The Union Budget 2026‑27 lays a strong emphasis on revitalizing India’s industrial and manufacturing sectors, aiming to strengthen both legacy industries and emerging high-potential sectors. Finance Minister Nirmala Sitharaman announced significant measures to empower MSMEs (Micro, Small, and Medium Enterprises) through targeted capital, simplified compliance, and professional support, creating a “champion ecosystem” for economic growth. A ₹10,000 crore BioPharma Fund has been proposed to position India as a global hub for biologics, addressing rising health challenges like diabetes, cancer, and autoimmune diseases. The budget also focuses on semiconductors and electronics, expanding the ISM 2.0 initiative and increasing domestic manufacturing with a ₹40,000 crore allocation, ensuring India’s technological self-reliance. In the chemicals and rare-earth sectors, the government plans dedicated corridors, cluster-based chemical parks, and high-tech tool rooms to reduce import dependence and enhance domestic production. The construction and infrastructure equipment sector will see local manufacturing of high-end tools, metro tunneling machines, and fire-fighting equipment. For the textile sector, a Mega Textile Park, National Fiber Scheme, and Integrated Employment Programs are proposed, alongside initiatives like Samarth 2.0 and Mahatma Gandhi Gram Swaraj Initiative, aimed at global branding, skill development, and market access for artisans and small-scale producers. Legacy industries will be upgraded through 200 legacy clusters, fostering productivity, innovation, and skill enhancement.
Breaking News: Budget 2026 Empowers MSMEs, BioPharma & Semiconductor Growth