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Mr. Dheeraj Panda

Managing Director, Ammann India 

“The Union Budget reinforces infrastructure and manufacturing as twin engines of India’s next growth phase, with central capex rising to over ₹12 lakh crore. The announcement of execution of seven new high-speed rail corridors, multimodal logistics, freight-linked infrastructure and urban connectivity especially in tier-2 and tier-3 cities, will drive demand for high-output, reliable and technologically advanced construction equipment. Long-term visibility is critical for the construction and equipment industry to plan capacity, technology investments and localisation with confidence.

Additionally, MSME-focused measures like improved payment cycles, credit support, and cluster revival will enable smaller contractors to modernise fleets and adopt advanced plants and pavers to cater to the changing infrastructural needs.

We congratulate the Hon. Finance Minister on the policy continuity, ecosystem support, and forward-looking incentives needed for the construction equipment industry to enable India’s infrastructure-led growth over the next decade.”

Mr. Lakshmi Narayana G

Designated Partner (Laxmi Infra), GHR Lakshmi Urbanblocks Infra LLP.

The Union Budget 2026 positions real estate as a key growth engine by building a more stable, capital-efficient ecosystem that reduces project risk and attracts institutional investment - a critical need for premium, sustainable housing in fast-growing markets like Hyderabad.

The push for Green Credits and incentives for sustainable construction technologies - such as dry construction methods and recyclable materials - signals a clear policy shift toward environmentally responsible development. The Construction and Infrastructure Equipment (CIE) scheme, with its focus on advanced and energy-efficient equipment including modern lift systems for high-rises, further supports this transition toward smarter, greener buildings.

On the demand side, simplified NRI transactions - especially PAN-based TDS compliance without the need for a TAN - can significantly reduce friction for overseas buyers, making Indian real estate more accessible and investment-friendly. 

Importantly, the Budget’s emphasis on sustainable urban renewal across housing segments from mid-income to premium - along with credit guarantees and process simplification, empowers developers to create more inclusive, well-planned communities. Growth corridors such as Kokapet and Neopolis in Hyderabad are well-placed to benefit from improved financing access and green incentives, enabling projects with smart technologies, global certifications, and future-ready amenities.

From a premium developer’s perspective, the real opportunity lies in building integrated townships that balance density, sustainability, lifestyle, and livability ensuring that growth remains equitable for both developers and homebuyers, while meeting the rising aspiration for high-quality urban living.

Mr. Dilip Oommen

CEO, AM/NS India

“The continued outlay on capex for infrastructure is a welcome step to support industry’s long-term growth. Measures to strengthen project financing, revive industrial clusters and expand infrastructure in Tier-2 and Tier-3 cities will also boost domestic manufacturing and competitiveness. At AM/NS India, we remain committed to supporting this nation-building effort through sustainable steelmaking and long-term investment in India’s growth.”

Mr. Shalabh Chaturvedi

Managing Director, India & SAARC region, CASE Construction Equipment

“We strongly welcome the Union Budget 2026–27’s decisive push for infrastructure, reflected in the increase of public capital expenditure to ₹12.2 lakh crore. The announcement of the Scheme for Enhancement of Construction and Infrastructure Equipment is a landmark step for the industry. For CASE Construction, this reinforces the vision of manufacturing in India for an Aatmanirbhar Bharat by promoting domestic production of high value, technologically advanced equipment. The planned development of City Economic Regions, new freight corridors, and expansion of national waterways under the PM Gati Shakti programme will drive demand for advanced construction equipment. The Budget’s broader policy support for manufacturing and industrial ecosystems will help accelerate supply chain migration into India and create large scale employment opportunities. With a continued focus on ease of doing business and exports, this Budget lays a strong foundation for industrial growth aligned with the vision of Viksit Bharat.”

Mr. Puneet Vidyarthi

Head of Brand Marketing, CASE Construction India & APAC and President, Rural Marketing Association of India

“The Budget’s continued focus on infrastructure-led growth beyond metros is a positive signal. Greater emphasis on connectivity and localised development can help accelerate economic activity across semi-urban and rural markets. As development expands closer to these regions, building skills at the grassroots level becomes equally important to support efficient execution and long-term impact. Together, these measures can contribute to more balanced growth while strengthening local economies and market potential.”

Mr Rinkesh Roy

Joint Managing Director and CEO, JSW Infrastructure Ltd.

“We congratulate the Honourable Finance Minister and the Government of India on a decisive and forward-looking Budget that firmly positions infrastructure as the foundation of India’s growth. The thought through push towards port modernisation, inland waterways, coastal shipping, and logistics corridors will make India competitive and marks a structural change.

 The additional focus on expanding national waterways, strengthening east coast connectivity, container manufacturing, and digitalisation of ports aligns closely with our vision of building integrated, port-led logistics ecosystems. Creating seamless linkages between ports, evacuation infrastructure, and industrial clusters is a must to achieve the uninterrupted growth.

