New Delhi : Deepak Maini, Chairman of the Progressive Federation of Trade and Industry (PFTI), said that the Union Budget 2026-27 is a good budget for the industry. It signals India’s progress towards a developed India. He said that the defense budget has been increased by 21%, with an increase of approximately ₹100,000 crore, and emphasis has been placed on defense modernization. This will strengthen India’s defense-related industries and allow for greater integration of MSME units into the defense industry.
Mr. Maini was giving his reaction today to the Union Budget 2026-27 presented by Union Finance Minister Nirmala Sitharaman in the Lok Sabha. Pointing to the key aspects of the budget, he said that the first major highlight of this budget is the significant boost to manufacturing and Make in India, with the budget for electronics and mobile component manufacturing increased to ₹40,000 crore. He said that this will increase domestic production, reduce imports, and strengthen India’s position in the global supply chain. The Semiconductor Mission ISM 2.0 will give new momentum to the chip industry.
He said that importantly, MSMEs and small industries will receive direct relief through the Self-Reliant India Fund, which will provide capital to micro and small enterprises. The transaction settlement program and credit guarantee support will reduce liquidity crunch. Linking the GeM portal to trade will provide MSMEs with more opportunities in government procurement.
Discussing the major announcements of the budget, PFTI Chairman Deepak Maini said that a record investment in infrastructure has been announced in this budget. He said that the Finance Minister has allocated ₹12.2 lakh crore for capital expenditure in 2026-27. This will directly benefit the cement, steel, construction, engineering, and logistics sectors. The allocation of ₹11.2 lakh crore for the development of Tier 2 and Tier 3 cities will open new avenues for industrial expansion. He said that the announcements made in the budget will improve logistics and connectivity, and the 7 high-speed rail corridors and dedicated freight corridors will make freight transport faster and cheaper. This will reduce costs for the export industry, manufacturing units, and the e-commerce sector.
He added that a significant aspect is that the textile and traditional industries will receive a new lease on life. According to him, the mega textile parks, the National Fibre Scheme, and the Handloom Policy will boost both job creation and exports, while the textile hubs will benefit MSME-based industries at the cluster level.
Discussing the strategic announcements made in the budget, Mr. Maini said that the Union Budget for 2026-27 will strengthen the pharma and biotech sectors. An investment of ₹10,000 crore has been announced under the Bio-Pharma Shakti scheme. New research institutes, a clinical trial network, and the WHO Traditional Medicine Centre will enable the global expansion of the pharma and AYUSH industries.
Mr. Maini described the budget’s announcements regarding skilling and professional support as far-sighted. Short-term modular courses and training in Tier 2 and 3 cities will provide industries with skilled manpower. He said that this will increase companies’ productivity and reduce costs.