New Delhi, Feb 1: The Union Budget 2026–27 presents a strong and credible roadmap to strengthen India’s competitiveness through fiscal discipline, structural reforms and targeted steps to boost private investment, industry said on Sunday.
CII President Rajiv Memani said the Budget reinforces confidence in India’s growth story at a time when global economic conditions remain uncertain and investors are increasingly looking for policy clarity and long-term stability.
“The Budget’s focus on strengthening manufacturing and technological capabilities will help India build domestic strength in sectors that will define global competitiveness in the coming decade,” Memani said.
“Measures such as the SME Growth Fund, expansion of TReDS-based financing and better integration of MSMEs with government procurement platforms are expected to improve access to credit, support formalisation and help small businesses scale sustainably,” Memani added.
Echoing similar sentiments, industry leaders from the Essar Group, said the government has sent a strong and positive signal at a time when the global economy is facing geopolitical tensions and shifting trade dynamics.
Dhanpat Nahata, Managing Partner at Essar Capital, said the Budget delivers strength exactly where India needs it most.
He noted that measures to deepen corporate bond markets, attract long-term global capital and initiate banking-sector reforms will reinforce India’s financial foundations.
Srinivasan Vaidyanathan, Operating Partner at Essar, said the Budget reinforces India’s steady and reform-driven economic path at a time of global fragmentation and supply-chain realignment.
He highlighted the increase in public capital expenditure to Rs 12.2 lakh crore and the focus on dedicated freight corridors, waterways and logistics infrastructure, saying these initiatives will help speed up execution across logistics and energy corridors and support sectors driving India’s growth over the next decade.
Ashish Rajgarhia, Executive Director at Essar Ports, said the Budget clearly shows that infrastructure and trade logistics remain central to India’s growth strategy.
He said expanding Dedicated Freight Corridors, operationalising new National Waterways and promoting coastal cargo will strengthen the maritime sector as global supply chains are being reshaped.
Rajgarhia also welcomed the focus on inland waterways connectivity, skill development and ship repair infrastructure in cities like Patna and Varanasi, saying these steps will create jobs, reduce congestion and emissions, and help India move towards doubling the share of inland waterways and coastal shipping by 2047.
–IANS