 Equally encouraging is the emphasis on green ports, sustainability-linked financing, ship repair, and smart-port technologies, which will enhance India’s maritime competitiveness while supporting long-term, sustainable growth. Overall, Budget 2026–27 reinforces India’s ambition to emerge as a global maritime and logistics hub and provides strong momentum to port-led industrial development.”

Mr. Satish Kumar Agarwal

Chairman and Managing Director, Kamdhenu Group

“The 12.2 lakh crore capital expenditure outlay with targeted push for high-speed rail and road corridors, waterways and city economic regions among others highlights a sustained push for infrastructure led growth. The focus on infrastructure development in tier-2 and tier-3 cities with over 5 lakh population will be a strong push to the growth momentum. The proposed Infrastructure Risk Guarantee Fund is a game-changer as it effectively de-risks investments in infrastructure projects. The cumulative impact of the growth focussed budget will result in a sustained growth in demand for steel and allied products including value added steel as the key component in infrastructure development.”

Mr. Amit Gossain

Chairman and Managing Director, KONE Elevators India & South Asia

We welcome Budget 2026 and its clear focus on strengthening India’s infrastructure-led growth. The emphasis on urban development, particularly across tier-2 and tier-3 cities, will play an important role in advancing smart urbanisation and modern vertical construction. This creates meaningful opportunities for companies like KONE India to support the next phase of India’s city-building journey.

The proposed capital expenditure of ₹12.2 lakh crore for FY27, along with continued focus on R&D and digital capabilities, sends a strong signal towards innovation, efficiency, and long-term competitiveness. These measures will help accelerate infrastructure creation, improve logistics, support employment, and contribute to more sustainable and future-ready cities.

At KONE India, we look forward to contributing to this momentum by bringing safer, smarter, and more sustainable mobility solutions to India’s growing urban landscape. Budget 2026 provides a positive and enabling roadmap for the infrastructure sector and reinforces confidence in India’s long-term growth story.

Mr. Vikram Goel

Chief Business Officer – Industrial at Mahindra Lifespaces

 “The Union Budget reinforces the long-term fundamentals of India’s industrial and urban growth agenda through a strong infrastructure push, improved execution certainty and sustained public capital expenditure. In an increasingly uncertain global trade environment, the flexibility extended to SEZ manufacturing units to access domestic markets is a timely and pragmatic measure that helps stabilise operations, optimise capacity utilisation and support more predictable investment planning.

The continued focus on freight corridors, high-speed connectivity and the development of city economic regions will strengthen industrial competitiveness, logistics efficiency and regional growth. For integrated developments like Mahindra World City in both Jaipur and Chennai, which bring together SEZ and DTA ecosystems within a master-planned urban framework, this direction strongly aligns with our vision of building resilient industrial clusters where manufacturing growth is seamlessly integrated with jobs, housing and urban infrastructure, enabling long-term, sustainable growth.”

Mr. Sudhanshu Vats

MD, Pidilite Industries Limited

The Union Budget 2026–27 reinforces strong confidence in India’s growth trajectory, anchored in manufacturing, infrastructure and consumption. The continued focus on domestic manufacturing across chemicals, electronics and capital goods strengthens supply-chain resilience and supports India’s ambition to be a globally competitive production hub. With public capex at ₹12.2 lakh crore, demand across housing, construction and infrastructure-linked industries will remain robust, directly benefiting the building materials and adhesives ecosystem. The emphasis on digital infrastructure, Automation & AI-led Customs reforms and trade facilitation will enhance ease of doing business and global integration. Overall, the Budget provides the confidence to invest, innovate and scale alongside India’s long-term economic vision. Onwards to a Viksit Bharat 2047.

Mr. Sunil Nair

CEO of Ramky Infrastructure Ltd

“The Union Budget 2026 underscores a clear continuity of confidence in India’s infrastructure growth story. The proposal to establish an Infrastructure Risk Guarantee Fund is a particularly forward‑looking intervention, it directly addresses one of the biggest hurdles in the sector: risk perception during the early stages of project development and construction. By offering partial credit guarantees to lenders, the Fund will not only ease financing bottlenecks but also embolden private players to invest in new, large‑scale projects with greater assurance.

Equally significant is the government’s move to accelerate asset monetisation through dedicated Real Estate Investment Trusts (REITs) for  Central Public Sector Enterprise (CPSE) owned real estate. This will unlock dormant capital, enhance liquidity in the system, and catalyse a new wave of investments across allied sectors like logistics, housing, and industrial infrastructure.

Complementing these reforms, the Budget’s thrust on industrial infrastructure through the Chemical Park and bulk drug park, Biopharma Shakti schemes enhances India’s manufacturing and innovation ecosystem. The Chemical Park and bulk drug park will create plug‑and‑play clusters to boost domestic chemical production and reduce imports, while the ₹10,000 crore Biopharma Shakti initiative aims to build a globally competitive biopharma ecosystem through new NIPERs, clinical trial networks, and upgraded regulatory standards.

