As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2026, captains of industry are looking beyond mere fiscal concessions.
The overarching sentiment from leaders across industries is a demand for structural reforms that cement India’s status as a global powerhouse. From the technology sector’s call for ethical AI frameworks and data privacy to the manufacturing industry’s push for deeper integration into global value chains, the expectations are clear. Leaders are advocating for a strategic pivot from resilience to dominance in the upcoming Budget.
Education and skilling have emerged as critical themes, with stakeholders urging the removal of GST on upskilling programs to foster a future-ready workforce. The focus is equally strong on hardware, with demands for local procurement mandates in smart classrooms and enhanced PLI schemes. This collective wishlist underscores a drive towards self-reliance, innovation, and a robust digital economy that aligns with the vision of a developed nation.
“As India prepares for Union Budget 2026, the focus should continue on building a robust ecosystem for technology, innovation, and trust. The government has laid a strong foundation with initiatives supporting AI adoption, digital infrastructure, and skill development, and the next budget is an opportunity to accelerate these efforts. We hope to see continued support for AI research and development, including grants, incentives, and policy measures that encourage enterprises to adopt AI and automation, strengthen efficiencies, and make data-driven decisions. Strengthening cybersecurity infrastructure and frameworks will be essential as digital and AI workflows become more pervasive.
India’s Data Protection and Privacy landscape also marks a critical juncture. While the DPDP Rules introduce global-standard protections, enterprises face the challenge of aligning compliance with trust. Budget 2026 could help by supporting technology-driven approaches to privacy, promoting architectures where consent, encryption, access controls, and automated governance are foundational, not performative. This will empower Indian tech companies to position themselves as privacy champions while building globally competitive solutions. Continued focus on the Global Capability Center (GCC) ecosystem, Tier-II/Tier-III city growth, and future-ready talent development, including initiatives promoting women in tech, remains crucial. Similarly, MSMEs and deep-tech startups should receive support through easier access to credit, innovation grants, and technology adoption incentives.
A concerted push to promote ‘Made in India’ innovations is imperative. The government can actively champion homegrown technology by introducing mandates for Public Sector Undertakings and central government departments to prioritize and adopt India-grown solutions. This would create a significant domestic market, fostering a self-reliant innovation ecosystem and ensuring that the benefits of technological advancement directly contribute to India’s strategic and economic growth.
Budget 2026 has the potential to drive India’s digital economy forward, empower its workforce, and foster a culture of innovation that integrates both business value and trust.”
- Srividya Kannan, Founder and CEO, Avaali Solutions
“The Union Budget 2026–27 will boldly advance India’s Viksit Bharat@2047 vision by prioritizing transformative investments in education technology, youth skilling, and middle-class prosperity—essential catalysts for the consumer electronics and edtech sectors. As a pioneer in monitors, projectors, and interactive flat panels (IFPs) that power modern homes, hybrid offices, and smart classrooms across the nation, we anticipate a comprehensive strategy that aligns fiscal measures with our sector’s growth trajectory.
In particular, we foresee a substantial allocation under PM SHRI and Samagra Shiksha schemes to revolutionize smart classrooms, mandating at least 50% local procurement of IFPs and projectors to equip 1.5 lakh schools and transform hybrid learning for 20 million students, enabling brands like ours to deploy over 2.5 lakh units annually. Complementing this, an enhanced PLI 2.0 scheme with ₹10,000 crore outlay would offer 7-10% incentives for localizing advanced 4K/8K panels, laser projection technology, and eye-care monitors, slashing import dependence from 45% to under 10% while scaling manufacturing capacity.
Moreover, a dedicated skilling fund for display manufacturing, AV integration, and optics training would empower the upskilling of over 4 lakh youth across 20 Tier-2/3 hubs, generating 6 lakh direct and indirect jobs in the ecosystem.”
- Rajeev Singh, Managing Director, BenQ India and South Asia
“As India approaches the Union Budget on 1 February, the global landscape defined by shifting trade blocs and evolving tariff structures demands a pivot from resilience to dominance. Geography may be in flux, but capability is what endures. To achieve the Viksit Bharat vision, the Budget must move beyond basic incentives to deepen our industrial roots. We need targeted support for MSMEs to integrate into global value chains, alongside fiscal frameworks that accelerate green manufacturing and technological self-reliance in defence and electronics. By strengthening our logistics backbone and incentivizing domestic R&D, we can transform global volatility into a competitive edge for Indian industry.”
