Ricky Vasandani, CEO & Co- founder, Solitario
“India has a once-in-a-generation opportunity to lead the global shift towards ethical, lab-grown diamonds. The government’s decision to recognise lab-grown diamonds as a sunrise sector under Make in India has already delivered strong momentum, and the removal of customs duty on diamond seeds has improved industry margins by 5–8%, allowing faster domestic manufacturing and innovation.
In the upcoming Budget, continued policy stability, expanded R&D incentives and easier access to financing for manufacturers will be critical to helping India become the world’s largest hub for sustainable diamond production. With indigenous technology — including initiatives such as the IIT Madras seed programme — India could reduce production costs by 20–30% over the next two years, making lab-grown diamonds more affordable globally while strengthening exports and job creation.
Ethical luxury is no longer niche. With the right Budget support, India can define the future of the global diamond industry — not just as a volume leader, but as the world’s most trusted source of sustainable, high-quality diamonds.”
Ganesh Sonawane, Co-founder and CEO of Frido-
“The 2025 Union Budget supported consumer sentiment by reinforcing purchasing power. With ‘GST 2.0’ moving toward rate rationalisation and simpler slabs, the market received a clearer, more predictable tax environment. That combination helped brands pass on efficiencies more confidently, making everyday spending feel lighter and driving steadier consumption.
To keep this momentum going, the emphasis now should be on creating an environment where Indian D2C brands can build and scale from within the country with confidence. Consistent tax policies, simpler GST compliance, and better access to working capital, along with extending PLI incentives to a wider set of consumer and wellness categories, can encourage brands to invest deeper in local manufacturing, product quality, and supply chains. For ergonomics and wellness brands like ours, this stability allows a sharper focus on thoughtful design and long-term consumer value, while strengthening India’s manufacturing ecosystem and keeping high-quality products accessible for everyday consumers.”
Mr Ashok Mehta, Chairman of Suchi Semicon, for his expectations from the upcoming Budget 2026:
"India's semiconductor push has moved from intent to tangible momentum, with multiple projects approved under the India Semiconductor Mission and significant capital already committed. Budget 2026 is therefore a critical inflexion point where the focus must decisively shift from announcements to execution. Continuity of PLI, DLI and allied schemes, faster and more predictable incentive disbursements, and long-term policy visibility are essential to unlock scale across manufacturing, advanced packaging and OSAT.
Semiconductor packaging and testing are no longer supporting functions; they are foundational to building cost competitiveness, reliability and supply-chain resilience. Alongside fiscal support, sustained investments in R&D, skilled manpower, and enabling infrastructure such as power and water will be crucial. Ultimately, the success of India's semiconductor mission will not be measured by approvals announced, but by chips shipped, lead times reduced, and domestic design translated into scalable, globally competitive production."
Mr Nikul Shah, Co-Founder and CEO of IndieSemiC Pvt Ltd, for his expectations from the upcoming Budget 2026:
"As India approaches Union Budget 2026, fabless semiconductor startups are looking for policy support that strengthens the design and IP layer of the ecosystem, not just manufacturing. Dedicated long-term funding and grant mechanisms are essential to accelerate indigenous chip design, particularly in areas such as RF, power, and mixed-signal technologies. Extending and simplifying the Design Linked Incentive scheme with faster disbursements and wider IP coverage would help reduce execution delays and early-stage uncertainty.
Cost competitiveness remains a major challenge for design-led startups. Targeted tax incentives and GST relief on MPW shuttles, packaging and prototyping can significantly lower entry barriers. Equally important is the creation of a shared national infrastructure for validation, packaging, and testing that startups can access at subsidised rates. Finally, funded industry–academia–startup pilot programs can help build a skilled semiconductor talent pipeline while accelerating commercialisation and strengthening India's global competitiveness."
According to Ashish Nasa, MD & CEO, Universal Trustees, as India advances towards a developed economy, fiscal consolidation and revenue mobilization are likely to remain key policy priorities in the Union Budget. While global discourse often revisits inheritance and estate taxation as tools to address wealth concentration, India must tread carefully. Any such measures, if introduced, could disrupt family-owned enterprises, long-term capital formation, and entrepreneurial continuity.
Encouragingly, public remarks by political leadership suggest that inheritance or estate taxation may not be an immediate policy priority. The policy stability helps business fraternity to focus on immediate business growth which contributes to the economic development.
We believe that continuity in the policy enables smooth business succession and better support India's long-term growth objectives.
