Union Budget 2026 hailed by industry leaders

Kunal Bajaj, the director of Jupiter Group, highlighted that the Budget "sends a strong and reassuring signal to India’s manufacturing sector by moving decisively from intent to execution." He pointed to the continuation of public capital expenditure, targeted tax reforms, and measures such as customs duty rationalisation and deferred duty payment for trusted manufacturers as key factors that directly "improve ease of doing business on the factory floor."

For packaging manufacturers, Bajaj noted that the broader emphasis on high-value manufacturing and the revitalisation of legacy industrial clusters are expected to strengthen domestic capacity and global competitiveness. Furthermore, the push towards technology adoption, including AI-led manufacturing processes, is anticipated to improve productivity, quality, and operational efficiency across the industrial landscape. The commitment to sustaining GDP growth at around 7% while maintaining fiscal discipline provides "the policy stability entrepreneurs value most," reinforcing confidence to invest and align with the Make in India and Viksit Bharat initiatives.

The sentiment of policy continuity and capacity building was echoed by other industry experts. Manoj Verma, the COO, Bikaji Foods International, affirmed that the Budget reinforces a macro-economic framework focused on consumption stability and supply-chain efficiency, which is critical for the packaged foods sector, supporting investments in capacity expansion and distribution reach.

Meanwhile S Sunil Kumar, the country president, Henkel Adhesives Technologies India, welcomed the continued emphasis on infrastructure, reflected in the INR 12.2-lakh crore public capital expenditure, stating it signals a "clear intent to build deeper, more resilient manufacturing capabilities." He also highlighted the budget’s alignment with innovation and sustainability, noting the INR 20,000-crore allocation for carbon capture and utilisation as a move to treat sustainability as an economic enabler.

Mohit Malhotra, the CEO of Dabur India, described the Budget as reflecting "quiet strength and continuity," placing faith in institution-building and resilience over short-term populism. He pointed to the sustained focus on enhancing farmer income and the sharper focus on tier-II and tier-III cities as measures that will broaden India’s economic footprint and drive deeper market penetration for branded consumer products.

Akash Agrawalla, the co-founder of ZOFF Foods, noted the revival of 2,000 industry clusters and the INR10,000-crore MSME Growth Fund as "masterstrokes for the manufacturing ecosystem," which, coupled with the integration of platforms like GeM and TReDS, aims to solve liquidity bottlenecks for small enterprises. Dhiren Jatakia, the head – accounts & finance, Covestro India, similarly welcomed the focus on strengthening domestic manufacturing, particularly in the chemicals sector through initiatives like chemical parks and cluster-based infrastructure, alongside support for sustainability and energy transition.

Collectively, the industry feedback indicates that the Union Budget 2026 is perceived as a balanced, forward-looking blueprint committed to a responsible growth framework anchored in structural reform, capability building, and long-term competitiveness.