The Federation of Jharkhand Chambers of Commerce and Industries (FJCCI) and Micro, Small, and Medium Enterprises (MSMEs) operating across Jharkhand have expressed a generally positive reception to the proposals outlined in the Union Budget for the fiscal year 2026-27, which focus on developing the industrial and manufacturing sectors. However, stakeholders have simultaneously voiced a critical concern, stating that a relatively poorer state like Jharkhand should have been granted special consideration to significantly boost its economic growth trajectory.
Industry Leaders Applaud Budget's Strategic Focus
Sunil Tiwary, the Plant Head of Tata Motors in Jamshedpur and Chairman of the CII State Council, remarked, "The budget addresses several long-standing concerns of MSMEs. The announced 10–12% increase in capital expenditure is a welcome move that will undoubtedly benefit broader industrial development and infrastructure creation."
Echoing this sentiment, S K Behera, Vice-Chairman of RSB Global, described the budget as a transformative blueprint. "It shifts India's manufacturing narrative from mere participation to potential global dominance," he said. "For core sectors like automotive and engineering, the budget strategically addresses the three essential pillars of modern manufacturing: enhanced connectivity, advanced technology adoption, and improved liquidity. MSMEs located in industrial hubs will particularly benefit from initiatives like the SME Growth Fund and the doubling of the Electronic Component Manufacturing Scheme (ECMS) outlay to Rs 40,000 crore."
Specific Allocations and Local Impact
The announcement of a Rs 10,000-crore fund dedicated to small and medium enterprises was specifically welcomed. Randhir Kumar Sharma, President of the Jharkhand Small Industries Association (JSIA), clarified its purpose: "This fund is designed to support high-potential firms and, crucially, those that have been struggling due to persistent financial stress or reliance on outdated technology. It's a targeted intervention."
Local industry associations highlighted the expected regional benefits. Inder Agarwal, President of the Adityapur Small Industries Association (ASIA), stated that the announced measures would "create new employment opportunities and substantially strengthen the industrial ecosystem in key regions like Adityapur." Manav Kedia, President of the Singhbhum Chamber of Commerce and Industry (SCCI), added, "The budget's integrated focus on manufacturing, entrepreneurship, and social inclusion will have a positive ripple effect, benefiting industrial clusters across the entire state of Jharkhand."
A Call for Greater State-Specific Support
Despite the overall approval, a note of disappointment was sounded regarding the lack of state-specific provisions. Aditya Malhotra, President of FJCCI, pointed out a perceived gap. "Prime Minister Narendra Modi consistently emphasizes that eastern states should act as a growth engine to achieve the vision of a 'Viksit Bharat' (Developed India). Jharkhand is poised to play a leading role in this mission. However, there was a specific demand for establishing a 'mahua' board in Jharkhand, similar to the 'makhana' board in Bihar, which has not been addressed. Furthermore, several districts within our state still lack railway connectivity, which is a fundamental hurdle for industrial logistics and growth."
Entrepreneur Bharat Vasani summarized the broader industry perspective on the budget's forward-looking elements: "Key allocations for container manufacturing, schemes like Champion SME, and the enhanced allocation for the Mobile Production Linked Incentive (PLI) scheme are all integral parts of a concerted endeavour to propel the Indian economy to the next level in the coming years."
