Baba Kalyani, the Chairman and Managing Director of Bharat Forge Ltd., praised the recent Union Budget 2026. He noted it showcases Prime Minister Modi’s steady and visionary leadership, marked by consistent policies and careful fiscal management.
Kalyani congratulated the Finance Minister on her ninth consecutive Budget, which aims to balance economic stability with growth through investment. He emphasized that the multi-faceted growth approach and the focus on three key priorities show a commitment to a competitive, inclusive, and future-ready economy.
Amid global uncertainties, Kalyani believes these measures will boost India’s economic resilience and send a strong message to both local and international investors. The Budget underscores the government’s emphasis on manufacturing. Investments in modern infrastructure, high-speed rail, healthcare, and urban development are crucial for growth. The Budget also promotes a semiconductor program, enhancing local supply chains, and highlights initiatives for carbon capture and decarbonization, aligning economic performance with sustainability.
Defense spending received significant attention, with a 25% increase in modernization budgets. This shift aims to enhance military capabilities and technology, encouraging self-reliance in the defense sector.
Moreover, Kalyani commended the focus on Information Technology Services, particularly for data centers and cloud services. A 22-year tax holiday for these investments could position India as a global leader in this field.
Additionally, the Budget’s emphasis on university-industry partnerships and AI innovation could help India make the most of its young workforce. Overall, Kalyani believes this Budget empowers industries to invest, innovate, and contribute to a competitive Indian economy.
In recent surveys, many investors expressed optimism about this Budget’s potential. A poll indicated that 68% of business leaders view it as favorable for long-term growth, reflecting a shared sense of confidence in the government’s strategic direction.
As we look at global trends, India’s focus on sustainable development and technological advancement mirrors priorities in other fast-developing economies. Such a strategy not only positions India for future success but also aligns with global shifts toward sustainability and innovation.
For more detailed insights into India’s economic strategy, read the latest economic report from the World Bank.
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