- Rahul Garg, Founder and CEO, Moglix
“As an educationist, I believe the upcoming Union Budget has a critical role to play in strengthening India’s position in the global knowledge and digital economy. Education, especially skilling and upskilling, must be viewed as a long-term national investment rather than a taxable service. In a rapidly evolving job market driven by technology and innovation, continuous learning is essential for economic growth and workforce competitiveness.
One of the key expectations is the removal of the 18% GST on all skilling and upskilling programs for working professionals. Courses in IT, artificial intelligence, data science, management, finance, and other professional domains are no longer optional—they are essential for career progression and national productivity. Taxing such programs discourages lifelong learning and limits access.
Secondly, IT and professional education should be formally included under the National Skill Development Mission. Currently, the focus remains largely on vocational and entry-level training, while advanced professional education that fuels leadership, innovation, and digital transformation remains underserved.
Finally, the government should allow a 100% income-tax deduction on expenses incurred by working professionals for skilling, upskilling, and professional education. This would incentivize continuous learning, encourage self-driven talent development, and reduce dependence on public employment.
A progressive education-focused Budget can empower India’s workforce, attract global investment, and position the nation as a true knowledge economy.”
- Vivek K Singh, CMD, SNVA Veranda
“As Budget-related narratives and policy discussions take shape, the perspective underscores the need for sustained investment in clinical research, structured public–private collaboration, and the inclusion of proven Ayurveda interventions under national health programmes such as Ayushman Bharat–PMJAY to strengthen chronic care and reduce out-of-pocket expenditure.”
- Rajiv Vasudevan, MD, CEO and Founder, Apollo AyurVAID
“The Union Budget 2026–27 offers a transformative platform to operationalize India’s Viksit Bharat@2047 vision, with youth skilling and middle-class empowerment as foundational pillars that will cascade benefits to high-growth sectors like consumer electronics. As Hisense India accelerates its ‘Make in India’ commitment—producing advanced MiniLED TVs, smart ACs, refrigerators, and washing machines—we anticipate a few targeted measures to unlock our sector’s potential.
For instance, an increase in allocation for electronics by 20-25% with simplified norms for next-gen components like RGB MiniLED panels and AI chipsets would enable us to localize 60% of TV production value by FY27. Moreover, a dedicated fund for vocational training in semiconductors, display tech, and assembly lines, potentially partnering with tech brands, would also serve to skill 5 lakh youth annually and create 2 million jobs in the electronics value chain.
Furthermore, fast-tracking electronics parks in Tier-2/3 cities with subsidized power/land, plus duty drawbacks on exports would help target $50 billion in TV/appliance shipments by 2028, aligning with global innovation.”
- Pankaj Rana, CEO, Hisense India
“As a representative of the travel industry, we look at the Union Budget as an important opportunity to further strengthen India’s travel and tourism ecosystem, which plays a vital role in employment generation, regional development, and economic growth. The sector supports millions of livelihoods across airlines, hospitality, transport, and allied services, while also promoting cultural exchange and regional inclusion.
We respectfully hope the Budget continues to prioritise infrastructure development, regional and last-mile connectivity, and policies that enhance ease of doing business. Continued focus on airport modernisation, rail and road connectivity, and digital travel infrastructure would significantly improve the overall travel experience for both domestic and international travellers.
Supportive measures that enhance affordability, encourage domestic tourism, and strengthen inbound travel would further accelerate demand. For travel enterprises, particularly MSMEs and start-ups, stable regulatory frameworks and access to credit can help ensure sustainable growth.
We also believe that continued investments in skill development, sustainability initiatives, and technology adoption will enable the sector to improve service quality and global competitiveness. With balanced and forward-looking policy support, the travel and tourism industry can continue to contribute responsibly to India’s economic progress while aligning with national development priorities.”
- Alok K Singh, Chairman & CEO SNVA Traveltech (DBA Travomint)
