Budget 2026: Industry Leaders Demand Retail, Green Energy, AI Reforms

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AuthorAnanya Iyer|Published at:
Budget 2026: Industry Leaders Demand Retail, Green Energy, AI Reforms
Overview

Industry leaders are urging the Union Budget 2026 to prioritize regulatory clarity, innovation incentives, and compliance simplification across key sectors. Demands span streamlined retail policies, accelerated green energy and e-mobility investments, responsible AI deployment, and regulatory frameworks for digital assets, aiming to shape India's economic future.

Budget 2026 Expectations: Industry Pins Hopes on Key Sectors

As India gears up for the Union Budget 2026, businesses are calling for a strategic focus on growth, simplified compliance, and innovation. Leaders across retail, green energy, artificial intelligence, and digital assets are presenting a unified front, seeking policies that will steer the nation's economic trajectory for the coming decade.

Retail Sector Reforms

Shivendra Nigam, CFO of Cantabil, advocates for a unified Retail Policy to enhance the ease of doing business. He highlighted that retail contributes nearly 10% to India's GDP, serving 1.5 billion people. A cohesive framework, he stated, is essential for both established and emerging brands to operate efficiently.

Ayush Jhawar, CEO of Genefied, emphasized the integration of technology in retail, including AI-driven loyalty programs and real-time supply chain tracking. Tax incentives and R&D funding were cited as crucial elements to enable brands to leverage data effectively and scale customer interactions.

Accelerating Green Energy and E-Mobility

Faruk G. Patel, founder of KP Group, noted India's significant progress in renewable energy, with nearly 50 GW added in 2025, pushing non-fossil fuel capacity to 262-263 GW towards the 500 GW target by 2030. He called for intensified support for hybrid energy, storage solutions, and green hydrogen manufacturing.

Anurag Choudhary, CMD of Himadri Specialty Chemical, stressed the need for increased R&D funding in e-mobility, particularly for advanced battery materials and energy storage. He pointed to the success of initiatives like FAME and PLI schemes, suggesting targeted fund disbursement could propel the sector forward.

Fostering AI and Digital Infrastructure

Sanjay Sehgal, Founder and CEO of Aziro, urged that AI development in India should drive inclusive growth. This requires investment in R&D, digital infrastructure, and workforce skilling, with particular support for MSMEs and the establishment of ethical AI frameworks through industry-academia collaboration.

Deepening Capital Markets and Housing

Manan Lahoty, Partner at Cyril Amarchand Mangaldas, proposed reforms to the Indian Depository Receipt (IDR) framework to attract foreign issuers. Such changes, he argued, could introduce new investment products and solidify India's position as an international financial center.

For the real estate sector, Samarth Setia, Founder of Rezio.ai, requested measures to reduce approval delays and hidden costs. Time-bound single-window clearances and stamp duty rationalization were highlighted as ways to mitigate the "time tax" on housing prices, alongside incentives for mid-income buyers.

Investing in Education, Healthcare, and Resilience

Gitesh Gupta, CEO of Aimlay, emphasized the need for higher education reforms and research support, aligning with the National Education Policy 2020. Investment in research infrastructure and scholarships aims to transform India into a knowledge hub.

Seema Pai, President of the Indian Society for Clinical Research, called for AI-enabled clinical trials and digital health tools. Streamlined regulations and public-private partnerships are seen as key to positioning India as a global leader in ethical clinical research.

Ankur Indrakush, MD of Plutas AI, highlighted the importance of parametric climate insurance for immediate livelihood protection, urging budget support for pilots and fiscal incentives to build climate resilience.

Regulating Digital Assets

Abhay Agarwal, Founder of Getbit, noted India's rapid growth in the crypto ecosystem with over 100 million users. He advocated for a dedicated Crypto Bill, SEBI alignment, and tax rationalization to foster compliant digital finance and retain capital within India.

Industry leaders are united in their call for policy clarity and targeted incentives to unlock India's potential in green and digital transitions.

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