As India progresses toward its ambitious Viksit Bharat vision, the forthcoming Union Budget for the fiscal year 2026-27 is emerging as a crucial juncture to speed up economic transformation. Industry leaders from the startup and technology sectors are voicing their expectations for strategic measures that could fortify domestic manufacturing, spur innovation, and cultivate a more robust industrial ecosystem.
Voices from the Industry: Key Expectations
Prominent executives have shared their insights on what the budget should prioritize to align with national goals.
Strengthening Make in India Framework
Rajesh Doshi, director and co-founder at Zebronics, emphasized the importance of the budget in accelerating India's economic and manufacturing-led transformation. He stated, "As India moves steadily toward its Viksit Bharat vision, the Union Budget 2026-27 presents a critical opportunity to accelerate the country’s next phase of economic and manufacturing-led transformation." Doshi highlighted that reinforcing the Make in India initiative through sustained support for domestic manufacturing, technology adoption, and research and development is vital for building global competitiveness.
He further suggested that a continued focus on skill development, electronics manufacturing clusters, and stronger MSME supplier ecosystems could help India ascend the value chain, reduce import reliance, and establish long-term industrial resilience. Additionally, Doshi proposed rationalizing income tax structures to increase disposable incomes, which would boost domestic consumption and provide a significant demand impetus for the manufacturing sector.
Enhancing Manufacturing and Infrastructure
Tadashi Chiba, managing director and CEO of Panasonic Life Solutions India, noted that the budget arrives at a time when India's economic momentum remains robust, with the country on track to become the world's fourth-largest economy. He remarked, "The Union Budget 2026–27 comes at a time when India’s economic momentum remains strong, with the country poised to become the world’s fourth-largest economy." Chiba stressed that continued emphasis on manufacturing-led growth through initiatives like the Production Linked Incentive (PLI) scheme and the Electronics Component Manufacturing Scheme (ECMS), coupled with investments in infrastructure, logistics efficiency, and support for R&D and design-led manufacturing, will be essential to sustain this growth and strengthen India's manufacturing ecosystem.
For the consumer durables sector, Chiba called for policy measures that further bolster domestic manufacturing and stimulate consumer demand. He advocated for rationalizing customs and GST duties on key components, such as compressors, and addressing inverted duty structures to enhance the cost competitiveness of locally manufactured appliances and electronics. Enhanced support for component manufacturing through existing incentive frameworks and targeted tariff reforms could deepen localization, improve ease of doing business, and better integrate India into global value chains, accelerating the country's journey toward becoming a globally competitive manufacturing hub while ensuring sustainable growth for the sector.
Fostering Digital Inclusion and Innovation
Arijeet Talapatra, CEO of TECNO Mobile India, highlighted the role of smartphones as essential digital infrastructure, particularly for consumers beyond metropolitan areas. He expressed optimism about the budget, saying, "The Union Budget 2026 is a moment we are genuinely looking forward to, as it has the potential to further strengthen India’s electronics ecosystem by encouraging formal market growth and reducing market leakages." Talapatra emphasized that a stable and transparent operating environment is crucial for ensuring wider access to technology tailored to Indian needs and real-world usage conditions.
He expressed hope that the budget would introduce measures supporting the industry while benefiting consumers and the broader ecosystem. Talapatra also underscored the importance of continued emphasis on AI-led innovation, thoughtful design, and reliable connectivity to ensure technology remains accessible, relevant, and inclusive across Bharat.
Conclusion: A Pivotal Budget for Economic Growth
In summary, the Union Budget 2026-27 is poised to play a significant role in India's economic trajectory. By addressing the calls for enhanced domestic manufacturing, innovation support, and industrial resilience, it could effectively contribute to realizing the Viksit Bharat vision. The collective input from startup and tech leaders underscores the need for a balanced approach that fosters growth, competitiveness, and inclusivity in the evolving digital landscape.
