Policy to Progress: Industry Reacts to the Union Budget 2026
Industry leaders share their reactions to the Union Budget 2026, highlighting key policy reforms, sector-wise impact, growth opportunities, tax changes, and expectations for economic progress.
The Union Budget 2026 has been widely interpreted as a strategic blueprint designed to accelerate India’s transition toward a high-growth, innovation-driven economy. With policy attention directed at infrastructure expansion, manufacturing competitiveness, digital enablement, and financial resilience, the Budget underscores a governance approach that blends macroeconomic stability with future-ready investments.
Industry observers note that the government’s continued prioritisation of capital expenditure and institutional financing frameworks reflects a deliberate attempt to crowd in private investment while sustaining long-term development momentum.
Ms. Somdutta Singh, Serial Entrepreneur, Founder & CEO, Assiduus Global
“We welcome the Union Budget 2026-27 presented by our honorable Nirmala Sitharaman. She has created history with her 9th consecutive Budget. What I appreciate most is that the Budget is honest about global volatility, tariff pressures, and geopolitical uncertainty. Instead of reacting to it, it stays focused on productivity, competitiveness, and execution. The message is clear. Growth will come from building strength, not from shortcuts.
The increase in public capital expenditure to ₹12.2 lakh crore for FY 2026-27, up from ₹11.2 lakh crore last year and ₹2 lakh crore a decade ago, reflects that thinking. For e-commerce and cross-border trade, this has very real implications. Export margins are often decided by how predictable logistics are and how much cash gets stuck while goods are moving. Freight corridors, 20 national waterways over the next five years, a push to double coastal cargo to 12% by 2047, and ₹5,000 crore a year for city economic regions all help goods move faster and more reliably. When this is combined with the Infrastructure Risk Guarantee Fund, container manufacturing support, and asset recycling through REITs, it becomes easier for operators and lenders to commit for the long term. These changes are big ones and they're exactly what e-commerce exporters need to scale.”
Mr. Ramji Subramaniam, Managing Director, Sowparnika Projects:
“The Union Budget 2026 presents a balanced and forward-looking roadmap for India’s growth, reiterating the government’s commitment to the real estate and infrastructure ecosystem and long-term economic stability. The emphasis on sustained capital expenditure, asset monetisation, and risk-sharing mechanisms is significant, as it improves access to capital and supports faster and more efficient project execution. Furthermore, the continued focus on Tier-1 and Tier-2 cities, along with temple cities, infrastructure expansion, is expected to ease pressure on metros while unlocking new housing and employment hubs. Together, these measures strengthen developer confidence, encourage private investment, and support steady end-user demand, especially in affordable and mid-income housing, creating a stronger, execution-driven housing cycle.”
Mr. Darshan Govindaraju, Executive Director at Vaishnavi Group:
“The Union Budget 2026 reaffirms real estate as a key driver of India’s growth, supported by a balanced thrust on infrastructure expansion, employment creation through technology and medical-tourism hubs, and asset monetisation via REITs. These measures open up meaningful opportunities across both commercial and residential development, while accelerating enterprise–developer partnerships for built-to-suit medical infrastructure. The emphasis on technology-led development and financing is particularly encouraging and will drive greater efficiency, scale and institutional participation in the sector.”
Mr. Madhusudhan G, CMD, Sumadhura Group:
“The Union Budget 2026 places infrastructure and urban development at the centre of economic momentum, creating a strong operating context for real estate over the medium term. Higher public capital expenditure, city-focused planning, and asset monetisation tools collectively set the tone for steady, broad-based urban expansion.
The introduction of the Infrastructure Risk Guarantee Fund is particularly relevant for residential development. Partial credit guarantees during the construction phase can improve funding continuity and reduce execution risk, supporting timely project delivery and reinforcing buyer confidence in large developments.
Urbanisation initiatives built around City Economic Regions and high-speed rail corridors are equally important. Improved connectivity between employment centres and emerging cities can widen residential catchments, support housing demand beyond traditional cores, and encourage more balanced urban growth.
Public asset recycling through CPSE-led REITs adds depth to this framework by bringing underutilised land and buildings into productive use. Such measures often act as catalysts for surrounding residential and commercial activity, strengthening local real estate ecosystems.
The Budget’s emphasis on infrastructure investment, financial system stability, and capital market participation provides a supportive backdrop for housing, rental formats, and specialised real estate segments. For developers, this environment rewards disciplined execution, location alignment, and long-term planning anchored in infrastructure-led growth corridors.”
Dheeraj Keshav, Director, Arna Dairy
“The 2026 Union Budget provides vital support for dairy infrastructure and supply chain enhancements, enabling organised players like Arna Dairy to modernise operations. This will reduce wastage, improve milk quality, and stabilise farmer incomes. We’re optimistic
about scaling responsibly for a stronger rural economy.”