Mr. Rajiv Kumar, Vice Chairman, DS Group said-
“We extend our sincere gratitude to the Government for the strategic tax reliefs provided to the FMCG sector; these measures have been instrumental in driving a visible recovery and fuelling a robust resurgence in consumer demand across the nation. It will be helpful if the upcoming Union Budget continues to focus on a consumption-driven framework that strengthens affordability and market access. We request for targeted manufacturing support to bolster the "Make in India" mission. This can be achieved by facilitating measures such as capital subsidies and land at concessional rates to bolster rural production and consumption, alongside providing critical tax relief through Input Tax Credits. To maximize the growth of the FMCG sector, we request the government to implement a comprehensive support framework that helps Indian companies going global to successfully navigate the complex global environment and set up robust presence across the globe.”
Mr Dhiraj Agrawal, CBO of Mufin Green Finance, for his expectations from the upcoming Budget 2026:
"EV financing in India is scaling up, but NBFCs face structural challenges: high cost of capital, residual value risk, and limited long-tenure funding. For the Union Budget 2026 to accelerate EV adoption, targeted measures are essential. We propose priority-sector lending (PSL) classification for EV loans and a partial credit guarantee scheme for EV-focused NBFCs to lower borrowing costs and mitigate default risk. Policy clarity on battery ownership, reuse, and resale is also critical. The implementation of a national Battery Passport framework (like 'Battery Pack Aadhaar') will provide transparent data on battery health, improving asset recoveries and reducing risk premiums for lenders. Future growth hinges on enabling sustainable, risk-aligned financing frameworks, moving beyond subsidies."
Mr. Kunal Vasudeva, Managing Director and Co-founder of Indian School of Hospitality-
History offers no example of a nation achieving sustained prosperity without deep investment in education. Developed economies progressed by building functional capability at scale, not by improving literacy metrics alone. India's real challenge lies in execution, not policy intent. Budget 2026 must place education in the everyday vocabulary of the country and give it a seat at the highest decision making table. This requires absolute priority over the next two decades, starting with a fundamental reset of primary education, particularly in rural India where outcomes remain uneven. One practical lever is the development of indigenous AI tools that strengthen teachers' everyday effectiveness and enable rural classrooms to meet the same functional standards as private schools. If India is serious about Viksit Bharat, this is the only credible path forward.
Mr. Rajasekhar Papolu, Managing Director, Brihaspathi Technologies Limited
Quote: "As India advances toward becoming a global digital leader, the upcoming Union Budget is expected to play a decisive role in shaping the country's technology and AI trajectory. Beyond digital services, the focus must now shift to deep-tech innovation, AI-led transformation, and indigenous technology development. Enhanced incentives for AI research, innovation funding, and industry–academia collaboration will be crucial to accelerate adoption across sectors such as healthcare, urban infrastructure, manufacturing, and public safety.
Equally important is strengthening domestic electronics and semiconductor ecosystems by rationalising duties on critical components while encouraging local manufacturing. Skilling and reskilling initiatives in AI, data science, and cybersecurity will be key to building a future-ready workforce."
Mr Sudhir Kunder, CBO of DE-CIX, India
Quote: "As digital consumption accelerates, interconnection must be recognised as a strategic pillar of national digital infrastructure, powering innovation across AI, cloud, fintech, and India's rapidly expanding data centre ecosystem
As India moves decisively toward becoming a global digital hub, Budget 2026 must prioritise policies that strengthen the foundational layers of digital infrastructure, especially interconnection and data exchange ecosystems. We expect targeted incentives for neutral Interconnection Platform, Edge Data Centres, and Cloud Platforms that reduce latency, improve resilience, and lower network costs for SMEs, SMBs, Enterprises and ISPs alike.
Policy clarity regarding data localisation, cross-border data flows, and power and right-of-way reforms will be crucial to accelerating investments in next-generation digital infrastructure. Additionally, a Public–Private Partnership (PPP) approach to expanding interconnection in Tier 2 and Tier 3 cities can accelerate digital inclusion. With the industry growing at 25% CAGR and projected to reach 32% CAGR by FY26, neutral interconnection platforms will play a crucial role in accelerating this growth.
A future-ready Budget should recognise interconnection as a strategic enabler of AI, cloud, fintech, smart cities, and digital public infrastructure, ensuring India remains competitive, scalable, and digitally sovereign in the global economy."
Dr. Ramakrishnan Raman, Vice Chancellor at Symbiosis International (Deemed University).
Quote: "Last year's Union Budget reaffirmed the government's commitment to education through targeted investments in skilling, digital learning, and research-led growth aligned with the National Education Policy. As we approach this year's Budget, the expectation is a deeper push—one that strengthens higher education through sustained funding for research universities, faculty excellence, and industry-linked innovation. Greater fiscal support for emerging technologies, global collaborations, and expansion of quality education into Tier-2 and Tier-3 cities will be crucial. A continuity-driven yet bold Budget can accelerate India's journey towards becoming a global knowledge and talent hub."
