From MSMEs To MNCs, Industry Flags Key Priorities For Budget 2026

New Delhi, Jan 24 (KNN) Ahead of the Union Budget 2026 on February 1, industry leaders have urged targeted reforms to drive growth, ease doing business, and address structural gaps, citing priorities such as women-led entrepreneurship, green finance, and GST reforms.

Women Entrepreneurs Seek Targeted Support

Although women-led firms make up nearly 20 percent of India's MSMEs, industry leaders say they continue to face major hurdles in accessing venture capital, bank credit, and investor support, reported ET.

Devita Saraf, Chairperson and CEO, The Vu Group, said women entrepreneurs face systemic funding challenges, from venture capital to bank loans. She suggested Budget 2026 could help through targeted tax incentives and measures to boost investor confidence and attract more capital.

Expanding Priority Sectors and Green Finance

PD Singh, CEO for India and South Asia, Standard Chartered, praised India's execution-focused approach and stable policies but called for an expanded definition of priority sectors to include green energy, EVs, and related R&D. He noted that private investment is occurring, though cautiously amid global overcapacity and geopolitical risks.

Singh emphasized the need for long-term policy certainty to draw international investment amid China's overcapacity and geopolitical risks. He also recommended leveraging Indian entrepreneurs' offshore IP to boost domestic manufacturing, reflecting a growing trend in global capital flows.

Call for Customs Reform and GST 3.0

MS Mani, Partner at Deloitte India, called for overhauling the Customs Act and advancing GST 3.0, including extending it to petroleum and real estate.

He said reforms would boost ease of doing business and global rankings.

Mani also stressed that tariffs should be calibrated to protect domestic industries without causing long-term distortions amid global trade disruptions.

Boosting Consumer Demand and Simplifying Policy

Mainak Dhar, MD, McCain Foods India, said sustainable growth relies on boosting consumer demand through affordability, innovation, and last-mile infrastructure, noting that lasting growth emerges once this demand is unlocked.

Santosh Iyer, MD & CEO of Mercedes-Benz India, highlighted three Budget priorities: strong execution, policy consistency, and simplification.

He said progress on past allocations and clear reforms, particularly on decarbonisation, would boost investor confidence, while simplifying customs, GST, and taxes would support India's USD 5 trillion economy goal.

(KNN Bureau)