The Union Budget 2026–27 has laid a strong foundation for India’s goal of becoming a developed nation, or “Viksit Bharat,” by the year 2047. The Budget focuses on key sectors such as agriculture, tourism, data centres, electronics, advanced manufacturing, and green energy to drive economic growth and create jobs.
Dr Vijay Kalantri, Chairperson of the World Trade Centre Mumbai and President of the All India Association of Industries, praised the Budget and said it supports long-term development. According to him, the government has taken important steps to strengthen India’s economy and make it more self-reliant.
He said the Budget promotes the idea of “Atmanirbharta,” or self-reliance, by encouraging domestic manufacturing. The government is offering incentives to boost production in advanced technology sectors, including electronics, biopharmaceuticals, container manufacturing, and construction materials.
Dr Kalantri also highlighted the focus on rare earth elements, which are important for producing high-tech products like electric vehicles, batteries, and electronics. By developing local sources and strengthening supply chains, India can reduce its dependence on imports and protect itself from global disruptions.
He added that investments in green energy and modern industries will help India compete globally while also supporting sustainable development. Sectors such as tourism and agriculture will create employment opportunities and benefit both rural and urban areas.
Overall, he said the Budget provides a clear roadmap for growth, innovation, and resilience, helping India move closer to its vision of becoming a strong and developed economy by 2047.