's position as a preferred destination for global enterprises."
Dr. Ramya Chatterjee, Chief of Solitaire-
"India's electronics and technology manufacturing sector needed a policy push that goes beyond assembly and scale and the Union Budget 2026 begins to address that gap with intent. The focused emphasis on electronic components manufacturing is especially significant as it strengthens domestic value addition, reduces import dependence and enables more resilient supply chains. Equally relevant for the sector is the proposal to establish a High Powered Education to Employment and Enterprise Standing Committee, recognising that advanced manufacturing and design capabilities are ultimately powered by skilled talent and applied research. As electronics and digital technologies become more complex, future competitiveness will depend on the depth of industry academia collaboration and the availability of future ready skills. By aligning emerging technologies with workforce development, this budget lays the foundation for India to lead in advanced manufacturing, design and technology driven services, while positioning the country as a trusted hub for high value electronics and global technology partnerships."
Mr. Ajit Jangle, Managing Director, FM Logistic India-
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"What I find encouraging in this budget is the clear intent to fix logistics at the system level. Investments in Dedicated Freight Corridors, expansion of inland waterways, and continued momentum under Gati Shakti will directly improve transit reliability and cost efficiency. The emphasis on digital clearances, trust-based compliance, and faster cargo movement is equally important as it reduces friction and not just paperwork. For logistics players, this creates an environment where planning becomes more predictable and scale becomes sustainable. That shift is critical for India to become a global manufacturing and supply chain hub."
“The Budget’s focus on attracting global cloud and data centre investment is a strong signal of India’s intent to become a serious digital infrastructure hub. Tax incentives for companies serving global customers from India, along with safe-harbour provisions, create the right conditions for building scalable, enterprise-grade data platforms.
At the same time, the emphasis on emerging technologies such as AI and continued investment through missions like IndiaAI mission, National Quantum mission, and the Anusandhan National Research Fund highlights that infrastructure alone is not enough as data volumes and AI use scale. The real opportunity lies in how organisations govern, integrate, and use trusted, high-quality data at scale. As more global workloads move to India, strong data management and governance frameworks will be critical to ensuring AI delivers trusted outcomes across sectors from public services to financial markets, including India’s digital public infrastructure and enterprises.”— Varun Babbar, VP and India MD, Qlik.
Mr. Aman Choudhary, Executive Director—Marketing at Anmol Industries Limited, applauds the 2025 Union Budget for its progressive measures to boost the FMCG sector and strengthen rural demand. The government's continued focus on infrastructure, job creation, and MSME support will drive consumption and economic growth. Additionally, logistics and supply chain efficiency investments will enhance distribution networks, benefiting both manufacturers and consumers. This Budget sets the stage for sustained growth, empowering businesses like ours to innovate and expand in a dynamic market.
Harsha Solanki, VP GM Asia, Infobip, said, "We welcome the Union Budget 2026, which reinforces India's shift towards a competitive, AI-driven digital economy. By prioritizing new technologies and promoting innovation through initiatives such as the AI Mission, the National Quantum Mission, and the Research and Development and Innovation Fund, the government is laying a solid foundation, enabling businesses to adopt smarter, more intelligent solutions across their operations.
The long-term tax holiday for global cloud service providers and investments in data centers will help free up costs, allowing companies to invest more in AI innovation, ensure performance and reliability, and expand their infrastructure. Complementing this, expanding the safe harbor threshold for IT and tech services will ensure regulatory clarity and reduce compliance burdens, making it easier for technology providers to scale their operations.
For SMEs, these initiatives are transformative. The combination of AI technologies, simplified compliance, and accessible digital infrastructure opens new paths for growth. It empowers them to improve efficiency, engage customers better, expand their presence, and participate more in India's next phase of digital growth. At Infobip, we sit at the intersection of intelligent automation and cloud communications, and these measures will enable tech platforms like us to innovate more responsibly and deepen localization while empowering businesses to create a more connected, safer, and outcome-driven experience for their customers."
Union Budget Reaction Quote from Ms. Priya Rustogi, Leader (Managing Director), India, LIXIL IMEA
The Union Budget 2026 signals India's strong commitment to large-scale infrastructure, urban expansion, and domestic manufacturing- aligning closely with LIXIL's long-term investment and manufacturing strategy in India.
The record ₹12.2 lakh crore public capex, focused on high-speed rail, freight corridors, and urban development in Tier II/III cities, will drive construction in housing, hospitality, commercial, and public projects- redefining quality living spaces across the country.