"As we head into the FY26 Budget, the conversation around data centre infrastructure has clearly shifted from expansion to strategic enablement. What enterprises are looking for today is not just more capacity, but smarter, jurisdiction-aware infrastructure that aligns technology investments with capital discipline and risk management.
We are seeing CIOs and CFOs co-owning technology planning far more closely, evaluating cloud and data centre decisions through the lens of ROI, resilience, and long-term business continuity. Hybrid cloud is no longer a debate; it is a deliberate design choice, driven by compliance requirements, latency sensitivities, cost optimisation, and data sovereignty considerations.
From a policy perspective, the Budget has an opportunity to accelerate this maturity by supporting sovereign-grade data centre infrastructure through incentives for energy efficiency, faster approvals for high-density facilities, and frameworks that strengthen data localisation and regulatory clarity. Equally important is enabling resilient digital infrastructure that can support AI at scale, because AI readiness is fundamentally a data and platform problem, not an algorithmic one.
In FY26, investments that establish strong sovereign architecture, enhance uptime, security, and operational efficiency will be prioritised as core business enablers. The Budget can play a catalytic role by recognising data centres as strategic national infrastructure underpinning India's digital and AI-led growth." - A.S. Rajgopal, MD & CEO of NxtGen Cloud Technologies.
"With over 65% of India's population under 35, the upcoming Union Budget is a pivotal moment for the country's youth. It presents a critical opportunity to allocate dedicated funds and provide incentives that support early-stage funding, seed capital access, and enable start-ups for young entrepreneurs. We expect a long-term vision of positioning India as a global hub for young talent, where these dedicated allocations will help reduce entry barriers and give a boost to youth-led innovation.
Being one of the youngest nations in the world, there is immense potential. But this potential needs preparation. Most fresh graduates in India face the same challenge – a degree in hand but limited skills in the real world. Supporting structured, paid internships and industry-academia collaboration can significantly ease young Indian's transition from education to employment. This is essential to leverage India's demographic dividend for economic growth.
Another area that needs consideration is affordable internet and digital infrastructure, particularly in Tier 2 and Tier 3 cities. This will ensure equal access to opportunities, especially in the creator economy. Lastly, we also expect a stronger focus on Gen-Z-ready skills across digital, creative, communication, AI, and other new-age tech to build employability that sustains in the long run."
Abhay Sinha, Director General, SEPC-Services Export Promotion Council - Government & Policy Sector
"India's export landscape is entering a new phase of growth; our services exports are now growing at 12-13% annually and are on track to overtake merchandise exports within the next 18-24 months if current trends persist. The path taken is indeed remarkable, not just in showcasing the robustness of our services sector but also in highlighting the necessity for support to maintain and accelerate this positive trend. Ahead of the Union Budget, our priority is to remove the existing tax distortions that currently make Indian services less competitive in the international market. We are proposing a dedicated duty remission framework for services to equalize the competition and support sectors with large employment potential, like tourism, logistics, education, and AVGC (audio-visual, media, and entertainment). If the government deals with the structural tax barriers in the upcoming budget, it will be possible to realise India has the full potential to scale its service exports and compete more effectively on the global stage."
Navin Aswani, Aswani Industries Pvt. Ltd-
"As India approaches the Union Budget 2026, the manufacturing and infrastructure sectors are looking for policy continuity alongside structural reforms that enable scale, efficiency, and long-term competitiveness. For manufacturers, streamlining regulatory frameworks, reducing compliance burdens, and introducing unified digital platforms for licensing, taxation, and reporting will be critical to improving ease of doing business and attracting sustained domestic and foreign investment.
Infrastructure development remains equally vital to manufacturing growth. Continued investments in logistics, transportation networks, industrial corridors, ports, and reliable power infrastructure can significantly reduce production and distribution costs, making Indian manufacturing more competitive globally. Stronger alignment between infrastructure creation and manufacturing needs will help ensure faster execution and better asset performance. With Industry 4.0 reshaping manufacturing, Budget 2026 also presents an opportunity to accelerate digital transformation. Incentives for adopting advanced technologies such as automation, data-driven processes, and smart manufacturing systems, along with support for R&D and innovation hubs, can enhance productivity and quality outcomes. A forward-looking policy framework that encourages high-performance, locally manufactured solutions will strengthen infrastructure durability, reduce lifecycle costs, and support India's self-reliant initiative."
As the Union Budget 2026–27 approaches, India's electronics manufacturing sector is entering a phase where the emphasis is shifting from capacity creation to capability building. The scale achieved through PLI-led manufacturing has strengthened India's presence in global supply chains, but the next phase of growth will depend on deeper design, engineering, and high-reliability manufacturing capabilities.
