Archives February 2026

By:- Mr. Rohit Mahajan, Founder and Managing Partner, plutos ONE

The Union Budget 2026 is a decisive step in India’s journey towards becoming a Viksit Bharat, with a strong, execution-led focus on SMEs, MSMEs, skill development, and travel-driven demand creation. The Finance Minister, Nirmala Sitharaman, has clearly shifted the narrative from short-term relief to long-term competitiveness and scale. The announcement of a ₹10,000 crore MSME Growth Fund is a landmark move, aimed at building tariff-resilient, export-ready enterprises rather than subsidy-dependent businesses. This will enable high-potential MSMEs to invest in technology, productivity enhancement, and global market access—key pillars for India’s manufacturing and export ambitions.

Equally transformative is the integration of GeM with TReDS and the move to make TReDS receivables tradable through asset-backed securities. This structural reform directly addresses the long-standing working capital challenges of MSMEs by converting invoices and receivables into bankable, market-linked assets, thereby lowering the cost of capital and improving liquidity.

In this context, Plutos ONE is actively working with Bharat Connect to enable Bharat Connect for Business, focused on invoice-based lending solutions for MSMEs and SMEs. By leveraging digital rails and receivables-based financing, such initiatives align seamlessly with the Budget’s vision of formalisation, credit deepening, and sustainable growth. Overall, Budget 2026 lays a strong foundation for self-reliance, exports, and inclusive economic expansion.

By:- Mr. Mukesh Pandey, Director of Rupyaa Paisa

The proposal to revive 2,000 industry clusters alongside the creation of a ₹10,000 crore MSME growth fund is a strong signal of the government’s intent to strengthen India’s entrepreneurial backbone. Industry clusters play a critical role in improving productivity, enabling shared infrastructure, and fostering local employment, while dedicated growth capital can help MSMEs scale operations and adopt technology. This combined approach addresses both structural and financial challenges faced by small businesses. If implemented effectively, the initiative can enhance competitiveness, formalisation, and credit access for MSMEs, while driving sustainable economic growth and supporting India’s broader manufacturing and employment objectives.

Mr. Hemant Tiwari, Managing Director – India & SAARC, Hitachi Vantara

“The Union Budget 2026–27 is a significant step in strengthening India’s digital and data infrastructure. By providing long-term incentives and a clear safe harbour framework for data centres and cloud services, the government is fostering global investment, technological innovation, and the adoption of emerging technologies such as AI. Supporting infrastructure development in Tier 2 and Tier 3 cities positions India to become a global hub for data, cloud, and IT services, creating new opportunities for talent and sustainable economic growth.”

Srinivas Nandigam, Managing Director – Global Capability Centre, Advance Auto Parts India

“The Budget reinforces India’s commitment to building a future-ready talent ecosystem. Clear taxation policies for skilled global professionals, combined with a focus on emerging technologies and AI, will enable aligned talent development and deeper expertise. These measures strengthen India’s ability to nurture high-quality talent and advance its role as a global services leader on the path to 2047.”

Mr. Subhakar Pappula, Founder & CEO, Flamingo Aerospace

“Union Budget 2026–27 is a timely intervention for India’s civil aviation sector. Exemption of customs duties on aviation components and raw materials will enhance domestic manufacturing, MRO capabilities, and global competitiveness. These measures will accelerate aircraft production, expand infrastructure, create skilled employment, and advance India’s emergence as a regional aerospace hub, supporting the goals of Make in India and Atmanirbhar Bharat.”

Deepak Verma, CEO, EnglishHelper

“The Budget marks a pivotal step in shaping a future-ready learning ecosystem. By integrating skilling initiatives and emerging technologies like AI, it strengthens workforce employability and global competitiveness. Emphasis on tech fluency, language skills, and adaptive learning ensures India’s human capital thrives in an AI-driven world.”

Parimal Heda, Chief Investment Officer, Go Digit General Insurance

“Budget 2026 balances growth, inclusion, and institutional reform while giving the insurance sector confidence to invest in reach, resilience, and product innovation. Measures across motor, health, travel, marine, cargo, and credit insurance—alongside incentives for EV and lithium-ion value chains—improve efficiency, reduce costs, and expand coverage. Coupled with structural reforms, record capital expenditure, and reduced debt-to-GDP targets, this Budget provides a strong platform for sustainable, long-term growth.”

Padmashri Dr. A. Sakthivel, Chairman, Apparel, Made-Ups, and Home Furnishing Sector Skill Council (AMHSSC)

“Union Budget 2026–27 is a landmark, ‘Yuva Shakti’-driven roadmap that places the Indian textile and apparel ecosystem at the center of our journey toward Viksit Bharat. On behalf of the Apparel, Made-Ups, and Home Furnishing Sector Skill Council (AMHSSC), I congratulate PM Shri Narendra Modi ji and Finance Minister Nirmala Sitharaman ji for a visionary strategy that directly addresses the needs of our labor-intensive sector.

