Sandeep Kumar, Founder & CEO of Zourney.
The current Budget 2026 signals a deeper, more structural view of travel as a growth engine for India. Rationalisation of TCS on outbound travel is a timely reform, it improves cash flow efficiency for travellers and agents, reduces friction, and brings greater predictability to outbound demand. These steps create a healthier operating environment for the travel and encourages long-term planning rather than short-term transactions.
Equally important is the continued infrastructure push for domestic tourism, especially around emerging tourism hubs and improved domestic and international connectivity. A significant dimension of this growth is temple tourism, which is fast becoming one of India's most consistent and high-intent travel segments. Investments around religious corridors, civic infrastructure, and last-mile access in terms of Roads, Airports are transforming pilgrimage into well-planned, experience-led journeys.
For travel companies, this convergence is significant. It enables them to diversify portfolios, balance outbound and domestic demand, and build specialised offerings around faith, culture, and heritage segments driven by trust and repeat behaviour. Over time, these measures will professionalise the ecosystem, strengthen agent viability, and position India's travel economy for resilient, year round growth.
"The Union Budget 2026 provides a strong and consistent policy framework for India’s emergence as a global powerhouse under the leadership of Prime Minister Narendra Modi. The sustained push on infrastructure, higher capital expenditure, and reforms aimed at easing business conditions will help in attracting private investment and strengthening supply-chain resilience. We welcome the focus on clean energy solutions, MSME growth, and technology-led inclusion - benefiting farmers, women in STEM, youth, and the differently abled. The focus on scaling manufacturing in strategic sectors, building domestic value chains for critical minerals and rare earths, and expanding semiconductor and advanced technology capabilities will be vital for the future of EVs, electronics, and next-generation mobility."
- Mr. Sudarshan Venu, Chairman and Managing Director, TVS Motor Company.
Mr. Sachin Alug, CEO, NLB Services
"The Union Budget 2026–27 sends a clear signal that India's next phase of growth will be powered by AI-led digital capabilities, large-scale skill transformation, and globally competitive technology services. The proposed Education to Employment and Enterprise framework is a timely intervention to bridge the curriculum-industry gap, particularly in emerging areas such as AI, data engineering, and digital platforms, where demand is outpacing talent readiness.
The focus on tier 2 and tier 3 regions as Digital Economy Zones strengthens India's Global Capability Center ecosystem by unlocking new talent pools and enabling distributed, resilient operating models beyond metros. Equally important is the move to create a unified IT Services framework with clearer tax and safe harbour norms, which provides long-term predictability for enterprises. Combined with sustained investments in AI, quantum, and R&D, the budget reinforces India's position as a global hub for digital innovation, technology talent, and service-led transformation."
Sunil Jose, President - Workday India said, "This year's Budget places people, skills, and AI at the centre of India's long-term growth agenda. By encouraging large-scale AI investments and inviting global organisations to build and innovate in India through tax incentives extending up to 2047, the government is reinforcing India's ambition to become a global hub for talent and technology. The focus on education-to-employment pathways, continuous skilling, and AI-enabled workforce transformation reflects a clear understanding of how work is evolving. For organisations, sustained investments in skills, workforce agility, and human-centric technology will be critical to driving productivity and inclusive growth."
Despite headline increases across multiple schemes focusing on social welfare, the data shows a decisive reallocation rather than an expansion of welfare. MGNREGS allocations have been cut by roughly two-thirds compared to last year's revised estimates, while infrastructure-linked programmes like Jal Jeevan Mission have been scaled up nearly fourfold. This signals a clear policy shift away from income and employment guarantees towards asset-based welfare, raising serious questions about how rural households will cope with climate and livelihood shocks. - Mr. Satyam Vyas - Founder of Climate Asia,
"The Union Budget 2026 clearly recognizes the Orange Economy, particularly the AVGC sector, as a strategic employment and growth engine for India. Measures such as setting up AVGC content creator labs across vocational training and specialized institutes, strengthening creative technology institutions, and the continued thrust under Skill India reflect a strong focus on industry-aligned, job-ready skilling. With the AVGC industry expected to require over 2 million skilled professionals by 2030, sustained hands-on training, curricula aligned with emerging technologies, and deep collaboration between government, academia, and skilling partners will be critical to building a globally competitive and future-ready creative workforce". - Mr. Sandip Weling, Whole-time Director and Chief Business Officer – Global Retail, Aptech Limited.