Key enablers include the Infrastructure Risk Guarantee Fund to boost private developer confidence and accelerate project delivery, plus dedicated REITs to recycle CPSE real estate assets for redevelopment and modernization. These steps shift from sporadic builds to sustained, high-quality urban growth, elevating design integrity, water efficiency, and performance as standard expectations.
GROHE's water-efficient bathroom and kitchen solutions are ideally positioned for this urban evolution, delivering premium experiences while prioritizing resource conservation in denser cities.
The ₹10,000 crore SME Growth Fund, ₹2,000 crore top-up to the Self Reliant India Fund, and mandatory TReDS for CPSE procurement strengthen MSME supply chains- enhancing predictability and resilience for partners in our manufacturing network.
The ₹20,000 crore allocation for Carbon Capture, Utilization, and Storage underscores sustainability's role in future infrastructure. This resonates with LIXIL's emphasis on water efficiency and responsible practices, enabling GROHE to contribute meaningfully to India's green urban growth.
Rahul Shanker, Group CEO, Quest Retail (The Body Shop India)
The Union Budget reflects a clear shift towards building long-term resilience in India's growth story. The emphasis on infrastructure development, services-led growth, and digital integration directly supports consumer-facing sectors such as beauty and personal care. Investments in manufacturing ecosystems, urban and regional economic clusters, and skills aligned to emerging technologies will strengthen supply chains and improve market access.
For large retail and brand-led businesses, these measures create the right environment to expand responsibly into Tier-2, Tier-3 and rural markets, unlock new consumer demand, and accelerate the creation of globally competitive Indian brands. By supporting consumption and improving ease of doing business across the value chain, the Budget lays the groundwork for inclusive and sustained growth.
Shriti Malhotra, Executive Chairperson of Quest Retail
Budget 2026 moves decisively from welfare to ownership & action on women's economic empowerment. She-Marts, building on Lakhpati Didi, shifts women from subsistence livelihoods to enterprise ownership by expanding market access and strengthening community-led retail. By aligning skilling, formalisation, and entrepreneurship, the Budget accelerates women's leadership & empowerment across rural and urban economies and drives inclusive growth.
Mohit Goyal, Co Founder & Director, Swiss Beauty
The Union Budget 2026–27 meaningfully strengthens India's retail and FMCG operating ecosystem by addressing critical growth enablers such as capital access, liquidity and ease of compliance. The ₹10,000 crore MSME and SME Growth Funds, along with enhanced liquidity through TReDS and credit guarantees, will significantly strengthen the backbone of customer-facing industries like beauty and personal care by improving working-capital efficiency and vendor resilience. For Swiss Beauty, which sources high-grade ingredients globally and adheres to stringent BIS-led quality and safety standards, the reduction of the tariff rate on all dutiable goods imported for personal use from 20% to 10%, alongside a more efficient trade and logistics environment, will support cost efficiencies, supply-chain flexibility, consistency, innovation and scalable growth. The Budget's focus on infrastructure, services, skills, and consumption-led expansion across Tier-2 and Tier-3 markets lays a strong foundation for building globally competitive Indian beauty brands while enabling sustainable and inclusive growth.
Quote by Mr. Rajasekhar Papolu, Chairman & Managing Director, Brihaspathi Technologies Limited
"The Union Budget signals that India's digital growth is entering a more mature phase, driven by AI, deep-tech innovation, and robust digital infrastructure. The focus on technology-led development, indigenous manufacturing, and skill creation will accelerate adoption of advanced solutions across smart cities, healthcare, manufacturing, and public safety. Strengthening domestic electronics and semiconductor ecosystems, alongside investments in future-ready skills, is particularly encouraging. Overall, the Budget supports self-reliance while fostering innovation, resilience, and long-term digital transformation."
Mr. Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India-
Commenting on the recently announced Union Budget 2026, Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India said, "We welcome the Honourable Finance Minister's announcement today, so far as the thrust on infrastructure development is concerned. The FY27 Union Budget signals continuity in India's macro-growth trajectory, with a consistent infrastructure push and fiscal discipline. The Budget maintains a stable macro environment for investors, keeping buyer sentiment measured and pragmatic. The focus on selective opportunities in tier-2 and tier-3 growth corridors, and connectivity in urban economic regions, provides a supportive backdrop for demand in residential and logistics markets over the medium term. However, disappointingly, the Budget does not introduce any real estate-specific fiscal incentives, especially to boost affordable housing in India, which has already been a cause of concern for the sector."