The package demonstrates strong intent to modernize the sector, strengthen livelihoods, and enhance India’s competitiveness in domestic and global markets. Key highlights include:

End-to-End Sector Focus: The National Fibre Mission, covering natural, man-made, and specialty fibres, will enhance raw material security, reduce import dependence, and improve cotton yields through the Mission for Cotton Productivity. This will promote extra-long staple varieties, raise farmer incomes, and ensure quality inputs for industry.

Support for Traditional and Cluster-Based Textiles: Initiatives like the Mahatma Gandhi Gram Swaraj Initiative and the National Handloom and Handicrafts Programme will strengthen khadi, handloom, and handicrafts through improved market access, value addition, and cluster modernization—sustaining employment and local economies.

Skilling and Modernization: Samarth 2.0 and allied skilling programs will equip workers with modern manufacturing and design skills, fostering productivity gains and adoption of Industry 4.0 technologies.

Sustainability and Scale: The Textile Eco Initiative and new Mega Textile Parks will promote environmentally sustainable production, improve compliance and traceability, and create integrated hubs for investment and exports.

Trade and MSME Support: Measures such as customs duty exemptions on key textile machinery, targeted tariff rationalization, enhanced MSME credit support, BharatTradeNet, and the Export Promotion Mission will lower costs and boost export competitiveness.”

Mr. Shekhar Singal, Managing Director, Eastman Auto & Power Limited

“The Union Budget reinforces policy continuity for India’s energy transition by strongly backing domestic manufacturing, clean mobility, and decentralized renewable energy adoption with storage. With India expected to account for nearly 30% of global energy demand growth by 2035, the Budget’s emphasis on renewable capacity expansion, grid integration, and reliable power delivery is both timely and strategically aligned with the country’s long-term clean energy ambitions. The exemption of basic customs duty on select capital goods, along with the addition of 35 capital goods for EV battery manufacturing, will provide a meaningful boost to domestic battery manufacturing and energy storage capabilities. In parallel, the ₹40,000-crore push for electronics manufacturing across key components such as printed circuit boards, capacitors, resistors and display modules will strengthen India’s electronics and advanced manufacturing ecosystem. The continued focus on grid-scale renewable energy projects, alongside rooftop solar adoption under initiatives such as PM SURYA GHAR, will accelerate decentralised energy access while enhancing grid resilience. Overall, the Budget provides much-needed clarity and continuity, supporting India’s 500 GW non-fossil fuel target and enabling companies like ours to scale integrated solar-storage solutions, strengthen last-mile e-mobility infrastructure, and drive sustainable energy access across both urban and rural markets.”

Mr. Bhupinder Singh, Founder, InCred Group

“This Budget has many positive structural elements and reflects a long term growth mind-set. The strong push on infrastructure, domestic manufacturing and the technology ecosystem can meaningfully strengthen India’s industrial and innovation base. At the same time, the sharp increase in STT on futures and options has understandably unsettled markets and could weigh on trading volumes at a delicate moment. Predictability and active participation are vital for deep capital markets, so ongoing engagement between government and market stakeholders will be key.”

Mr. Vineet Mittal, Chairman, Avaada Group

“Budget 2026–27 strikes balance between ambition, growth and discipline. With sustained public capex of ₹12.2 lakh crore, a clear fiscal consolidation path,  and reforms like the Infrastructure Risk Guarantee Fund, it focuses on building long-term productive capacity rather than short-term stimulus. The emphasis on infrastructure, MSME scaling, transport, digital and logistics readiness sends a strong signal that India is investing for durable growth, competitiveness, and investor confidence.”

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.”

Mr. Bhupinder Singh, Founder, InCred Group

“This Budget has many positive structural elements and reflects a long term growth mindset. The strong push on infrastructure, domestic manufacturing and the technology ecosystem can meaningfully strengthen India’s industrial and innovation base. At the same time, the sharp increase in STT on futures and options has understandably unsettled markets and could weigh on trading volumes at a delicate moment. Predictability and active participation are vital for deep capital markets, so ongoing engagement between government and market stakeholders will be key.”

Mr. Ravi Narayanan, MD & CEO, SMFG India Credit

“The Union Budget 2026 presents a clear and constructive roadmap for strengthening India’s financial architecture, with a balanced emphasis on stability, inclusion, and long-term growth. The government’s decision to constitute a High-Level Committee on Banking for Viksit Bharat is a forward-looking step that recognises the evolving and complementary role of NBFCs in deepening credit penetration and supporting India’s development priorities.

For the NBFC sector, the Budget sends a strong signal of policy continuity and confidence. The focus on improving credit transmission, leveraging technology, and enhancing efficiency across the financial system will enable NBFCs to scale responsibly while continuing to serve underserved and emerging customer segments. The proposed SME Growth Fund is a timely and meaningful intervention, as it will provide patient capital to small and medium enterprises, fostering innovation, productivity, and sustainable job creation.

Equally encouraging is the intent to undertake a comprehensive review of the FEMA framework for non-debt investments. Simpler, more predictable regulations will improve ease of doing business and facilitate access to long-term global capital—an important enabler for NBFCs to support India’s investment-led growth.