Mr. Paul Salnikoff, Managing Director and CEO, Executive Centre India Limited.
“The Union Budget underscores the government’s continued focus on strengthening urban infrastructure and improving capital access for long-term commercial development. Over the past decade, instruments such as REITs and InvITs have enhanced transparency and institutional participation in India’s real estate ecosystem. The proposed infrastructure risk guarantee fund and calibrated partial credit guarantees further reinforce lender confidence by addressing construction-phase risks. For enterprise-focused workspace providers operating in India’s leading business districts, these measures support the creation of high-quality, professionally managed office environments aligned with evolving occupier expectations. The parallel emphasis on strengthening hospitality and service-led institutions also contributes to building a skilled, customer-centric workforce, supporting sustainable growth across office and workspace platforms.”
Ayush Jhawar, Founder and CEO of Genefied
"In the 2026-27 Union Budget, it's clear that India is laying the groundwork for becoming a world leader in the realm of AI and data-driven innovation. The spending plan for the budget is heavily invested in the development of a well-structured AI ecosystem and setting up a comprehensive digital infrastructure for the retail category. In addition, it's going after practical measures that will fire up the economy, primarily powered by technology.
The government's decision to zero in on the development of AI capabilities, teaming up with the private sector, and boosting the foundations of digital knowledge is completely in line with its goal of supercharging data-driven solutions. The specific sector support for the adoption of AI for the retail segment is another striking highlight of the Union Budget of this year. From aiding services to manufacturing, the measures announced suggest that the policymakers are serious about embedding AI into the heart of economic strategy.
This budget is a massive boost to enabling Indian AI companies to stand out on the global stage by kick-starting responsible innovation that is in sync with the demands and values of society. This budget is a step in the right direction and will lead to AI-driven productivity, a fairer society, and sustainable wealth creation across industrial ecosystems, including the retail one."
The comment responds to today's budget announcement and highlights key implications. Please feel free to use it in full or in part, and let me know if you'd like additional context or a follow-up comment.
Mr. Gaurav Sachdeva, Joint Managing Director and CEO, JSW One Platforms Limited-
"Budget 2026 takes a structured approach to strengthening MSMEs by addressing three persistent gaps - equity, liquidity, and capability. Measures such as the SME Growth Fund, stronger invoice-based financing through TReDS, and professional support via Corporate Mitras are aimed at improving cash-flow predictability and execution capacity, particularly beyond the metros.
This is less about short-term stimulus and more about building systems that allow manufacturing and construction MSMEs to scale with discipline."
Bhaktha Keshavachar, Co-founder & CEO, Chara Technologies
“The government’s decision to strengthen rare earth mining and processing through dedicated corridors is a timely and necessary step to secure India’s strategic materials base. While mining is critical for semiconductors, defence, and advanced electronics, motors are a segment where substitution is now possible without rare-earth materials. It is important that rare-earth-free motor technologies should also be recognised within existing incentive frameworks. Rare-earth mining and magnet-independent motor technologies must therefore coexist as complementary efforts. Innovation is steadily reducing our dependence on primary materials through substitution and lower material usage. Indian companies, shaped by frugal engineering and practical problem-solving, are well placed to build solutions that scale locally and resonate globally. In the long run, a strong domestic mining base combined with advanced material alternatives will make India’s supply chains more resilient and future-ready.”
Sachin Pande, Managing Director, Virtual Galaxy Infotech Ltd -
"The Budget sends a positive message for the technology and services sector. The move to simplify IT services tax rules under a single category, along with a higher safe harbour threshold and automatic approvals, brings much-needed clarity and ease of compliance. At the same time, the focus on innovation, digital infrastructure and skill development gives companies the confidence to continue investing in digital solutions for BFSI and enterprise clients, while supporting India's broader digital transformation journey."
Mr. Umesh Kumar Sahay, Chairman & Managing Directorr, EFC (I) Limited-
"The Union Budget 2026, built on the framework of the Government's three 'Kartavya'—accelerating economic growth, building capacity and ensuring inclusive development—creates a supportive policy environment for the expansion of India's services-led and urban-centric economy. The Budget's emphasis on infrastructure development, City Economic Regions, Tier II and Tier III cities, and ease of doing business strengthens the demand for organised, flexible and professionally managed office spaces that cater to entrepreneurs, SMEs and large enterprises. These measures reinforce the long-term relevance of high-quality, accessible work environments, positioning EFC (I) Limited to participate meaningfully in India's journey towards a more productive, resilient and inclusive urban ecosystem."
