As the Union Budget 2026 approaches, industry leaders across tourism, clean energy, manufacturing, personal care, cybersecurity, financial services, automotive and healthcare sectors are calling for targeted policy support, execution-led reforms and stronger focus on skills, sustainability and efficiency.
In the tourism and hospitality sector, stakeholders view the Budget as an opportunity to strengthen India’s position as a global travel destination. Rajan Bahadur, CEO of the Tourism & Hospitality Skill Council (THSC), said greater attention is needed on tourism infrastructure such as last-mile connectivity, destination development and digital platforms to improve visitor experience. He also stressed the importance of continued investment in skill development, particularly for frontline workers, women, youth and gig workers, noting that industry-linked training and public–private collaboration will be essential as technology and AI reshape job roles.
From the clean mobility and energy transition space, Harry Bajaj, Founder and CEO of Mobec Innovation, said the upcoming Budget should consider forward-looking incentives for battery recycling, as early electric vehicles begin reaching end-of-life. He highlighted the need for sustainable recycling and repurposing of batteries containing lithium, cobalt, nickel and rare earth minerals to prevent environmental risks, and called for similar policy support for battery energy storage systems in line with India’s net-zero goals.
Manufacturing leaders are emphasising efficiency and sustainability alongside infrastructure creation. Somen Bajpai, CEO of Aay Bee Engineers Ltd., said smart incentives for energy-efficient pumping systems, modernisation of legacy infrastructure and stronger support for MSME-led indigenous manufacturing could help reduce operating costs, conserve water resources and improve long-term productivity across agriculture, construction and water sectors.
In the personal care and hygiene segment, Mahesh Ravaria, Executive Director of Beauty Garage Limited, said the sector is poised for growth and the Budget could help transform it through focused incentives. He pointed to the need for infrastructure and supply chain improvements, rationalised customs duties on critical inputs and correction of the inverted GST duty structure to enable MSMEs to scale operations, invest in R&D and expand globally under the ‘Make in India’ initiative.
With AI adoption accelerating across sectors, cybersecurity leaders are urging policymakers to address emerging risks. Pankaj Thapa, Co-Founder and CEO of Mirror Security, said Budget 2026 presents an opportunity to prioritise AI security alongside deployment. He called for stronger focus on protecting AI agents, continuous stress-testing of systems and embedding privacy-preserving technologies across the AI lifecycle, adding that AI security should become a foundational element of India’s digital and national security strategy.
In financial services, NBFCs are seeking relief from long-standing operational frictions. Akshay Sarma, CFO at axio, said expectations include allowing loss carry-forward in genuine internal restructurings, rationalising ESOP taxation by deferring tax to the point of sale, and extending parity under Section 194A by exempting NBFCs from TDS on interest to ease compliance and improve credit flow to MSMEs.
The automotive and auto ancillary sector is looking for policy continuity and support for domestic manufacturing. Sidhartha Khurana, Managing Director of STUDDS Accessories Ltd., said sustained focus on infrastructure development, localisation, skill upgradation and ease of operations will be critical to maintaining growth momentum and enhancing global competitiveness.
Healthcare stakeholders are also seeking a more preventive and inclusive approach, with calls for stronger focus on non-communicable disease prevention, affordable medicines and diagnostics, mental health, women’s healthcare, emergency care systems and deeper integration of digital health platforms.
Overall, industry expectations from Union Budget 2026 reflect a push for continuity, execution-focused policymaking and sector-specific interventions aimed at supporting sustainable and inclusive growth.