Sameer Mathur, Md and Founder of Roinet Solution-
The Budget maintains continuity in strengthening India's digital public infrastructure, with recognition of platforms such as UPI that have significantly expanded access to financial services and supported the growth of the fintech ecosystem. At the same time, there is scope for greater clarity on the roadmap for fintech's next phase of evolution, particularly across lending, wealth creation and insurance, which are critical to advancing financial inclusion. Enhanced policy support for players building infrastructure to expand reach in smaller towns and underserved segments could further improve last-mile access. Greater emphasis on resource allocation towards education and MSME development would also contribute to long-term economic resilience. Improving access to affordable credit for MSMEs and easing operational complexities remain important priorities, especially as bank lending continues to be more skewed towards larger corporations. A more integrated policy approach could help fintech play a stronger role in enabling inclusive and sustainable growth."
*Shikhar Aggarwal, Chairperson, BLS E-services*
"Presenting the Union Budget 2026, Finance Minister Smt. Nirmala Sitharaman outlined a vision for 'Viksit Bharat,' balancing ambitious growth with inclusion, and announced a high-level committee to futuristically align the banking sector with India's next phase of development.Highlighting that nearly 25 crore people have emerged from multidimensional poverty, the Finance Minister increased capital expenditure to Rs 12.2 lakh crore, framing the budget around inclusive 'Kartavyas' (duties).
Signaling a major review of financial architecture, the Finance Minister proposed a 'High Level Committee on Banking for Viksit Bharat' to ensure the sector supports India's growth ambitions while safeguarding stability, inclusion, and consumer protection. To empower women entrepreneurs, the Budget introduced the 'She-Marts' initiative, aimed at improving access to credit and innovative financial instruments.
Finance Minister Nirmala Sitharaman's Budget 2026 aims for a 'Viksit Bharat,' launching a high-level banking review, a Rs 10,000 crore SME fund, and new initiatives like 'She-Mart' to support inclusion and future-ready growth."
*Ankit Kumar, CEO & Founder, Skye Air Mobility*
Union Budget 2026 clearly marks India's transition from drone experimentation to infrastructure-led adoption, creating strong momentum for the drone, aviation, and logistics sectors. With a record ₹11 lakh crore public capex and sustained focus on Tier-2 and Tier-3 cities, the Budget significantly expands opportunities for drone-enabled logistics in regions where road infrastructure remains inefficient. For drone sectors, this directly translates into higher demand for healthcare, essential, and time-critical deliveries, as well as district-level and enterprise logistics.
Enhanced support for MSMEs and SMEs through the ₹10,000 crore SME Growth Fund, Self-Reliant India Fund, and GeM–TReDS integration improves liquidity and shortens payment cycles, accelerating adoption of drone logistics. Strategic investments in bio-pharma and semiconductors, alongside incentives for data centres, IT services, and skilling, strengthen the technology. Collectively, these measures position drones as a strategic national capability and enable to scale as a sustainable, reliable, and ESG-aligned aerial logistics backbone across first-, mid-, and last-mile delivery.
*Saurabh Rai, Chief Strategy & Growth Officer NeoGeoInfo Technologies Limited*
The 2026–27 Budget sends a strong pro-growth and pro-employment signal through massive infrastructure investment, advanced manufacturing, MSME financing, and a clear focus on skilling for emerging technologies like AI. These measures can create sustainable jobs across sectors and strengthen India's long-term competitiveness. However, the absence of a direct policy or investment push for strategic domains such as geospatial intelligence and the space ecosystem is a missed opportunity, especially when these technologies are increasingly central to infrastructure planning, climate resilience, defence and digital governance. A targeted thrust here could have significantly amplified India's innovation and high-skill employment potential.
Ankit Aggarwal, Founder of Unstop:
" The proposal to create a high-powered Education to Employment and Enterprise committee is a timely acknowledgement that India's growth story will be written in its services sector and by its talent. As AI, automation, and digital services reshape how work is created and delivered, the real challenge is no longer access to education but the translation of learning into employable and enterprise-ready skills. The government's emphasis on large-scale AI missions and emerging technology capacity building for 25 crore Indians signals a shift from intent to infrastructure. For India to claim a meaningful global share in services by 2047, skilling systems must move faster, become outcome-driven, and stay closely aligned with real industry demand. This Budget sets the foundation for a workforce that is not just qualified, but continuously adaptable in an AI-led economy. "
Nirmal Kumar Meharia, Director of Finance & Operations, Supertron Electronics
"The Union Budget 2026 is a forward-looking blueprint that reinforces India's transition from a technology consumer to a global manufacturing hub. The launch of ISM 2.0 and the expanded ₹40,000 crore outlay for the Electronics Components Manufacturing Scheme are transformative steps. For the IT distribution sector, these reforms mean more resilient supply chains and a significant reduction in import dependencies as we move toward full-stack Indian IP.