Vibhor Kaushik, Promoter & Managing Director, Vibhor Steel Tubes Limited
"The 10.9% growth in capital expenditure for FY27 reflects the Government's sustained commitment to the vision of Viksit Bharat 2047. With capital outlay increased to ₹12.2 lakh crore and continued investments in across transport, railways, energy and manufacturing, the Union Budget provides strong demand visibility for steel-intensive segments. The added focus on strengthening Tier II and Tier III cities through modern infrastructure, water supply and essential amenities is clearly positive for companies like ours, given our presence in steel pipes, power transmission poles and crash barrier manufacturing—key enablers of India's expanding infrastructure network."
Ramveer Singh, Chairman, EMS Ltd –
"The Union Budget 2026 is focused on infrastructure, inclusion and industry – to support the Government's audacious vision for a Vikasit Bharat by 2047. The focus on developing city economic regions to drive regional growth and urban development, and more importantly, expanding market-based funding options for urban local bodies, has huge potential for harnessing their fiscal independence and project investment capabilities.
Besides, the sustained thrust on AMRUT scheme and focus on developing newer tier 2 and 3 towns will further boost the demand for water management and infrastructure services across the country
Vinesh Mehta, Chairman, Abhay Ispat –
"The Union Budget 2026 lays a strong foundation for India's infrastructure and industrial growth. With renewed emphasis on urban development, affordable housing, transportation, renewable energy, and manufacturing, steel will play a pivotal role in realising these ambitions. As demand grows across construction, automotive, railways, and energy sectors, the Budget's focus on domestic manufacturing, technological upgrades, and sustainable practices is set to strengthen the steel industry's contribution to India's growth story. Also, aligning with the roadmap launched in December 2025, CCUS technologies will be scaled across power, steel, cement, refineries, and chemicals, backed by an outlay of ₹20,000 crore over the next five years."
Mr. Vijay R Oswal, Founder & Chief Financial Officer, MARKOLINES Pavement Technologies Ltd
"The Union Budget 2026 reinforces the Government's sustained focus on infrastructure development, with particular emphasis on execution quality, asset productivity, and lifecycle efficiency in the highways sector. The continued commitment to capital expenditure provides long-term visibility and stability for infrastructure operators.
For Markolines, this policy direction aligns closely with our core focus on highway operations and maintenance. As the sector progressively shifts toward performance-based, annuity-oriented, and long-term O&M frameworks, we see meaningful opportunities to expand our portfolio in a disciplined and selective manner.
Our strong execution track record, specialised O&M capabilities, and prudent financial management position us well to participate in the next phase of infrastructure growth. We remain focused on scaling responsibly, leveraging our skills to other infra sectors and delivering sustainable value for our investors and stakeholders."
Mr. C. Mruthyunjaya Swamy- Chairman and Executive Director at Denta Water and Infra Solutions Limited
"Budget 2026-27 marks a watershed moment for India's water infrastructure with unprecedented focus on sustainable resource management. The ₹12.2 lakh crore infrastructure allocation and development of 20 new National Waterways signals strong government commitment to water security. The emphasis on integrated development of 500 reservoirs and Amrit Sarovars presents significant opportunities for the water infrastructure sector, particularly in groundwater recharge and aquifer restoration. The proposed Infrastructure Risk Guarantee Fund will de-risk water projects, accelerating critical initiatives for India's long-term water security. As the government prioritises City Economic Regions and environmentally sustainable infrastructure, the water management sector is poised to play a pivotal role in building India's water-resilient future."
Trishneet Arora, Founder & CEO, TAC Infosec, said:
"We applaud Prime Minister Modi and the Government of India for a visionary Budget that recognises robust cybersecurity as foundational to India's digital growth. By strategically investing in cyber infrastructure, advanced technology, AI, and innovation, the government is ensuring our national systems remain secure, resilient, and future-ready. This forward-looking approach not only safeguards critical data and infrastructure but also empowers businesses and citizens, reinforcing trust and positioning India as a global leader in the digital economy."
Kirang Gandhi Pune based Financial Mentor
In Budget 2026, the government offered major relief for accident victims. Interest awarded by Motor Accident Claims Tribunals (MACT) is now fully exempt from income tax, and TDS has been abolished, ensuring full payouts without deductions. This reform reduces delays, financial loss, and paperwork for victims and families, especially those relying on compensation for medical expenses, recovery, or loss of income after road accidents.