Ramanath Manchala, consultant, Taylor&Company
“At a strategic level, the 2026–27 Budget marks a consolidation of India’s trade and competitiveness agenda rather than a short-term course correction. By reinforcing manufacturing-led exports through PLI-driven scale creation, rationalisation of input-side customs duties, and export facilitation, the Budget demonstrates a clear policy belief that sustainable trade resilience must be anchored in production capability, cost competitiveness, and supply-chain depth.
This approach reflects a deliberate shift away from incentive-led interventions toward structurally strengthening India’s export base. While the direction is clearly constructive, outcomes will ultimately depend on execution discipline—particularly access to competitive long-term capital, speed of capacity expansion, and effective alignment across trade, fiscal, and industrial policy. If implemented cohesively, the Budget has the potential to move India up the global value chain and materially strengthen its trade position over the medium term.”
Nida Fatima, Founder – Unstoppable India & Nida Cosmetics
“The Union Budget’s emphasis on entrepreneurship, MSME growth, and women-led enterprises reflects a growing recognition that India’s next phase of economic expansion will be driven by grassroots innovation and founder-led ecosystems. Continued policy support for startups, simplified compliance frameworks, and access to capital create a more inclusive environment for emerging brands and media enterprises to scale sustainably.
For young founders and creative entrepreneurs, these measures translate into stronger confidence to build, reinvest, and formalize their ventures. A budget that supports small businesses, digital platforms, and local manufacturing not only fuels economic resilience but also empowers individuals to convert ideas into impact-driven enterprises. Strengthening this ecosystem is essential for job creation, self-reliance, and a more balanced growth story for India.”
Ms. Neelu Jain, Director, SNN Raj Corp :
“The Union Budget reinforces how India’s urban growth is becoming more interconnected and opportunity led. Continued investment in infrastructure expansion is accelerating the formation of new economic corridors, while employment creation driven by technology, healthcare and allied services is reshaping where people choose to live and spend. The emergence of medical tourism hubs and innovation clusters is generating steady, end user led demand for both residential living and neighbourhood retail. At the same time, clearer pathways for asset monetisation through REITs are strengthening confidence in long term, income generating real estate. Together, these measures are creating a more balanced development environment where quality housing and well planned retail evolve alongside jobs, connectivity and capital discipline. The next phase of growth will favour developers who focus on durability, livability and relevance over time.”
Mr. Aditya Chellaram, Executive Director at Featherlite Developers :
“The Union Budget underlines a decisive shift in how India’s commercial real estate ecosystem is maturing. Sustained infrastructure expansion is enabling the rise of new business corridors, while employment generation driven by technology, healthcare and knowledge led industries is redefining where enterprises choose to operate. The growth of medical tourism hubs and innovation clusters is further strengthening demand for high quality, efficiently planned commercial spaces that can support long term occupiers. In parallel, clearer frameworks for asset monetisation through REITs are reinforcing confidence in income generating commercial assets. Together, these measures are moving the market away from speculative development toward durable, operationally efficient commercial real estate built for longevity and resilience.”
Ankur Srivastava, Founder, QI Media Network:
“The Union Budget 2026 sends a strong message of economic continuity and structural reform. The emphasis on infrastructure, digital ecosystems, and entrepreneurial growth creates a supportive environment for both startups and established enterprises. Access to capital, faster formalisation, and policy clarity will play a decisive role in improving business sentiment.
That said, the real opportunity lies in execution. Streamlined regulations and faster on-ground implementation will determine how effectively these policy intentions translate into measurable economic outcomes.”
Animesh Kumar , Co-Founder Global PR Connect ( GPRC)
“Budget 2026 strikes a balance between fiscal discipline and growth ambition, empowering MSMEs, boosting infrastructure, and nurturing youth potential. It reflects reform over rhetoric, positioning India for sustainable expansion while ensuring inclusivity and resilience in a dynamic global economy.”
A Budget Anchored in Execution
Taken together, the Union Budget 2026 reflects a strategic pivot toward execution-led growth—where infrastructure acts as the backbone, capital markets provide depth, and technology drives productivity. By strengthening financing mechanisms, promoting renewable adoption, and enabling urban expansion, the government appears to be positioning India for a more resilient and investment-friendly decade.
For industry, the message is clear: the next phase of growth will likely reward organisations that prioritise scale, governance, sustainability, and long-term value creation over short-term gains.
As the implications of the Union Budget 2026 begin to unfold, its true impact will ultimately be measured by the speed and consistency of implementation. The policy direction is unmistakably geared toward infrastructure-led expansion, technology adoption, sustainable industrialisation, and deeper capital market participation—elements widely regarded as essential for India’s next phase of growth. For businesses and investors alike, the Budget offers both reassurance and opportunity, reinforcing confidence in India’s long-term economic narrative. If execution keeps pace with intent, Budget 2026 could well mark a defining step toward a more resilient, investment-ready, and globally competitive economy.
