Utkarsh Kawatra, CEO and Co-Founder, myHQ by ANAROCK "The Union Budget this year is unlikely to bring dramatic announcements for commercial real estate, and that is not necessarily a negative. For offices, stability and predictability matter far more than incentives, because companies plan expansions based on confidence in policy and clarity on the economy's direction rather than short-term tax benefits. This Budget is expected to signal continuity, which helps keep the office market moving steadily.
This stability will be reinforced by infrastructure investment, which is quietly shaping where office demand is heading. Improved metros, roads, and urban connectivity are creating new micro-markets along transit corridors, and Tier-2 cities are increasingly becoming first-office destinations rather than fallback options. As companies assess these evolving locations, they are approaching long-term commitments cautiously, expanding in phases and testing teams and markets before signing large leases. This cautious approach is widening the gap between intent and commitment, and it is in this space that flexible and managed offices are increasingly valuable.
Flexible spaces allow businesses to grow in a measured and reversible way. CFOs prefer opex over capex, founders value speed, and HR teams need offices that are ready from day one. The model is particularly suited for global capability centres and startups, which want to start fast, remain flexible, and scale without friction in an environment of global uncertainty and currency volatility. Combined with hybrid work trends, this is driving a more distributed office footprint, with smaller offices across multiple locations instead of a single large headquarters.
Despite strong momentum, over 30% YOY growth and over 10000Cr of overall revenue, the flex office sector continues to operate without a formal definition or regulatory recognition. It is time for the government to acknowledge flexible workspaces as a distinct real estate asset class and essential component of India's real estate ecosystem. Clear definition of flex and the industry with the help of the government can unlock further financial efficiencies, improve ease of doing business, and support startups, MSMEs, and enterprises that increasingly rely on flexible work models.
Overall, commercial real estate remains resilient, but flexible offices are growing faster because they align with how companies actually grow today — testing, scaling, and stabilising without locking themselves into irreversible decisions. Budget 2026 does not push companies to grow faster; it pushes them to grow smarter."
Mr. Rajesh Khosla, CEO, AGI Greenpac said “The government’s continued focus on strengthening domestic manufacturing and improving ease of doing business has created a strong foundation for sectors such as packaging. For glass manufacturers, further rationalisation of duties and calibrated safeguard mechanisms on key raw materials like soda ash can help ensure long-term supply stability and support capacity expansion. Glass and aluminium manufacturing are energy-intensive processes, and targeted incentives for energy efficiency, cleaner fuel adoption and technology upgrades will encourage faster transition while improving cost efficiency across the sector. There is also a significant opportunity to further strengthen India’s circular economy. Glass and aluminium are infinitely recyclable, and fiscal support for organised collection, segregation and recycling infrastructure will help increase recycled content, reduce resource dependence, and enhance global competitiveness. Such measures in the upcoming Union Budget will enable packaging manufacturers to invest with confidence and reinforce India’s position as a reliable hub for sustainable glass and aluminium packaging.”
Mr. Amarjeet Singh Tak, Head of Research Microscopy Solutions, India and Neighboring Markets, ZEISS Group
“We look to the Union Budget to strengthen India’s research and innovation backbone through sustained investments in advanced scientific infrastructure with deeper academia–industry collaboration central to the vision of Viksit Bharat, where excellence, not just scale, defines progress. A strong thrust on “Make in India” and “Make with India”, combining global expertise with local capability, will accelerate precision-led innovation. Such measures are essential for India to emerge as a global leader in deep science, high-end manufacturing, and knowledge-driven growth.”
Aveen Padmaprabha, Business Head of Industrial Quality Solutions at ZEISS Group, India
"The upcoming budget offers a critical opportunity to advance India’s automotive component manufacturing sector, aligning with the 'Make in India' vision and strengthening the country’s position in the global supply chain. Strategic reforms, such as rationalizing GST rates, introducing targeted incentives for EV component production, and expanding support under PLI schemes, can significantly enhance domestic manufacturing capabilities while reducing reliance on imports. Addressing challenges like high import duties and cess credits will be vital to improving cost competitiveness and fostering local sourcing. With the right policy framework, India has the potential to become a global hub for innovative, high-quality automotive components, driving sustainable economic growth and reinforcing its role in the international market."
Pankaj Priya, Deputy Director and Dean Academics, Birla Institute of Management Technology (BIMTECH) Greater Noida, said, “In education, addressing cognitive skill gaps alone is not sufficient, and this responsibility cannot be left solely to State governments when the Centre is driving the national skilling agenda. At the higher education level, there is an urgent need to align curricula with Industry 4.0 and emerging technologies such as Generative AI and machine learning. The National Education Policy 2020 recognises this shift and targets that by 2025, at least 50 per cent of students across school and higher education will be exposed to skill-based learning. While the Economic Survey 2024–25 shows that the number of colleges has increased by 13.8% over the past eight years and the Gross Enrolment Ratio has risen from 23.7% to 28.4%, the next phase of reform must clearly pivot towards quality, deep research capacity, and strong employability outcomes—not just expanding access. This Budget is a critical opportunity to transform India’s education system into a globally competitive engine for innovation and future-ready talent. Our aim is to instill a mindset for innovation and entrepreneurship to derive maximum benefits from government initiatives focused on cutting-edge technologies.”
Dr. P. R. Sodani President, IIHMR University said, The healthcare sector needs a significant boost, requiring investments in talent, digital transformation, and infrastructure. To further reduce out-of-pocket spending, public health spending needs to increase substantially. The government should effectively utilise the increased public health spending to enhance the capability and capacity of human resources, attract talent, and support training and capacity building, thereby improving the management of healthcare services and facilitating the digital transformation of healthcare, research, and development.
Hiren Shah, Managing Director at Jyoti Global Plast says, "The importance of MSMEs is growing at a fast pace in the economy. The industry is infact emerging as a key pillar supporting India's manufacturing renaissance in the defence sector and beyond. In areas such as drone manufacturing and unmanned systems, targeted capex incentives, output-linked support, rationalised taxation and R&D enablement can help MSMEs scale indigenous technologies and accelerate adoption. From a policy standpoint, the upcoming Budget must focus on execution and scale by lowering entry barriers for high-tech MSMEs, speeding up procurement cycles and creating stable demand visibility in defence manufacturing. Strengthening access to financing, encouraging advanced manufacturing investments and deepening domestic value addition will help MSMEs move up the value chain and advance India's self-reliance goals while positioning the country as a global hub for defence and drone technologies."
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