Manoj Kumar Jhawar, Chairman and Managing Director, PTC India Ltd
"Union Budget 2026-27 is a visionary blueprint which has shifted the needle from "capacity addition" to "systemic resilience". As India accelerates towards its goal of Viksit Bharat by 2047, the Budget has set the tone for the next phase of energy transition, which not merely depends on generating green power, but in our ability to store, transmit and trade it efficiently.
By exempting basic custom duty for capital goods for manufacturing Lithium-ion cells for batteries and battery energy storage systems (BESS), the government has paved the way for round-the-clock renewables, effectively transforming intermittent green energy into firm, dispatchable power. This will significantly deepen the power markets and allow traders like PTC to offer more reliable renewable solutions to utilities and C&I consumers."
"Budget 2026 sends a strong signal that India is serious about building global leadership in high-value agri-commodities. By positioning coconut, cashew, and sandalwood as premium brands while restoring native ecosystems, the government aligns farmer incomes, sustainability, and export ambition. Targeted fertilizer allocations and the Output-Outcome Monitoring Framework ensure efficiency and measurable impact, while dedicated R&D outlays support climate-smart innovations. Investments in ICT and AI, integrating AgriStack and ICAR practices, help farmers assess risks and optimize yields. Initiatives like Bharat Vistaar and focused support for fisheries and animal husbandry strengthen rural value chains, connecting production to global markets and shifting growth from volume-led to value-driven resilience." - Dr. Renuka Diwan, Co-Founder & CEO, BioPrime.
Dulles Krishnan, VP, Go to Market, Avalara, "The steps announced for the textile sector are practical and long overdue, and importantly, they mark the first move toward fixing long-standing structural gaps. New parks, stronger clusters and focused skilling under Samarth 2.0 will directly improve production quality, which is the true driver of sustainable export growth.
What stands out is the government's plan to facilitate modular training programmes for 'Corporate Mitras' who can help MSMEs navigate regulatory compliance. This is a critical intervention. If this model is expanded to cover export-specific requirements as well, it can remove one of the biggest bottlenecks small manufacturers face today.
Clearer district-level product identities, along with structured support for khadi, handlooms and handicrafts, will also change how global buyers perceive India - from a low-cost supplier to a dependable and diverse sourcing destination. When better production is matched with faster, clearer compliance, Indian textile businesses can reach international markets quicker, compete more effectively, and build steady, long-term export growth.
Imtiyaz Khatib, VP, Product Management, Avalara India, said, "The proposal to introduce modular training programmes for 'Corporate Mitras' is a meaningful step for MSMEs, particularly at a time when regulatory complexity continues to be a major growth constraint for smaller businesses.
By creating a trained layer of professionals who can help MSMEs navigate compliance requirements, this initiative has the potential to reduce friction, improve formalisation and speed up business operations. While the immediate focus is on domestic regulatory support, the same framework can be extended over time to cover export-related compliance as well. As SMEs and MSMEs begin supplying to international markets, they will face varied tax rules, documentation standards, and reporting requirements across jurisdictions, and will need structured guidance to navigate these complexities.
Such an evolution would help MSMEs scale with greater confidence, reduce regulatory uncertainty and prepare more businesses to participate effectively in global markets as they mature."
By Deepak K Jain, Group CFO, Tenon Group
The Union Budget 2026 presents a balanced and pragmatic framework, reinforcing the Government's commitment to economic stability, fiscal discipline, and long-term sustainable growth. The continued emphasis on capital expenditure, infrastructure development, and urban expansion reflects confidence in India's growth trajectory, while maintaining prudence on the fiscal front.
The focus on fiscal consolidation and strengthening macroeconomic fundamentals is a positive step towards creating a stable and predictable environment for businesses and investors. Further, initiatives aimed at enhancing ease of doing business, rationalising compliance, and improving regulatory clarity are expected to support enterprises across sectors and drive operational efficiencies.
A particularly welcome development is the proposed implementation of the Income Tax Act, 2025, which aims to simplify the tax framework through clearer provisions, reduced complexity, and streamlined compliance processes. The move towards easier filings, greater transparency, and reduced interpretational ambiguities will help lower compliance costs and improve overall tax certainty for taxpayers.
Overall, Budget 2026 provides a steady and credible roadmap for sustainable economic growth, encouraging responsible investment, strengthening investor confidence, and reinforcing India's position as a resilient and attractive economic destination.