Finally, with a proposed capital expenditure of ₹12.2 lakh crore for FY 2026‑27, the Budget reaffirms infrastructure as the backbone of India’s economic momentum. These measures together create a balanced ecosystem, de‑risked, capital‑efficient, and geared towards sustainable, high‑velocity growth. For developers like Ramky Infrastructure, this paves the way for deeper partnerships in nation‑building.

Mr. Amit Sharma

MD & CEO, Tata Consulting Engineers

The Union Budget 2026–27 sets a clear direction for India’s long term growth, with a strong focus on capital investment, manufacturing competitiveness and technology led development. Continued high spending on infrastructure strengthens confidence in execution and supports progress across transportation, urban development and logistics. The emphasis on high speed rail, alongside roads, metros, ports and urban infrastructure, signals a move towards next generation connectivity. Policy continuity on clean energy and grid strengthening supports energy security and transition, while the focus on advanced facilities such as semiconductors, electronics, data centres and pharmaceuticals builds domestic capability. Measures supporting hydrocarbons and chemicals, and metals and mining including rare earth corridors, strengthen critical supply chains. Overall, the Budget underlines the importance of delivery quality alongside investment scale, and Tata Consulting Engineers remains committed to converting this policy intent into future ready assets for the nation.

Mr. Harsh Pareek

Vice President, Direct Sales, Asia-Pacific at Trimble

"The ₹12.2 trillion allocation for the Infrastructure and construction sector announced in this Budget sends a clear signal that infrastructure remains central to India’s growth agenda, even in a challenging global environment. Sustaining this level of investment will be important, not just to keep projects moving, but to ensure long-term economic impact.

What stands out is the focus on expanding infrastructure development into Tier-2 and Tier-3 cities, which are fast emerging as key growth centres. As construction activity spreads across more regions, the project complexity will increase and so execution and quality on the ground will matter more than ever. The continued push for advanced technologies is a positive step towards building infrastructure that is dependable, scalable and built to last.”

Mr. Vinod Aggarwal

MD & CEO, VE Commercial Vehicles

“The Union Budget 2026 sets out a clear and purposeful roadmap to strengthen India’s growth trajectory and advance the vision of Viksit Bharat. With a clear focus to build capability in crucial areas, the budget reinforces the foundations of the automotive and commercial vehicle industry. The continued focus on capital expenditure, with ₹12.2 lakh crore allocated for infrastructure, will play a critical role in sustaining demand for trucks, buses, and logistics assets that underpin economic activity nationwide.

The Budget’s emphasis on developing Rare Earth Mineral Corridors across Odisha, Kerala, Andhra Pradesh, and Tamil Nadu marks a strategic step toward securing critical inputs for electric motors and advanced components. This will reduce import dependence, strengthen domestic value chains, and bolster India’s long-term competitiveness in high-technology mobility.

On the clean mobility front, the continuation of duty exemptions on capital goods for battery manufacturing, alongside targeted incentives for localized processing, sends a strong signal of intent. These measures are instrumental in accelerating EV adoption while building a cost-efficient battery ecosystem crucial for improving the Total Cost of Ownership and driving wider commercial viability.

Overall, the Budget strikes the right balance between near-term industry confidence and long-term capacity building, reinforcing India’s position as a resilient, self-reliant, and globally competitive manufacturing hub.”

Mr. Anil Agarwal

Chairman, Vedanta Ltd

"A growth-oriented Budget, with a clear focus on increasing public capital expenditure and boosting manufacturing. It is a Budget which creates opportunities for youth to improve their livelihoods, women to become financially independent, and for employment-intensive sectors like medical tourism to take off. I welcome the Government's keen attention to critical minerals and rare earths. The Rare Earths Corridors for mining, processing, R&D, and manufacturing in Odisha, Tamil Nadu, Andhra Pradesh, and Kerala will boost growth, employment, and mineral security. Import duty exemption on capital goods for critical minerals processing is very timely in the current global scenario. The announcement on flexibility in SEZs, which will permit some sales in the domestic market, is an excellent move. I congratulate the Prime Minister and Finance Minister for continuing to steer the Indian economy with a very steady hand in uncertain times."

Mr. Ajay Chaudhary

Founder, Chairman and Managing Director, ACE Group

“The Budget’s continued emphasis on infrastructure and urban development is a positive signal for well-planned real estate projects. With cities clearly being positioned as engines of growth, sustained investment in urban infrastructure, along with provisions focused on enhanced connectivity and large-scale projects such as the announcement of seven new high-speed rail corridors, the push for modern infrastructure development across tier-II and tier-III cities, and a broader ₹10,000 crore growth-oriented funding framework supporting enterprise and urban activity, will play a key role in shaping premium housing demand.”