Furthermore, the tax holiday for Data Center and Cloud service providers until 2047 is a visionary move that will trigger massive capacity building. This ensures a steady, long-term demand for high-end enterprise solutions and digital infrastructure. While the increase in STT is a point of note, the overall emphasis on MSMEs and the 'Make in India' initiative provides the stability and momentum needed for the IT industry to scale new heights."
Mr Pankaj Tripathi, Founder and CEO of Vernost:
"The Budget's strong push towards emerging technologies such as AI and quantum computing signals a decisive shift towards building a future-ready, innovation-led economy. By backing missions that integrate research, development, and real-world application, the Government is creating an ecosystem where technology drives inclusive growth from youth upskilling to wider access and opportunity. For Vernost, this reinforces the importance of enabling institutions and enterprises with agile, tech-driven solutions that accelerate adoption and translate innovation into measurable outcomes across sectors."
Hemant Sood, Managing Director, Findoc
The Union Budget 2026 strikes a thoughtful balance between growth-oriented capital expenditure and strategic market reforms. While the push to deepen corporate bond markets and restructure key financial institutions underscores long-term market development, the industry had hoped for more direct capital gains relief to further boost equity participation. Investors will cautiously assess the impact of changes in tax and transaction frameworks, especially as markets digest new norms. For mutual fund and equity traders, this Budget signals both opportunity and volatility, emphasising the importance of diversified strategies and disciplined investing in quality assets. Overall, we see the Budget as a step toward a more resilient financial ecosystem, with room for refinement in investor-friendly taxation to unlock long-run wealth creation.
Atishay Jain; Managing Partner; Koncept Global Books
The Budget's clear emphasis on research-led education and future technologies like AI signals a shift from rote learning to innovation-driven skill development. Structured investments in advanced learning ecosystems encourage institutions to prepare students for emerging industries rather than legacy roles. For Koncept Global Books, this reinforces the need for high-quality, application-oriented academic content that bridges theory with real-world practice. Strengthening this research and learning foundation will be critical to nurturing future-ready talent and supporting India's ambition of becoming a global knowledge powerhouse."
Mr Prashant Kumar, Co-founder and CEO of zingbus:
"The Union Budget's renewed focus on tourism and hospitality presents a significant opportunity for the intercity mobility sector. Investments in a National Institute of Hospitality, upskilling local guides, and the development of sustainable trekking and heritage circuits will drive higher tourist footfall across emerging and iconic destinations. For zingbus, this translates into enabling safer, reliable, and technology-led travel that seamlessly connects travellers to these locations. As tourism expands beyond metros, efficient bus networks will play a critical role in improving accessibility, supporting local economies, and powering India's next phase of travel-led growth."
Mr. Rajasekhar Papolu, Chairman & Managing Director, Brihaspathi Technologies Limited
"The Union Budget signals that India's digital growth is entering a more mature phase, driven by AI, deep-tech innovation, and robust digital infrastructure. The focus on technology-led development, indigenous manufacturing, and skill creation will accelerate adoption of advanced solutions across smart cities, healthcare, manufacturing, and public safety. Strengthening domestic electronics and semiconductor ecosystems, alongside investments in future-ready skills, is particularly encouraging. Overall, the Budget supports self-reliance while fostering innovation, resilience, and long-term digital transformation."
"The Union Budget 2026–27 sets a visionary foundation for India's industrial future. We particularly welcome the INR 40,000 crore allocation for electronic component manufacturing. This targeted support, combied with the government's focus on ease of doing business, provides us with the ideal environment to aggressively scale our manufacturing capacity. By investing in advanced automation and expanding our production facilities, we are ensuring that we can meet the surging demand for high-quality, 'Made in India' electrical solutions.
Additionally, the ₹12.2 lakh crore capex outlay spanning high-speed rail, freight corridors, and urban economic zones will act as a massive catalyst for the wiring, modular switch, and power systems sectors. These reforms directly empower us to grow our business footprint across both emerging rural markets and revitalized urban centers.
Ultimately, these initiatives align perfectly with our commitment to promoting Viksit Bharat. By rejuvenating legacy clusters and strengthening the MSME ecosystem, the Budget fosters a self-reliant nation. Goldmedal is proud to contribute to this journey, leveraging our expanded capabilities and nationwide network to power India's infrastructure with safety and innovation at the forefront." – Mr. Kishan Jain, Director, Goldmedal Electricals.