Ankit Virmani, Director, Esskay Beauty Resources
"The Union Budget 2026 is a positive step for India's beauty, personal care and salon industry, with a strong focus on MSMEs, skilling and entrepreneurship. The proposed SME Growth Fund and easier access to credit can be a real boost for new salons and independent beauty professionals, helping them grow sustainably and become part of the formal economy.
Support for domestic manufacturing, including chemical parks and reduced import dependency, will benefit the beauty and cosmetics sector by improving access to quality raw materials, stabilising supply chains and encouraging innovation.
The continued emphasis on education and industry-aligned skilling will help create a more job-ready workforce and open long-term career opportunities across salons, retail and manufacturing."
Sanket S, Founder, Scandalous Foods
"The Union Budget 2026 brings practical positives for the frozen food and manufacturing sector. The focus on cold chain infrastructure and reducing post-harvest wastage, along with the ₹10,000 crore SME Growth Fund, will help brands like Scandalous Foods scale distribution while maintaining quality.
Doubling the startup credit guarantee limit to ₹20 crore and strengthening invoice discounting through TReDS will ease both capex expansion and cash flow challenges. The recognition of mental health through the NIMHANS 2.0 initiative, along with measures like raising the rental TDS threshold, makes this a balanced Budget that supports both business growth and the people behind it."
Anant Bengani, Co-Founder & Director, Zell Education
"The Union Budget 2026 makes a strong statement about linking education directly with employability and enterprise. The proposed 'Education to Employment and Enterprise' framework, focus on services-led growth, and emphasis on modular, industry-aligned professional courses signal a clear intent to make India's youth job-ready and globally competitive. Initiatives that promote skill development, professional certifications, and university-industry collaboration will significantly strengthen the talent pipeline for sectors like finance, accounting and business services. We believe these measures will accelerate demand for outcome-driven education and career-focused learning, helping learners transition seamlessly from classrooms to the workforce."
Shivendra Nigam, CFO, Cantabil Retail India Ltd
"We welcome the Union Budget 2026's strong and much-needed focus on the textile and apparel ecosystem. The Government's push towards modernising traditional clusters, setting up Mega Textile Parks, supporting technology upgradation, and strengthening skilling through initiatives like Samarth 2.0 will significantly enhance India's competitiveness as a global manufacturing hub. The extension of export timelines and improved infrastructure will also ease supply chain challenges for organised apparel brands. These measures not only encourage domestic production but also create large-scale employment and consumption growth, which are critical for the retail sector."
Pavan Kushwaha, CEO of Threatcop & Kratikal
We see the Union Budget 2026 as a strong, forward-looking step toward building a resilient, technology-first India. The push for AI adoption, industry-led research, and large-scale skilling—along with simpler tax and compliance frameworks for IT services creates a more enabling environment for faster digital innovation. As enterprises and government systems digitise at scale, secure, trusted infrastructure will become non-negotiable. In that context, the Budget's focus on strengthening digital capabilities and modernising systems aligns directly with the growing need for cybersecurity, risk management, and People Security Management because technology is only as secure as the people using it. Overall, this Budget reinforces India's ambition to become a global technology powerhouse, while keeping security and human risk reduction as core pillars of sustainable growth.
Shrenik Gandhi, Co-founder and CEO, White Rivers Media
India's Next Growth Chapter Will Be Written by Creators, Builders, and Technologists, powered with AI
Budget 2026 opens with a clear belief in India's orange economy - creativity, content, culture, and creators as real economic engines. By backing AVGC, sports, and creative education, it recognises the creator economy as an increasingly serious source of jobs and global influence. This marks a shift from viewing creativity as soft power to treating it as economic power.
The larger message is that India's growth will now be built on talent, not just infrastructure. Yuva Shakti is positioned as both a demographic advantage and an entrepreneurial force. Startups are being acknowledged as core builders of scale, efficiency, and innovation. The focus on services signals confidence in India leading value-driven global exports.
Artificial Intelligence clearly emerges as a key growth multiplier across sectors - from farms to classrooms to enterprises. What stands out is the intent to use AI to augment human capability, not replace it. Access to risk capital for MSMEs and women entrepreneurs remains a critical foundation. Job creation is being approached through skills, platforms, and long-term ecosystem thinking. Overall, Budget 2026 reinforces that India's next decade will be defined by builders, creators, and problem-solvers.