Mr. Vijay Jain, Director

Star Estate

“The Budget sends a steady signal for the real estate market, particularly through its continued focus on infrastructure. From a homebuyer’s perspective, measures such as allowing the annual value of two self-occupied homes to be treated as nil and raising the TDS threshold on rental income to ₹6 lakh help improve household balance sheets and ease friction in the housing ecosystem. Along with new connectivity corridors and growing focus on tier-II and tier-III cities, these steps support long-term confidence across residential and commercial markets, where buyers are increasingly guided by location quality and long-term value.”

Mr. Ashok Kumar Bhaiya

Chairman & Managing Director at Aludecor Lamination Pvt. Ltd.

“The Union Budget 2026, presented by Hon’ble Finance Minister, is aimed at further accelerating the momentum of the construction and building materials sector in India. The sustained growth in public capital expenditure to ₹11.2 lakh crore, and the development of Tier II and Tier III cities with a population of over 5 lakhs as growth centers and City Economic Regions, will help sustain demand for quality construction materials, where quality and compliant façade solutions are becoming increasingly important.

The Scheme for Enhancement of Construction and Infrastructure Equipment is especially important, as it promotes the use of modern and safety-driven construction practices. This will lead to a natural increase in the demand for engineered, fire-rated, and performance-oriented façade materials, which will provide greater opportunities for organized manufacturers.

While the direction outlined in the Budget is encouraging, the pace of on-ground implementation will be key in determining its real impact on the sector. We remain optimistic and look forward to these measures translating into consistent project execution and sustained industry growth.”

CA Baratam Satyanarayana

Chief financial officer & Director, Bondada Group

“The Budget provides a clear operational framework for the next phase of expansion, driven by accelerated infrastructure creation, improved renewable energy economics, and rising demand from sectors such as data centres and advanced manufacturing. The emphasis on rail connectivity and the growth of Tier II and III hubs aligns perfectly with our execution-driven approach in power, solar, and industrial infrastructure. A key benefit is the reduced import duty on solar glass, which will lower project costs and accelerate the deployment of renewable energy projects, thereby improving their overall feasibility. These initiatives, taken together, boost scalability, strengthen domestic supply chains, and facilitate quicker on-ground execution. We view this as a critical juncture, where clear policy converges with opportunity, enabling us to broaden our presence and make a significant contribution to Bharat's upcoming era of sustainable, infrastructure-driven growth.”

Mr. Adhil Shetty

CEO, BankBazaar

“Union Budget 2026–27 strengthens the foundations of India’s formal credit and financial system through targeted, data-backed measures. The proposed ₹10,000 crore SME Growth Fund is a key intervention. It addresses the long-standing equity and growth capital gap faced by scaling MSMEs, which employ over 11 crore people and contribute nearly 30 percent of India’s GDP. Better access to patient capital can help viable enterprises move from survival mode to sustainable expansion. The continued focus on strengthening the TReDS and invoice discounting framework directly tackles MSME liquidity stress. Faster receivables financing improves cash flows, reduces dependence on informal borrowing, and lowers working capital costs. This is critical for small businesses operating on thin margins.

Within banking and NBFCs, the proposal to constitute a high-level committee on banking for Viksit Bharat signals a comprehensive review of the sector. The focus on financial stability, inclusion, consumer protection, and technology adoption is timely. The government’s clearer articulation of the role of NBFCs, including defined credit targets and technology-led efficiency, reinforces their importance in last-mile credit delivery. For households, the reduction in TCS under the Liberalised Remittance Scheme to 2 percent from 5 percent for foreign travel, education, and medical expenses will ease upfront cash-flow pressure. It improves affordability for overseas education and healthcare while reducing short-term liquidity strain. Overall, Budget 2026–27 takes a measured approach. By combining capital support, digital and AI-led infrastructure, and regulatory reform, it aims to deepen formal credit penetration, improve liquidity, and strengthen trust across India’s financial system.”

Mr. Akshay Taneja

CEO, TDI Infrastructure

“Metro cities are witnessing saturation, with residential prices rising 25–30% over the last three years, alongside land scarcity, stretched infrastructure and longer approval cycles. In contrast, Tier-2 and Tier-3 cities now account for 44% of residential land acquisitions and are driving demand beyond metros. Housing sales across 60 cities crossed 6.8 lakh units in 2024, up 23% YoY, reflecting stronger affordability and connectivity. Digitalisation incentives and sustained infra spending will be critical for enabling safe, smart and scalable urban ecosystems across emerging city economic regions. Increase in infrastructure capex from ₹11.2 lakh crore to ₹12.2 lakh crore for FY27, combined with ₹500 crore in government support and the Infrastructure Risk Guarantee Fund, will materially improve project viability and private capital participation. However, it lays out a decisive blueprint for India’s next phase of urban growth.” 

Mr. Ashish Narain Agarwal 
Founder & MD of PropertyPistol

“Union Budget 2026 reinforces real estate as a core investment pillar. The simplification of NRI property sale transactions is a structural reform that improves liquidity and accelerates cross-border capital inflows. A dedicated ₹5,000-crore push for Tier-2 and Tier-3 cities, supported by the newly introduced Risk Guarantee Fund, materially reduces execution risk and enhances investor confidence.

