Archives February 2026

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.”

Mr. Neeraj Akhoury Managing Director, Shree Cement Limited

“The Union Budget’s strong focus on infrastructure and balanced regional growth is encouraging. The proposed Infrastructure Risk Guarantee Fund will boost lender confidence and help attract private investment. Increased allocations for high speed rail, Tier II and Tier III cities, and temple towns will drive sustained demand across the construction sector. The support for CCUS is timely and reinforces the importance of clean technologies in decarbonising hard to abate industries.”

Anand, Feb 02: Dr. Meenesh Shah, Chairman, National Dairy Development Board (NDDB) hailed the Union Budget 2026-27 as truly transformative, noting its initiatives to enhance farmers’ incomes, promote entrepreneurship in animal husbandry and dairying and strengthen cooperatives – key steps toward realising the vision of Viksit Bharat 2047 and fostering inclusive economic growth.

Recognized as the growth engine of agriculture and allied activities providing livelihoods to rural households, the animal husbandry sector has received a significant boost in the Union Budget 2026–27, with an allocation of Rs 6,153.46 crore – up 16% from last year. The Budget also announced a Rs 500 crore Integrated Scheme for Entrepreneurship Development to expand employment through credit-linked subsidies, modernise livestock enterprises, build integrated dairy and poultry value chains and promote Livestock Farmer Producer Organisations, thereby fostering entrepreneurship and rural development.

 The Budget will add 20,000 veterinary professionals and through a loan-linked subsidy scheme, support new veterinary and private colleges, hospitals, labs, and breeding facilities. Targeting India’s 53 crore livestock, including 30 crore dairy animals, the initiative also encourages global collaborations to drive innovation. Dr Meenesh Shah hailed it as a milestone for the sector.

 In addition to the existing provision allowing full deduction of profits and gains for primary cooperative societies engaged in supplying milk, oilseeds, fruits, or vegetables raised by their members, this benefit has now been extended to cattle feed. With primary cooperatives selling about 102 lakh metric tonnes of cattle feed annually, this move will significantly reduce their tax burden, ensuring better returns for farmer members. India’s dairy cooperatives already return over 75% of the consumer rupee to producers, and this initiative will further enhance pay-outs, putting more money directly into farmers’ hands.

Chairman, NDDB welcomed the Budget move allowing inter-cooperative society dividend income as deduction under the new tax regime to the extent it is further distributed to its members, fostering investments in multistate cooperatives under Sahkar se Samriddhi. A three-year exemption on dividend income for notified national cooperative federations on their investments made in companies up to 31.01.2026, if further distributed to its members cooperatives, will further strengthen profitability and enable higher pay-outs to member institutions.

The Centralized Bio-CNG Model turns dairy waste into clean transport fuel and organic fertilizer, advancing circular economy goals. As announced in the Union Budget, the entire value of biogas while calculating the Central Excise duty payable on biogas blended CNG to be excluded which will be a major boost for scaling large Bio-CNG models nationwide, strengthening sustainability and promoting natural farming through organic fertilizer by-products.

In a nutshell, Chairman, NDDB described the Union Budget 2026–27 as one that ticks all the right boxes – providing impetus to agriculture, dairy and allied sectors, improving capital efficiency, reducing tax distortions across cooperatives and thereby boosting farmers’ incomes and employment opportunities.

Mr. Ajit Chauhan, Chairman, Amity University Online

“The rise in education spending to ₹1,39,289 crore in Budget 2026–27, an 8.27% increase over last year, signals a strong national resolve to build future-ready human capital through sustained investment in learning.

The creation of the high-powered Education to Employment and Enterprise Standing Committee is a timely step, especially with its focus on the services sector as a growth engine for Viksit Bharat. By assessing how emerging technologies like AI are reshaping jobs and skill requirements, it can keep curricula and career pathways aligned with real market demand and help institutions respond faster. The priority now is outcome-led implementation and wider, high-quality online participation so future-ready skills scale beyond a few campuses.

These proposed measures will help make India’s talent pipeline a global growth engine, powering our country’s next phase of productivity, innovation, and competitiveness.”

“India’s approach to AI is becoming more grounded and outcome-focused. By positioning AI and emerging technologies as growth multipliers rather than a prestige race, the focus shifts to human-AI collaboration. Further, the proposal to set up a committee to review AI’s impact on the services sector with the ambition of capturing 10% of global services exports by 2047 highlights the scale of opportunity ahead and makes one thing clear: large-scale upskilling is a non-negotiable so the workforce can use AI confidently, ethically, and productively. Regulation will matter, but real value will come from enabling talent to apply AI effectively in everyday work.”

The trade facilitation measures announced in the Union Budget represent a landmark shift in India’s approach to global commerce. By placing systemic trust and digital integration at the core of reforms, the government has laid a strong foundation for a more resilient, agile, and globally competitive export-import ecosystem.

A key highlight is the transition towards a fully digital, trust-based customs framework. The adoption of AI-enabled scanning, faster clearances, and more predictable regulatory rulings goes beyond improving efficiency—it enhances transparency, reduces uncertainty, and gives businesses the confidence needed for long-term investment and operational planning.

Several measures directly address long-standing challenges in cross-border trade. The removal of value caps on courier exports and the simplification of duty structures significantly ease compliance for MSMEs, e-commerce exporters, and individuals, who have long faced confusion around varied duty rates. These reforms will help expand India’s global trade footprint by removing procedural and value-related constraints.

The introduction of seamless export returns and “Return-to-Origin” processes further reduces risk, cost, and congestion in international trade. This improves shipper confidence, accelerates resolution in non-clearance scenarios, and creates a more business-friendly trading environment.

Equally impactful is the integration of SEZ clearances through ECCS, ICEGATE, and ICES, which strengthens India’s digital trade infrastructure and enables Special Economic Zones to operate in a more frictionless and globally competitive manner. This also sets the stage for streamlined clearances across EOU, IGCRD, MOOWR, and similar schemes via courier channels.

Finally, the strengthening of the Authorized Economic Operator (AEO) framework through a 30-day deferred duty payment option is a significant boost to working capital efficiency and provides a strong incentive for higher compliance standards.

Taken together, these measures signal a decisive move towards a modern, trust-based, and technology-driven trade ecosystem—reinforcing India’s ambition to emerge as a preferred global trade and logistics hub.