Industry demand is increasingly coming from future-facing applications where electronics must be designed for reliability, safety, and long-term performance, rather than volume alone. Continued policy stability, along with calibrated support for critical sub-components, precision tooling, and advanced manufacturing, will be essential to reduce structural import dependence and enhance competitiveness.
Over the medium term, sustained investments in skilling, R&D enablement, and access to long-term capital—particularly for MSMEs—will be key to helping Indian manufacturers move up the value chain and integrate more deeply into next-generation global electronics ecosystems. Together, these factors support supply-chain resilience and India's evolution towards a more integrated electronics manufacturing and design ecosystem."
— Mukesh Vasani, Chairman & Managing Director, Aimtron Electronics.
"As we approach the Union Budget 2026, India's creative and digital economy stands at a critical inflection point. Creative industries already support close to 8% of national employment, powered by a rapidly expanding digital ecosystem of nearly 500 million social media users and a young, globally connected creator base. Initiatives such as WAVES, which has drawn participation from over 90 countries, and the government's allocation of over ₹390 crore for the Indian Institute of Creative Technologies clearly signal India's ambition to emerge as a global creative hub.
The expectation from this Budget is a decisive shift from foundational intent to long-term execution, backed by clear fiscal support, sustained institutional investment and policy continuity. Targeted measures that incentivise original IP creation, innovation and export-oriented growth across creative and technology-led sectors, including video gaming and esports, along with rationalised tax structures for digital and IP-driven businesses, will be critical. Recent steps such as the Promotion and Regulation of Online Gaming Act, 2025 indicate improving policy clarity for this ecosystem.
Globally, the creative economy is valued at over USD 2 trillion, yet India remains under-represented in terms of IP ownership despite being one of the largest consumers of digital content. The opportunity now is to move from service-led participation to ownership of globally relevant intellectual property, spanning original video games, esports content and interactive entertainment developed in India for global markets.
Equally important is enabling the creator ecosystem at scale. Strengthening digital infrastructure through initiatives like BharatNet, improving access to production facilities and capital, and simplifying tax frameworks can unlock creative potential across regions. With creative exports growing at double-digit rates and creative roles commanding higher economic value, a focused policy push—covering R&D support for emerging technologies such as Generative AI and immersive media, IP-led incentives and deeper public–private partnerships—can attract long-term global capital, create high-quality jobs for India's youth, and position India not just as a nation of creative talent, but as a global owner of creative IP and next-generation digital innovation."
- Mr. Rajan Navani, Chairman, JetSynthesys | Chairman, CII India@100 Council | Co-Chairman, CII National Committee on Media & Entertainment | Board Member, Indian Institute of Creative Technology.
Pre-Budget Quote - Raahil Reddy, Director of Residential Projects, Fortune Primero
From a next-gen developer perspective, the sector today doesn't need short-term incentives, but rather progressive policies with a futuristic outlook.
What I would like to see in the upcoming Budget is a stronger push towards sustainable urban development - faster approvals for green buildings, incentives for energy-efficient design, water-positive planning, and the adoption of new-age construction technologies. These are not add-ons anymore; they are core expectations for today's Gen Z and millennial homebuyers.
Almost as important is infrastructure-driven development. A well-planned focus on mobility, last-mile connectivity, and infrastructure translates to a situation where developers can deliver communities, not just real estate, to enhance the lifestyle of people.
Having access to structured, long-term capital, as well as stable regulatory frameworks, is essential for encouraging responsible development over and above speculatory growth, If the industry is to grow and develop, policies that favour and reward transparency, innovation, and sustainability will be essential.
If this Budget solidifies long-term planning with business viability, environmental considerations, and trust from our customers, it will encourage us developers to develop future-proof communities in India for its upcoming urbanization.
Spokesperson - CA Baratam Satyanarayana, CFO and Director, Bondada Group
"As India prepares for Budget 2026, the infrastructure and clean-energy ecosystem is at an inflection point. For EPC players operating across telecom, renewable energy, and emerging storage solutions, the focus now must shift from capacity creation to execution certainty. We are looking for a budget that strengthens grid infrastructure, accelerates utility-scale renewable deployment, and provides clear policy support for battery energy storage systems, which are critical to balancing intermittent power and improving project bankability. On the telecom side, faster rollout of 5G densification and fiberisation will be key to supporting India's digital economy. A stable policy framework, faster approvals, and improved access to long-term financing will enable EPC companies to scale efficiently, deliver projects on time, and support the country's twin goals of energy transition and digital connectivity".