With infrastructure capital expenditure rising to ₹12.2 lakh crore, city-economic regions are set to expand beyond metros, driving housing demand through improved connectivity, employment, and urban infrastructure. For real estate investors, this Budget shifts the narrative from speculative growth to policy-backed, data-driven returns. Emerging cities now offer a compelling mix of affordability, infrastructure momentum, and long-term appreciation making this the right cycle to invest with conviction.”

Mr. Sunil Pandita

CDO, Nemetschek Group

“Budget 2026–27 sends a strong and timely signal towards building future-ready infrastructure for India. The government’s continued focus on public capital expenditure of ₹12.2 lakh crore, development of Tier 2 and Tier 3 cities, expansion of dedicated freight corridors, inland waterways, and creation of a robust infrastructure risk guarantee framework will significantly strengthen India’s infrastructure backbone.

Equally encouraging is the emphasis on emerging technologies, particularly artificial intelligence, with large-scale capacity-building initiatives and national technology missions. As infrastructure networks expand in scale and complexity, digital engineering, AI-driven design, geospatial intelligence, and predictive modeling will be critical to enhancing safety, quality, resilience, and lifecycle performance of assets across highways, waterways, urban infrastructure, and logistics corridors.

We see this Budget as an opportunity to accelerate the adoption of open, interoperable digital technologies across the construction and infrastructure ecosystem. By embedding digital-first design, planning, execution, and maintenance practices, India can deliver infrastructure that is not only faster and more cost-efficient, but also sustainable and resilient for decades to come. We look forward to supporting India’s infrastructure vision through technology-led innovation and global best practices.”

Mr. Vishal Raheja

Founder & MD, InvestoXpert Advisors

“Union Budget 2026–27 articulates a more integrated real estate vision, where metro markets continue to anchor institutional stability while temple towns and pilgrimage corridors evolve as structured growth extensions. By scaling public capital expenditure to ₹12.2 lakh crore, the government is reinforcing infrastructure intensity across established cities and culturally significant destinations alike.

Improved connectivity around temple towns will enable a transition from fragmented, seasonal development to planned hospitality districts, mixed-use assets, and organised residential catchments, while metros benefit from deeper liquidity through CPSE asset monetisation via dedicated REITs. The introduction of the Infrastructure Risk Guarantee Fund reflects a mature policy approach that recognises execution risk as a core constraint to quality development. Together, these measures position real estate as a long-term enabler of economic continuity, urban depth, and sustainable value creation across markets.”

Mr. Sunil Sisodiya

Founder & CEO, Neworld Developers

“Budget 2026 is a major boost for India’s holiday home and tourism-linked real estate sector. With ₹12.2 lakh crore allocated to infrastructure, including high-speed rail, waterways, and eco-tourism corridors, connectivity to key leisure destinations will improve significantly. In Goa, a prime leisure and lifestyle destination, these initiatives are expected to enhance demand for holiday homes and resorts.

Programs such as the National Institute of Hospitality, B12 hospitality classes, tourism courses with IIM collaboration, and the National Destination Digital Knowledge Grid will upskill over 10,000 professionals, integrating digital tools into hospitality education. Coupled with focus on India’s cultural, spiritual, and heritage sites, these measures will strengthen demand for lifestyle-driven real estate and reinforce India’s leadership in tourism and hospitality.”

Mr. Saransh Trehan

Managing Director, Trehan Group

“The Union Budget 2026 lays down a strong foundation for India’s real estate sector by significantly increasing infrastructure investment, with capital expenditure raised to ₹12.2 lakh crore for FY27,the highest ever which will drive connectivity and economic activity across urban and emerging markets. The emphasis on fast‑tracking REIT‑led asset recycling and support for Tier‑2 and Tier‑3 cities signals meaningful policy support to improve liquidity and investor confidence. Together with enhanced affordability measures and financing options, this Budget can catalyse demand and help the real estate industry sustainably contribute to job creation, urbanisation, and inclusive growth.”

Mr. Sidharth Chowdhry

Managing Director, Dalcore

The Union Budget 2026–27, with a proposed capital expenditure of ₹12.2 lakh crore, reinforces the government’s commitment to infrastructure-led and balanced regional growth, particularly across Tier-2 and Tier-3 cities. For the luxury housing segment, especially in mature micro-markets like Golf Course Road, Gurugram, the Budget strengthens long-term fundamentals such as connectivity, institutional confidence, and planned urban development. Measures like asset monetisation through REITs and the Infrastructure Risk Guarantee Fund will further boost investor sentiment. At Dalcore, this aligns with our vision of creating globally benchmarked, design-led residential landmarks that support sustainable urban living as India progresses towards Viksit Bharat @2047.

Dr. Hanuma Prasad Modali

Managing Director & CEO, Deccan Gold Mines Ltd.

