PARTHA ROY, KOLKATA: Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI), Indian Chamber of Commerce (ICC), and Calcutta Chamber of Commerce (CCC), have hailed the Union Budget 2026-27 as a forward-looking blueprint for growth, stability, and regional development.
CII praised the budget for outlining a confidence-building roadmap amid global uncertainties, emphasizing next-generation reforms, high growth, and macroeconomic stability. The chamber highlighted the fiscal deficit target of 4.3% of GDP for FY27, which aligns with prudent fiscal management and supports manufacturing. CII welcomed initiatives for MSME growth, such as the Rs 10,000 crore SME Growth Fund, expanded Self-Reliant India Fund, mandatory TReDS, enhanced credit guarantees, GeM-linked financing, and receivables securitization.
The budget’s focus on sustainability was noted, including three chemical parks, Biopharma Shakti with Rs 10,000 crore allocation, and Rs 20,000 crore for Carbon Capture Utilisation and Storage technologies. CII also appreciated efforts in sustainable logistics, integrated textiles programs, and the Orange Economy through expanded AVGC skilling and infrastructure.
A Rs 2.81 lakh crore allocation for railways was seen as bolstering infrastructure, capacity, and safety, with seven high-speed rail corridors enhancing connectivity. The Varanasi-Siliguri corridor was described as transformative for West Bengal and the East, boosting trade, tourism, and balanced growth. Additionally, a Rs 10,000 crore container manufacturing scheme over five years aims to strengthen supply chains.
Enhanced funding of Rs 5,164.8 crore for ports, shipping, and waterways supports maritime growth, while the Dankuni-Surat Dedicated Freight Corridor promotes sustainable cargo movement and industrial development in the East.
Shashwat Goenka, Chairman of CII Eastern Region and Vice Chairman of RP-Sanjiv Goenka Group, stated that the budget reaffirms policy stability, providing business confidence. He emphasized balanced regional development for Purvodaya states and the Northeast, with MSME support through liquidity, equity, and professional aid to create champions. Goenka noted the East Coast Industrial Corridor from Durgapur as strengthening eastern growth, alongside 4,000 e-buses for connectivity and sustainable mobility. He welcomed inclusive healthcare via NIMHANS II , regional trauma institutes, and development of Northeast Buddhist heritage sites for cultural preservation and tourism.
Mehul Mohanka, Deputy Chairman of CII Eastern Region highlighted emphasis on rare earth permanent magnets for mineral-rich states like Odisha, Kerala, and Andhra Pradesh, with rare earth corridors promoting mining and research. He called the Varanasi-Siliguri rail and Dankuni-Surat freight corridors game-changers for the East. Mohanka added that operationalizing 20 new national waterways will connect mineral areas like Talcher and Angul to Odisha ports, reducing logistics costs and promoting green transport. He praised the new National Institute of Design for the East as key to nurturing creative talent.
Chandrashekhar Ghosh of CII stated Union Budget strengthen all round development of Indian economy.
Prashant Bangur, Chair of FICCI West Bengal State Council, described the budget as a strong push for manufacturing-led growth, backed by Rs 12.2 lakh crore public capex. He noted infrastructure focus on logistics, corridors, and clusters to cut costs, enhance competitiveness, support MSMEs, reduce imports, and create youth jobs.
Parthiv Neotia, Sr. Vice President of ICC, called the budget very inclusive and focusing on emerging sectors like fisheries, semiconductors, AI, creative economy, hospitality, and tourism as pillars of India’s new landscape.
Anant Saharia, President of Calcutta Chamber of Commerce, stated that the budget will spur MSME growth, promote R&D investment, and boost exports.