The Union Budget 2026 industry reactions reflect broad support from industry leaders across digital platforms, healthcare, manufacturing, mobility, finance, real estate, tourism and insurance, with stakeholders highlighting continuity in policy direction, higher public capital expenditure, fiscal discipline and a strong focus on technology-led and decentralised growth.
Reacting to the Budget, the Internet and Mobile Association of India (IAMAI) said it reinforces the government’s long-term emphasis on digital and economic infrastructure.
Dr Subho Ray, President, IAMAI, said, “The Union Budget 2026–27 signals continuity in the government’s approach to building digital and economic infrastructure as foundational public goods.
The sustained focus on technology-led growth, healthcare innovation, tourism infrastructure, e-commerce exports and emerging technologies like AI reflects a long-term vision.” He added that some digital ecosystems, particularly payments, require “urgent structural corrections to ensure sustainability without prolonged dependence on government support.”
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Union Budget 2026 Industry Reactions Underscore HealthTech and Biopharma focus
Highlighting the healthcare and life sciences thrust, Dr Purav Gandhi, Co-Chair of the IAMAI HealthTech Committee and CEO of Healthark Insights, said the Budget marks a long-awaited shift toward technology-enabled healthcare.
“The Union Budget 2026–27 reflects a long-awaited pivot toward strengthening India’s healthcare ecosystem through technology-backed interventions,” he said, citing expanded support for HealthTech innovation, integration of public health technologies and the creation of five regional medical hubs.
He noted that continued support under the Biopharma Shakti programme and digital public infrastructure will help healthtech enterprises deliver scalable, outcomes-focused solutions.
Union Budget 2026 Industry Reactions from Finance and Banking
Chandan Churiwal, Chief Executive Officer and Whole-Time Director at Assets Care & Reconstruction Enterprise Ltd (ACRE), described the Budget as “mature and detail-oriented,” noting that it maintains fiscal prudence with the deficit at 4.3% despite global headwinds. He said measures such as a high-level committee to review the banking system and a proposed framework to increase liquidity in corporate bonds are likely to strengthen debt markets.
Echoing the MSME banking impact, Prashanth T S, President and Head – Mid-Corporates & Medium Enterprises Group at Axis Bank, said, “The Budget meaningfully improves the growth runway for MSME banking in India,” highlighting expanded credit guarantees and accelerated adoption of digital receivables financing through TReDS.
Union Budget 2026 Industry Reactions Highlight Infrastructure-led Growth
Several industry leaders welcomed the continued focus on infrastructure. Umesh Uttamchandani, Managing Director, Dev Accelerator Ltd, said the Budget delivers “a decisive blueprint for decentralized economic growth,” pointing to the ₹12.2 lakh crore CapEx allocation, IndiaAI Mission and infrastructure push in Tier-2 and Tier-3 cities as key enablers for GCC expansion and flexible workspaces.
Santosh Iyer, MD & CEO, Mercedes-Benz India, said the strong focus on infrastructure, including an additional ₹1 lakh crore in CapEx, will support India’s evolving mobility ecosystem. “Better highways and improved intercity connectivity have historically driven luxury car demand in India,” he said, adding that fiscal prudence and export focus send a strong signal of macroeconomic stability.
Union Budget 2026 Industry Reactions from IT Services and Cloud Ecosystem
Veena Khandke, SVP and Managing Director, Ensono India, said the Budget positions the IT services sector as a cornerstone of Viksit Bharat. She welcomed the expansion of the Safe Harbour threshold to ₹2,000 crore and the tax holiday for cloud service providers using Indian data centres, calling them “game-changing reforms” that establish tax certainty and position India as a global cloud hub.
Union Budget 2026 Industry Reactions from Manufacturing and EV Sectors
Manufacturing leaders highlighted the increase in public CapEx and supply chain initiatives. Mukund Vasudevan, MD SKF India and President – India, Southeast Asia and Middle East, said the Budget “delivers a clear, confidence-boosting push for India’s industrial growth,” citing investments in freight corridors, logistics upgrades and MSME liquidity support.
Shailesh Chandra, President, SIAM and MD & CEO, Tata Motors Passenger Vehicles Ltd, welcomed the increase in CapEx to ₹12.2 lakh crore and continued customs duty exemptions on lithium-ion battery components, stating that these measures will help build a robust EV ecosystem.
Union Budget 2026 Industry Reactions from Metals and Critical Minerals
Vedanta Chairman Anil Agarwal welcomed the focus on critical minerals and rare earth corridors across multiple states, calling it “very timely in the current global scenario.” He also welcomed flexibility in SEZ norms allowing limited domestic sales.
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Union Budget 2026 Industry Reactions from Real Estate and Urban Development
Real estate leaders highlighted the Budget’s emphasis on Tier-2 and Tier-3 cities. Shekhar Patel, MD & CEO, Ganesh Housing Limited, said the Budget places emerging cities “at the heart of the Viksit Bharat vision,” strengthening long-term fundamentals for planned urbanisation, connectivity and real asset development.
Gaurav Pandey, MD & CEO, Godrej Properties, said the continued focus on infrastructure-led growth and fiscal discipline creates a stable macroeconomic foundation supporting real estate demand over the medium term.
Union Budget 2026 Industry Reactions from Insurance, Tourism and Consumer Sectors
Rakesh Jain, CEO, IndusInd General Insurance, said the Budget creates strong tailwinds for the insurance sector through MSME formalisation, healthcare investments and large-scale infrastructure expansion, which broaden the base of insurable enterprises.
From the tourism sector, Manoj Bhat, MD & CEO, Mahindra Holidays & Resorts India, said the Budget recognises tourism as a lever for balanced economic growth, with emphasis on destination development beyond metros and workforce skilling.
Sudhir Sitapati, MD & CEO, Godrej Consumer Products, welcomed the MAT credit set-off allowance under the new tax regime, noting that it improves cash flows and frees capital for reinvestment.
Overall, Union Budget 2026 industry reactions indicate strong confidence in the government’s focus on infrastructure-led growth, technology adoption, fiscal discipline and inclusive economic development.