The Union Budget 2026–27 reinforces the Government’s commitment to real, on-ground reforms that strengthen India’s economic resilience even in a challenging global environment. The focus on scaling manufacturing across strategic sectors, building long-term security and stability, and advancing inclusive growth provides a strong foundation for India’s next phase of development.

For the mining and resources sector, the proposed scheme for rare earths and critical minerals -  especially in mineral-rich states such as Andhra Pradesh and Tamil Nadu -  is a significant and timely intervention. The decision to provide basic customs duty exemption on capital goods required for processing of critical minerals in India, and to extend tax deductibility for expenditure on prospecting and exploration by including additional critical minerals, directly improves project economics and lowers entry barriers for serious explorers.

Measures aimed at improving access to exploration data, supporting beneficiation and processing, strengthening capital goods capabilities, and accelerating infrastructure creation will materially shorten the journey from discovery to production.

Taken together, these reforms move India closer to a truly self-reliant critical minerals ecosystem. We see this Budget as a strong enabler to accelerate our gold and critical minerals portfolio and to contribute meaningfully to India’s Atmanirbhar Bharat vision through responsible, technology-led and sustainable mining.

Mr. Sam Chopra

President and Country Head, eXp Realty India s

“India is moving from city building to region building. High-speed corridors and logistics networks will create City Economic Regions, but their success will depend on governance—especially transparent resale markets, escrow discipline and professional intermediary accountability.”

Mr. Subhakar Pappula

Founder & CEO, Flamingo Aerospace

“The Union Budget 2026–27 is a timely and decisive intervention for India’s civil aviation ecosystem. The exemption of basic customs duty on aviation components, parts, and raw materials directly addresses long-standing cost and supply-chain constraints that have limited scale, localisation, and global competitiveness.

As highlighted by Hon’ble Union Finance Minister Nirmala Sitharaman, the proposed duty exemptions for components used in civilian training and other aircraft, as well as for raw materials supporting MRO requirements in the defence sector, will significantly strengthen domestic manufacturing and maintenance capabilities. 

These measures will accelerate aircraft manufacturing, expand MRO infrastructure, create skilled employment, and reinforce India’s emergence as a dependable regional aviation and aerospace hub. The Budget’s broader emphasis on capital investment, including customs duty exemptions on capital goods across key sectors, along with the proposal to institutionalise services-sector policy through a high-powered committee assessing the impact of AI on jobs, reflects a forward-looking approach to competitiveness and workforce readiness.

Together, these steps strongly advance the objectives of Make in India and Atmanirbhar Bharat by enabling the aviation sector to build resilience, deepen value addition, and move up the global value chain.”

Mr. Aayush Madhusudan Agrawal

Founder & Director, Inspira Realty

“We welcome the Union Budget 2026–27 as a balanced and reform-driven Budget that reinforces the Viksit Bharat vision through inclusive urbanisation and sustainable development. The government has significantly increased capital expenditure on infrastructure to ₹12.2 lakh crore, with a meaningful portion directed towards urban and regional development. The expansion of City Economic Regions in tier-two and tier-three cities, supported by investments in urban infrastructure, logistics corridors and regional connectivity, will improve access to employment centres and enhance liveability in emerging towns, expanding the homebuyer base beyond metros. The Infrastructure Risk Guarantee Fund is a timely measure to improve access to construction finance and reduce execution risks, particularly for affordable and mid-segment housing projects where timely completion and cash flow certainty are critical. Major tax incentive changes for homebuyers would have been a welcome move for the industry, but that was a miss. As growth in healthcare, pharma, education, and services across cities strengthens employment opportunities, more families will gain the financial confidence to invest in homeownership. Collectively, these measures support housing affordability and the long-term expansion of the residential real estate market.”

Mr. Robin Mangla

President M3M India

The Union Budget 2026 reinforces the importance of infrastructure-led growth as a key driver for real estate. The increase in capital expenditure to ₹12.2 lakh crore provides long-term visibility for urban expansion, connectivity, and project execution, underpinning demand across both residential and commercial segments. These measures will strengthen the overall real estate ecosystem, improve execution confidence, and support sustained growth across key markets, aligning well with M3M’s focus on delivering world-class developments and reinforcing long-term investor confidence.

Mr. Yash Garg

Director, M3M Noida

The Union Budget 2026–27, with a capital expenditure outlay of ₹12.2 lakh crore and a continued focus on infrastructure development, provides a strong impetus for India’s real estate sector. Initiatives like the Infrastructure Risk Guarantee Fund and REIT-enabled asset monetisation are expected to enhance institutional capital flows and bolster developer confidence. At M3M, this reinforces our commitment to delivering high-quality, sustainable real estate projects while supporting India’s vision of Viksit Bharat 2047

Sh. Shrivallabh Goyal

CEO & Whole-Time Director, Model Economic Township Ltd. (Reliance MET City)

The Union Budget 2026–27 reinforces the government’s clear commitment to infrastructure-led growth as the cornerstone of economic expansion, employment generation, and nationwide connectivity. The enhanced capital expenditure outlay of ₹12.2 lakh crore signals a decisive focus on building world-class physical and industrial infrastructure. This investment goes beyond headline numbers, translating into tangible progress across transport corridors, modern logistics networks, urban infrastructure, and industrial ecosystems; particularly in emerging Tier-2 and Tier-3 cities.