Mr. Vinod Sharma, Chief Operating Officer, Ryan Edunation-
"The Union Budget 2026–27 reflects a strong commitment to building an inclusive, innovative and future-ready education ecosystem. The focus on Content Creation Labs in 15,000 schools resonates deeply with our belief in nurturing creativity, communication skills and digital confidence among students from an early age. AI-enabled learning interventions will further empower educators to personalise learning and support every child's academic journey. Measures such as reduced TCS from 5% to 2% on education expenses and initiatives to expand access for girls reinforce the Budget's learner-centric approach.
HS Kandhari, Executive Director, Harmony Infra Ventures
"The Budget sends a clear message that infrastructure remains central to India's growth strategy. The increase in capital expenditure to ₹12.2 lakh crore provides much-needed continuity and confidence for developers and contractors planning long-term projects.
What stands out is the proposed Infrastructure Risk Guarantee Fund. Addressing risk at the construction and development stage is crucial, especially for large projects, and this move should improve lender confidence and private participation.
The focus on Tier 2 and Tier 3 cities and the push to strengthen construction equipment and capabilities also signal a more balanced and execution-focused approach. Overall, this Budget creates a more stable and enabling environment for infrastructure delivery across the country."
Rajat Mahajan, Founder, RealChef
"The government's decision to increase the outlay of the Electronics Components Manufacturing Scheme to ₹40,000 crore reflects strong confidence in India's manufacturing potential. The fact that investment commitments have already exceeded targets shows that industry is ready to scale when the policy environment is stable and forward-looking.
Such momentum-driven policy support strengthens the overall manufacturing ecosystem, encouraging technology adoption, supply-chain localisation, and long-term capacity building. For Indian manufacturers, this sends a clear signal that the government is committed to creating a globally competitive, self-reliant manufacturing landscape."
Amit Prakash Singh, Co-founder & CBO, Urban Money
Quote: "Budget 2026 marks a clear transition from stabilising the financial system to scaling credit delivery. Risk-sharing mechanisms, deeper bond markets, simpler tax compliance and improved household liquidity together strengthen mortgage readiness, especially for first-time homebuyers, and set the foundation for sustained, housing-led credit growth."
"The 2026 budget makes it obvious that the government knows how much India can grow as a business. The Budget provides a strong message of trust and empowerment to entrepreneurs by opening up opportunities, making rules easier to follow and making it easier for businesses to come up with new ideas.
As an entrepreneur in more than one field, this forward-thinking view is quite inspiring. When the policy climate is more flexible and helpful, it makes us want to try new things, work across different areas and push our limits with more confidence.
These kinds of changes not only encourage innovation in companies like ours, but they also give entrepreneurs new ways to help India's economy grow. Budget 2026 is a good move in the right way. It will encourage creators, builders, and business leaders to lead the next wave of growth in the country." — says Mr. Sumit Govind Sharma - Founder of Lux Exclusive Marketing Pvt. Ltd.
Nasrulla Shariff N, Founder and Chief Executive Officer of BRINCO Hub Pvt. Ltd.
"The Union Budget 2026 sends a strong and reassuring signal for India's MSMEs by placing education, employment, enterprise and access to capital at the center of the growth agenda. The proposed Education to Employment and Enterprise Standing Committee reflects a long-term, services-led vision that recognizes MSMEs and new entrepreneurs not just as job creators, but as scalable growth partners in India's journey towards Viksit Bharat. Measures such as the ₹10,000 crore SME Growth Fund, continued support for micro enterprises, and regulatory enablement through Corporate Mitras directly address key challenges around access to finance, compliance, and capability building. At Brinco, we are working towards enabling entrepreneurs to build and scale businesses through franchising, and this year's Budget strongly aligns with our vision of creating a more inclusive, transparent and growth-ready ecosystem, where entrepreneurs across regions can access proven business models, reduce risk, and participate meaningfully in India's economic growth."
Gunjan Shah, MD & CEO, Bata India
"For the footwear sector, the proposed customs duty simplifications, duty-free imports of specified inputs for shoe uppers, and extended export timelines for leather, textile and footwear products are meaningful enablers. These measures will improve cost efficiency, ease compliance and strengthen India's position as a competitive manufacturing and export hub for footwear.
Equally important is the Budget's emphasis on building future-ready capabilities. As India invests in a young and digitally skilled workforce, there is strong alignment with our focus on design, technology and skill development. The underlying emphasis on inclusive growth also resonates with us, as we continue to expand through local entrepreneurship, deeper reach across emerging markets, and a long-standing commitment to trust and quality."
