ASSOCHAM Welcomes Union Budget 2026 for Infrastructure & Innovation

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has
responded positively to the Union Budget 2026-27, with leaders across its national and
state councils hailing it as a forward-looking, reform-driven document that aligns with
long-term goals like Aatmanirbhar Bharat, sustainable growth, and Viksit Bharat by

2047. Industry voices from various sectors and regions emphasized the Budget’s focus
      on infrastructure, manufacturing, MSMEs, technology, green initiatives, healthcare,
      education, and logistics as transformative steps toward building a globally competitive
      economy.
      ASSOCHAM’s overarching sentiment portrays the Budget as balanced, growth-oriented,
      and committed to structural reforms rather than short-term measures. It reinforces
      public investment (with national capex at ₹12.2 lakh crore), supports strategic sectors,
      and empowers industry to drive inclusive development through ethical practices and
      innovation.
      Key highlights from ASSOCHAM leaders include:
      Shri Pankaj Lochan Mohanty, Chairman, ASSOCHAM Odisha State Development
      Council, described the Budget as powerfully reinforcing Odisha Vision 2036 and India
      Vision 2047. He spotlighted the ₹12,200-crore transformation of National Waterway-5
      and NW-64, which will connect Angul–Talcher with Kalinganagar, Paradip, and Dhamra,
      potentially reducing logistics costs by up to 30% and creating green cargo corridors for
      industry, MSMEs, and farmers. Mohanty also praised the rare-earth value chains, the
      ₹40,000-crore electronics mission, and Odisha’s rising allocation to ₹64,408 crore,
      positioning the state as a hub for EVs, renewables, defence, and semiconductors. He
      called for collaborative action among government, entrepreneurs, workers, academia,
      start-ups, ports, and communities to build AI-enabled manufacturing, resilient
      infrastructure, and inclusive livelihoods.
      Nakul Shaerdalal, Chairman, IPR Committee, ASSOCHAM Gujarat Council, focused on
      the Budget’s support for innovation, stating it backs “minds, machines, and IP of
      tomorrow’s India” through nurturing AI, strengthening semiconductors, and building
      sovereign IP, positioning India as a global deep tech leader.
      Dr. Sanjay Rajpal, General Manager, Ypsomed India Pvt. Ltd., welcomed the long-term
      healthcare vision, including BioPharma Shakti, strengthening CDSCO, and expanding
      1,000 clinical trial sites to foster a robust, innovation-driven, patient-centric ecosystem
      that improves regulatory trust, accelerates research, and ensures faster access to
      therapies.

CA Himanshu Goyal, Senior Member, ASSOCHAM Rajasthan State Development
Council & Managing Partner, RNGCA Business Consulting Pvt Ltd, viewed India at a
rare inflection point, crediting the demographic dividend, resilient financial system, and
reform momentum. He appreciated the emphasis on manufacturing, MSMEs,
infrastructure, and skilling as a long-term vision, urging industry to uphold governance,
ethics, and competitiveness for a true developed economy.
Mr. Partha P Chatterjee, Co Chairman, ASSOCHAM Energy Council, West Bengal,
highlighted the path to Aatmanirbharata through the ₹10,000-crore SME Growth Fund,
revival of 200 legacy industrial clusters, and renewable energy pushes like expanding
PM Surya Ghar, incentives for Battery Energy Storage Systems (BESS), and Critical
Mineral Corridors, architecting India’s transition to self-reliant manufacturing and clean
energy.
Mr. Mannu Choudhary, Co Chairman, Logistics Council, West Bengal, noted strong
support for logistics via investments in container manufacturing, multimodal
connectivity (railways, national waterways, coastal shipping), technology-driven
customs reforms, enhanced AEO facilitation, AI-based port scanning, and trust-based
compliance to cut costs and boost trade efficiency.
Nishant Arya, Chairman, National Council on Green Mobility, ASSOCHAM (and Vice
Chairman, JBM Group), celebrated the boost for tech and green ambitions, including
₹40,000 crore for Semiconductor Mission 2.0, rare earth corridors, reduced customs
duty on lithium-ion imports, and 4,000 e-buses for decarbonizing Northeast India.
Mr. Alok Tibrewal, Chairman, ASSOCHAM School Education, West Bengal, pointed to a
strategic shift in education from enrolment to employability, with boosts to the Orange
Economy via 1,500 AVGC labs in schools and 500 in colleges, girls’ hostels in every
district for better STEM participation, and specialized training in healthcare, Ayurveda,
and digital creativity aligning with NEP 2020. He noted concern over education spending
still below the 6% GDP target.
Overall, ASSOCHAM leaders see the Budget as a catalyst for deep tech leadership,
green mobility, resilient supply chains, reduced logistics costs, and inclusive skilling,
urging coordinated execution to realize its full potential for sustainable, competitive
growth. These reactions reflect ASSOCHAM’s consistent advocacy for industry
priorities now reflected in policy.