Union Budget 2026: What Corporate Leaders Across Industries Expect
As the Union Budget 2026 approaches, corporate leaders from diverse sectors are voicing their expectations and recommendations to the government. This budget is anticipated to play a pivotal role in shaping India's economic trajectory, with a focus on sustaining growth, enhancing competitiveness, and addressing sector-specific challenges. The collective insights from industry captains highlight a strong desire for policies that foster innovation, streamline regulations, and boost domestic manufacturing.
Manufacturing Sector Demands
Leaders in the manufacturing industry are advocating for significant measures to strengthen the 'Make in India' initiative. They emphasize the need for reduced corporate tax rates and enhanced production-linked incentive (PLI) schemes to attract more investments. Additionally, there is a call for improved infrastructure, including better logistics and supply chain networks, to reduce operational costs and increase efficiency. The sector also seeks clarity on environmental regulations to ensure sustainable growth without compromising on compliance.
Technology and Innovation Focus
In the technology sector, executives are pushing for policies that support digital transformation and innovation. Key expectations include increased funding for research and development (R&D) and tax incentives for startups and tech companies. There is also a demand for streamlined data protection laws and cybersecurity frameworks to build trust and encourage digital adoption. Corporate leaders believe that fostering a robust tech ecosystem will be crucial for India's global competitiveness in the coming years.
Services and Export-Oriented Industries
For services and export-oriented industries, the budget is seen as an opportunity to boost international trade. Leaders are calling for simplified export procedures and reduced tariffs on essential imports to enhance competitiveness. There is also a focus on skill development programs to address the talent gap and improve service quality. The hospitality and tourism sectors, in particular, are seeking incentives to recover from recent challenges and attract more foreign visitors.
Infrastructure and Sustainability Goals
Across all industries, there is a consensus on the importance of infrastructure development and sustainability. Corporate leaders expect the budget to allocate substantial funds for green energy projects and sustainable urban planning. They also recommend public-private partnerships (PPPs) to accelerate infrastructure projects, such as highways, ports, and smart cities. Emphasizing environmental, social, and governance (ESG) criteria, they urge the government to introduce policies that promote corporate responsibility and long-term resilience.
Overall, the expectations for Union Budget 2026 reflect a balanced approach, aiming to drive economic growth while addressing social and environmental concerns. As the government prepares the budget, these insights from corporate leaders will likely influence key decisions, shaping India's economic landscape for the future.
