This post was originally published on The Economic Times
Finance Minister Nirmala Sitharaman’s ninth consecutive Union Budget seeks to convert demographic strength, geopolitical shifts, and domestic capability into long-term national advantage. It continues the momentum for Manufacturing in India for the world, supporting the micro, small, and medium enterprises (MSMEs) in the country to scale up and dealing with the geoeconomics by sustaining growth, empowering citizens through capability building, and ensuring that development is broad-based and inclusive.
This year’s Budget arrives at a moment of global flux. Trade realignments, tariff uncertainties, and the reconfiguration of supply chains have reshaped the global economic landscape. As countries turn inward and protectionism resurfaces in the forms of export controls by various economic powers, India’s response is notably outward-looking. Rather than retreat, the Union Budget 2026-27 doubles down on manufacturing, exports, and competitiveness—reinforcing the idea of “Make in India for the World.” It reflects a belief that India’s growth story can be strengthened, not weakened, by global volatility, provided domestic foundations are robust.
Incentivising Manufacturing
Manufacturing emerges as the central pillar of this strategy. The government’s interventions
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