Budget 2026 builds confidence but defence misses spotlight: Anant Goenka, President , FICCI

Industry leaders have welcomed the Union Budget 2026 for maintaining policy continuity amid global uncertainty. Speaking to ET Digital, Anant Goenka, President of FICCI and Vice Chairman of RPG Group, said the budget strikes a balance between growth, inclusivity and future-focused reforms. Goenka highlighted controlled inflation, low NPAs, stable government policy and sustained infrastructure investment as key confidence boosters for Indian industry. He said continued focus on infrastructure, manufacturing, MSMEs, data centres, AI, semiconductors and biopharma will help reduce costs and improve competitiveness. However, he flagged defence capital expenditure and R&D as an area where industry expected stronger signals, especially amid changing global warfare dynamics. According to Goenka, Budget 2026 may not deliver “big-bang announcements” but offers predictability and execution focus critical for long-term investment and growth.