The Budget’s strong emphasis on urban development further strengthens this momentum. With increased focus on urban housing, mobility, and city-level services, the government is laying the foundation for sustainable, liveable, and investment-ready cities. Integrated developments such as Reliance MET City exemplify this approach, where industrial infrastructure, urban planning, and workforce ecosystems converge to support long-term economic activity. Such targeted urban and industrial development will be critical in attracting private investment, enabling seamless urbanisation, and advancing India’s growth ambitions on the path to Viksit Bharat 2047.

Mr. Bitan Datta

Transportation and Advanced Industrials, Oliver Wyman

“Union Budget 2026 is episodic in India’s transformative journey to be “Viksit Bharat” (‘Developed India’). The budget reinforces transportation and industrial infrastructure as critical enablers of this transformation. The focus on high-speed rail corridors, new dedicated freight corridors, national waterways and coastal shipping highlights a clear intent to improve logistics efficiency and multimodal connectivity. These investments will continue to reduce transit times, lower logistics cost and enhance supply-chain competitiveness of Indian manufacturing. The emphasis on indigenous manufacturing, combined with large-scale public capital expenditure, is focused on building self-reliability in critical segments - semiconductor, electronics, rare earth applications, containers, energy transition, biopharma and high-value, technologically-advanced construction & infra equipment. Budget 2026 signals consistency in the Government’s push to boost India’s global competitiveness.”

“Union Budget 2026 is episodic in India’s transformative journey to be “Viksit Bharat” (‘Developed India’). The budget reinforces transportation and industrial infrastructure as critical enablers of this transformation. The focus on high-speed rail corridors, new dedicated freight corridors, national waterways and coastal shipping highlights a clear intent to improve logistics efficiency and multimodal connectivity. These investments will continue to reduce transit times, lower logistics cost and enhance supply-chain competitiveness of Indian manufacturing. The emphasis on indigenous manufacturing, combined with large-scale public capital expenditure, is focused on building self-reliability in critical segments - semiconductor, electronics, rare earth applications, containers, energy transition, biopharma and high-value, technologically-advanced construction & infra equipment. Budget 2026 signals consistency in the Government’s push to boost India’s global competitiveness.”

Ms Pragya Priyadarshini

Managing Director, Primus Partners

“This year’s budget presents a balanced and forward-looking blueprint for infrastructure, highlighting development of high-speed and freight corridors to reduce logistics cost and time while encouraging a modal shift from road to rail and waterways. The Infrastructure Risk Guarantee Fund will help improve project bankability by mitigating risks and attracting private capital. A ₹10,000-Crore, five-year container manufacturing scheme will help India reduce reliance on foreign suppliers and strengthen self-reliance in line with Atmanirbhar Bharat. Greater domestic production will stabilise container availability and reduce logistics costs, enhancing trade competitiveness. These steps collectively are a journey towards an integrated, future-ready ecosystem, which now needs effective and timely implementation.”

Mr. Anil Mittal,

Chief Financial Officer, Smartworld Developers.

“Budget 2026 lays out a pragmatic roadmap for India’s urban future, anchored in a sustained infrastructure push and clear policy direction that channels long-term investment into major metropolitan markets. In Tier-1 cities, where connectivity, mass mobility and civic infrastructure are key demand drivers, the focus on capex-led growth and regulatory certainty strengthens market confidence and supports sustainable real estate development. As the sector builds enduring urban communities, consistent policy signals and robust infrastructure will remain the foundation for quality housing and long-term value creation,”

Mr. Ram Aggarwal

CEO, Goodluck India Limited

“The Union Budget 2026 further strengthens Government’s vision for a Vikasit Bharat 2047 with sustained push on infrastructure, inclusion and self-reliance. The planned outlay across defense, urban and rural development, logistics and high-speed rail networks will boost demand for specialized steel products. At the same time, the recent classification of. coking coal as a critical and strategic mineral will further strengthen India’s quest for being Atmanirbhar in metals sector.”

Mr. Sandeep Kumar

Co-founder and Managing Director, A-One Steel India Limited

“The announcement of a ₹20,000 crore carbon capture and utilisation scheme marks an important step for decarbonising steel manufacturing while safeguarding competitiveness. Combined with fiscal discipline and infrastructure-led growth, the Budget creates a balanced framework where sustainability and scale move together. This clarity on green transition, alongside steady demand drivers, supports long-term investments in cleaner technologies and modern production facilities.

