Punjab: Industry sees growth, but MSME cuts raise concern
A cross-section of industrialists in Punjab, unlike the political leadership and farm unions, have welcomed the Union Budget presented today. Industry leaders, particularly from the pharmaceutical, textile and hand tools sectors, said the Budget signalled support for growth, innovation and exports.
Amit Gupta, managing director and founder of Ludhiana-based generic drug manufacturer Leeford Healthcare Limited, welcomed the announcement of Biopharma SHAKTI, a Rs 10,000-crore outlay spread over five years to strengthen India’s ecosystem for biologics and biosimilars.
He said the initiative aligned with his company’s focus on affordable medicines and self-reliance in biologics, which was critical for managing chronic diseases. The move, he added, would boost innovation and reinforce India’s position as a global biopharma manufacturing hub. Dr Pushpendra P Singh, Dean CAPS and Project Director at the IIT, Ropar, said the Budget reflected the government’s vision of transforming agriculture through technology. He described the launch of Bharat Vistaar as a major step towards providing farmers with AI-driven, climate-smart support to improve decision-making, manage weather-related risks and enhance productivity.
He said Biopharma SHAKTI aimed at making India a global biopharma hub within five years through a dedicated network, including three new national institutes of pharmaceutical education and research and the upgradation of seven existing ones, along with the creation of more than 1,000 accredited clinical trial sites.
Ranjit Singh Josan, a rice exporter from Ferozepur, said the Budget reflected the government’s intent to strengthen the economy, improve farm incomes, support MSMEs and promote exports. However, he expressed disappointment over the absence of export subsidies or interest support for rice exporters. However, not all industry voices were optimistic. Badish Jindal, president of the World MSME Forum, said allocations for MSMEs had been sharply reduced from Rs 22,896 crore in 2025-26 to Rs 11,800 crore in the coming fiscal. He also flagged cuts in skill development and employment guarantee schemes.
