Union Budget evokes encouraging response from industry experts

Visakhapatnam: The Union Budget 2026-27, tabled by Finance Minister Nirmala Sitharaman, received an encouraging response from industry leaders and experts in Visakhapatnam. Some of the industry leaders and experts share their views on how the budget strengthens Visakhapatnam as a port-led hub for industry, pharma, logistics, emerging technologies and agriculture, among other sectors.

Sharing his views, Chairman of Confederation of Indian Industry (CII), Visakhapatnam D V S Narayana Raju, said, “Initiatives like Biopharma Shakti, cloud service tax holidays, container manufacturing, aerospace duty exemptions and support for high-value crops and fisheries will attract investments, boost exports, create jobs and enhance regional competitiveness positioning Visakhapatnam as a leading industrial, digital and life sciences hub on India’s east coast.”

Speaking on the occasion, Vice chairman of CII G Krishna Mohan said the proposed tax holiday till 2047 for global cloud service providers is a transformative step that positions India as a preferred destination for hyperscale data centres. He noted that Visakhapatnam, with its robust port connectivity, reliable power infrastructure, availability of land and growing digital ecosystem, is well placed to attract large-scale data centre investments.

Talking about the benefits Visakhapatnam could derive from the budget, CEO of Ajinomoto Bio-Pharma Services I Pvt. Ltd KVV Raju mentioned that support for biologics and biosimilars manufacturing, expansion of clinical trial infrastructure and a stronger regulatory framework will attract high-value R&D and global pharma investments to the region. The proposed medical tourism hubs and expansion of allied healthcare workforce further position Visakhapatnam as a leading life sciences and healthcare hub for eastern India with strong international connectivity through Visakhapatnam Port and other upcoming Port based infrastructure in Andhra Pradesh.

G Sambasiva Rao, Managing Director, Sravan Shipping Services Pvt Ltd, said the sharp rise in public capital expenditure, along with new freight corridors, coastal cargo promotion and national waterways development will significantly strengthen Visakhapatnam’s position as a key maritime and logistics gateway.

D Tirupathi Raju, executive chairman, Vijaynagar Biotech Pvt Ltd, said Budget 2026’s stresses on high-value crops, value addition and technology-driven agriculture will strongly benefit Andhra Pradesh’s agrarian and coastal economy. The launch of the AI-enabled Bharat Vistar platform will help Andhra Pradesh’s farmers adopt scientific practices, improve productivity and build a more resilient, future-ready agricultural ecosystem.

Talking about healthcare sector, K. Anindith Reddy, MD and Co-founder of Wadi Surgicals Pvt Ltd (Enliva), said: “The Rs.2,000 crore top-up to the Self-Reliant India Fund in Union Budget 2026 is a timely step for manufacturing MSMEs built under the Atmanirbhar Bharat mission.

Access to growth capital has been a key constraint, and this measure directly addresses that gap while reinforcing the focus on self-reliant, scalable enterprises.”

However, even as industry experts find the 2026 Union Budget relief-inducing for a bunch of sectors, leaders of the Opposition mentioned that the middle-class could feel the pinch as the budget has doubled up the financial burden on India’s middle-class as the daily living costs have surged beyond control.