Mr. Rupin Banker

Co-founder, Strategic Global Alliance

“The continued focus on infrastructure, backed by a public capital expenditure outlay of ₹12.2 lakh crore in FY 2027, will help steer investment towards scale, stability and long-term capital. A credible path of fiscal consolidation, along with measures such as the Infrastructure Risk Guarantee Fund, improves risk-adjusted returns for large, long-duration projects. From both domestic and global investor standpoints, India is increasingly being viewed as a reliable destination for patient infrastructure rather than short-term speculative flows.”

Mr. Vinesh Mehta

Chairman, Abhay Ispat

“The Union Budget 2026 lays a strong foundation for India’s infrastructure and industrial growth. With renewed emphasis on urban development, affordable housing, transportation, renewable energy and manufacturing, steel will play a pivotal role in realising these ambitions. As demand grows across construction, automotive, railways and energy sectors, the Budget’s focus on domestic manufacturing, technological upgrades and sustainable practices is set to strengthen the steel industry’s contribution to India’s growth story. Also, aligning with the roadmap launched in December 2025, CCUS technologies will be scaled across power, steel, cement, refineries, and chemicals, backed by an outlay of ₹20,000 crore over the next five years.”

Mr. Satyen J. Mamtora,

CEO and MD, Transformers and Rectifiers (India) Ltd. (TARIL)

“The enhanced Rs. 40,000 crore outlay under the Electronics Components Manufacturing Scheme highlights the continued focus on strengthening domestic manufacturing capabilities. For the power and energy sector, a stronger local electronics ecosystem is increasingly relevant as digitalisation and advanced systems become integral to transmission and grid infrastructure, supporting supply chain stability and capacity building.

Also, customs duty exemptions for capital goods used in lithium-ion battery and solar glass manufacturing, proposed exemptions for Battery Energy Storage Systems (BESS), and the extension of duty exemptions for nuclear power projects until 2035 together provide longer-term policy visibility and may help moderate costs while supporting investments across clean as well as conventional energy infrastructure.” 

Mr. Harinder Singh

Managing Director & CEO, Yokohama India Pvt. Ltd.

“The Union Budget’s continued emphasis on manufacturing depth, infrastructure expansion, critical mineral ecosystems and clean energy value chains sends a strong and progressive signal for India’s industrial future. Enhanced support for electronic components manufacturing, battery storage, lithium-ion cells and critical minerals creates long-term policy visibility for EV platform localisation, battery assembly and advanced power electronics manufacturing, thereby strengthening investment confidence across emerging mobility ecosystems.

For the tyre industry and the broader automotive sector, sustained capital expenditure of ₹12.2 lakh crore, expansion of highways, freight corridors, ports and multimodal logistics networks will significantly improve supply chain resilience, logistics efficiency and last-mile connectivity. Improved infrastructure access across Tier-II and Tier-III markets further enhances market reach and demand potential.

Additionally, customs duty rationalisation and exemptions on select capital goods and advanced components help improve cost competitiveness by lowering initial capex and operational costs for high-technology manufacturing investments in India.

At Yokohama India, where we continue to expand our domestic production footprint with a strong focus on localisation, sustainability and high value-added products, this policy direction reinforces confidence to accelerate investments in capacity, technology and next-generation manufacturing aligned with India’s long-term growth trajectory.”

Mr Rahul Kejriwal, Executive Director, Remsons

“We welcome the Union Budget 2026–27 and its strong focus on strengthening India’s position as a global hub for manufacturing and innovation. The push for targeted investments in advanced manufacturing, capital goods and clean mobility solutions open up fresh opportunities across vehicle manufacturing, auto components, and EV. EV component support will significantly benefit domestic electric motor manufacturing for two-wheelers, three-wheelers, and commercial EVs. Overall, the Budget will significantly strengthen domestic value chains and support the auto components sector.”

Varun Khanna, Group MD Quality Care India Ltd

“The Union Budget 2026-27 is a reform-driven blueprint that demonstrates the government’s long-term alignment with the vision of Viksit Bharat through sustained growth, fiscal discipline and people-centric development. The focus on establishing five hubs for Medical Value Tourism in partnership with the private sector, creating integrated regional medical hubs with diagnostics, post-care and AYUSH services, upgrading and setting up new institutions for Allied Health Professionals, and training 1.5 lakh multi-skilled caregivers will significantly strengthen India’s care ecosystem, including much-needed geriatric and allied care. The creation of new All India Institutes of Ayurveda and the upgradation of the WHO Global Traditional Medicine Centre reflect a progressive approach to integrating modern and traditional systems of medicine. Equally encouraging are the reduction of TCS from 5% to 2% for education and medical purposes, the strong thrust on Biopharma SHAKTI to accelerate domestic biologics manufacturing, and the exemption of basic customs duty on 17 cancer medicines, which together improve affordability, self-reliance and patient access. Anchored in a socially and economically conscious framework, and supported by continued investments in infrastructure beyond Tier 1 cities, digital enablement and public-private collaboration, this Budget lays a robust foundation for a resilient, patient-centric and globally competitive healthcare ecosystem.”