Overall, Budget 2026 reinforces a clear vision for a resilient, well-regulated, and inclusive NBFC ecosystem—one that empowers individuals and enterprises with affordable, relevant financial solutions and plays a critical role in advancing India’s journey towards a Viksit Bharat.”

Shreehas Tambe, CEO & MD, Biocon Biologics

“Biopharma SHAKTI with an outlay of ₹10,000 crore is a well-timed and much-needed step, especially when seen alongside the earlier ₹1 lakh crore commitment announced in November 2025, to research, development and innovation. Together, these measures clearly signal the government’s intent to strengthen Bharat’s biopharmaceutical capabilities and catalyse innovation-led growth. The acknowledgement that non-communicable diseases such as cancer, diabetes and autoimmune disorders are now the dominant healthcare challenge is important, as is the focus on complex therapies of biologics through affordable biosimilars as the new standards of care. Encouraging investment in advanced manufacturing, building global scale, and strengthening regulatory capacity through a dedicated scientific review cadre at CDSCO are all critical to meeting global benchmarks. Equally transformative is the emphasis on academic research, skill development, training and clinical infrastructure through new and upgraded NIPERs and accredited trial sites. These steps reinforce Atmanirbhar Bharat while positioning India as a credible global biopharma hub delivering affordable, high-quality complex therapies at scale. At Biocon we are fully ready to support India’s march to be a leader in biopharma.”

Mr. Ashok Nair, Managing Director, RPG Life Sciences

“Biopharma Shakti is a strong and timely signal that India wants to scale up capabilities in biosimilars and compete more confidently in global markets. The Budget proposes an outlay of ₹10,000 crore over the next five years to build the ecosystem for domestic production of biologics and biosimilars.

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+ accredited clinical trial sites, and strengthening the CDSCO to meet global standards and improve approval timelines.

For RPG Life Sciences, the value will come from improved ecosystem readiness, especially clinical‑trial output and predictable regulatory timelines. These enablers can potentially accelerate market entry and expand patient access, subject to effective and timely implementation.”

Mr. Niranjan Kirloskar, Managing Director,  Fleetguard Filters Private Limited

“Union Budget 2026 clearly signals the government’s intent to anchor growth in infrastructure and manufacturing. With capital expenditure set at ₹12.2 lakh crore for FY 2026–27, industries can expect a strong multiplier effect across capital goods, construction equipment, mobility, and industrial operations. For sectors reliant on heavy machinery, engines, and fleet movement, this translates into higher equipment utilisation and sustained demand for reliable, high-performance filtration and operational solutions. Equally significant is the focus on Tier II and Tier III cities as emerging industrial and logistics hubs. As manufacturing clusters expand beyond metros and supply chains become more efficient, industrial activity will deepen across regions, supporting economic growth while raising standards in operational efficiency, emissions control, and equipment longevity — areas where advanced filtration technology plays a critical role.

From an ease-of-doing-business perspective, procedural tax relief and clearer policy frameworks will reduce compliance friction and accelerate project execution for manufacturers and infrastructure players. The Budget’s emphasis on developing rare earth and critical mineral mining corridors in states like Odisha, Kerala, Andhra Pradesh, and Tamil Nadu is timely, strengthening domestic supply chains and supporting mining, power, and heavy engineering sectors that depend on robust, high-performance filtration systems. Overall, this Budget moves beyond short-term stimulus to focus on building long-term capacity. By strengthening infrastructure, securing supply chains, and promoting regional growth, it sets the stage for industries to invest in efficiency, reliability, and sustainability, aligning with India’s vision of a resilient, self-reliant, and future-ready economy under the Viksit Bharat agenda.”

By:- Garima Bharadwaj, Co-founder & CTO, Enlite Research

Tech‑stack exemptions for data centres are a pragmatic move, reducing capex by 10–15 % and helping India reach ~4.5 GW capacity sooner, while expanding green‑certified facilities. Broader Budget 2026 measures — including a record ₹12.2 lakh crore infrastructure capex, a ₹40,000 crore electronics components scheme, and a ₹20,000 crore carbon capture push — will accelerate Make‑in‑India manufacturing, smart energy systems, and industrial decarbonisation. Across urban assets, real-time data, automation, and analytics will turn sustainability intent into measurable operational and climate impact.

Mr. Ranganath Kuppur, CEO, Globus Fashion.

“The Union Budget 2026–27 reinforces India’s growth story with continued emphasis on consumption, GST rationalisation and structural reforms that support trade and enterprise. For organised fashion retail, this creates a stronger runway — one where simpler tax structures, improved logistics and clearer frameworks for digital commerce can unlock faster responsiveness to consumer trends. At Globus Fashion, our work is rooted in making aspirational, quality fashion accessible across India and beyond. With the right policy momentum behind retail and export-oriented commerce, Indian brands can not only serve evolving domestic consumers more effectively but also scale confidently into global markets.”