Signals clarity, growth push, says India Inc

Industry leaders across sectors on Sunday welcomed the Union Budget 2026, saying it sends a clear signal of policy stability, long-term intent and a renewed push towards domestic capability building amid persistent global economic uncertainty.

From biopharma and automobiles to technology, defence and IT services, corporate leaders said the Budget balances fiscal discipline with targeted interventions to support investment, innovation and self-reliance.

Welcoming the focus on biosimilars, Ashok Nair, MD of RPG Life Sciences, said the Biopharma Shakti initiative was a “strong and timely signal” of India’s ambition to scale up globally.

“What makes this announcement practical, not just aspirational, is the focus on enabling infrastructure — a biopharma-focused network with three new NIPERs, upgrades to seven existing NIPERs, a network of 1,000-plus accredited clinical trial sites, and strengthening the CDSCO to meet global standards and improve approval timelines,” Nair said.

Himanshu Arya, founder of Luxury Cart, said duty relief on lithium-ion batteries and cobalt would help lower EV manufacturing costs.

“Investments in critical mineral security and automotive-grade semiconductors, along with higher capital expenditure and improved rural connectivity, create a more predictable environment for mobility players,” he said.

Calling the Budget a confidence booster, CII president Rajiv Memani said it presented a “strong and credible roadmap” for strengthening India’s competitiveness.