New Delhi, Feb 2 (KNN) All India Association of Industries (AIAI) President Dr. Vijay Kalantri said the Union Budget 2026–27 sends a strong signal of India’s commitment to broad-based, manufacturing-led growth amid global geopolitical uncertainty.
Dr. Kalantri said, “With a strong thrust on agriculture, tourism, data centres, electronics, advanced manufacturing and green energy, this budget aims to comprehensively uplift the entire economy.”
He noted that incentives for domestic manufacturing in advanced and frontier technologies, including biopharma, container manufacturing and construction materials, strengthen India’s self-reliance agenda.
The focus on developing domestic capabilities for rare earth elements was also highlighted as a step towards securing supply chains and reducing exposure to global disruptions.
Dr. Kalantri, highlighted, “The special attention which the budget has given to MSME’s by extending liquidity facilities, specialised fund provision and integration of GeM and TReDS for invoice discounting will position MSME’s as a growth engine for the economy.”
Also noteworthy is the push for new-age sectors such as the creative economy, graphic designing and content creation, which will generate new-generation employment, he said.
Dr. Kalantri welcomed the Budget’s focus on strengthening urban regions as centres of economic growth, particularly through infrastructure financing mechanisms and incentives for municipal bonds to mobilise capital for sustainable urban development.
He also said the proposed changes in taxation norms could help attract foreign direct and portfolio investments, though he cautioned that higher taxation on futures and options trading may impact capital flows.
Export-oriented rationalisation of customs duties for sectors such as fisheries, textiles, renewable energy components and electronics was seen as supportive of value-added exports. Continued simplification of tax laws was expected to improve ease of doing business.
Overall, Dr. Kalantri said, “This forward-looking budget which will help us to grow at 8-9 per cent per annum so as to reach the size of a 30 trillion dollar economy by 2047.”
(KNN Bureau)
