New Delhi: Welcoming the Union Budget 2026-27 presented by India’s Finance Minister Nirmala Sitharaman on Sunday, business groups from the United States and Singapore have said that it reflects the country’s focus on sustained growth, reforms and stronger global economic partnerships.
The US-India Business Council (USIBC) and the Singapore Indian Chamber of Commerce and Industry (SICCI) shared similar opinion, saying the budget opens up new opportunities for deeper trade, investment and technology collaboration.
President of the USIBC, former Ambassador Atul Keshap, issued a statement and said Union Budget 2026-27 underscores the Government of India’s continued focus on economic growth, resilience, and global competitiveness. “At a time of continued geopolitical uncertainties, the budget reflects India’s ambition to sustain momentum as one of the world’s fastest-growing major economies and a critical partner for the United States in the Indo-Pacific,” USIBC stated in a post on X.
“We welcome the government’s emphasis on sustained growth of around seven percent, fiscal prudence, and a strong thrust on public investment. These macro priorities, alongside pillars such as strengthening the foundations of growth and trust-based governance, are central to strengthening India’s long-term growth fundamentals and deepening bilateral commercial ties between the world’s two largest democracies,” Keshap said.
USIBC mentioned that it encourages the government to accelerate reforms in taxation, ease of doing business, trade facilitation, and regulatory predictability to further enhance investor confidence and unlock higher levels of foreign investment.
Further, it said, “USIBC welcomes the Government of India’s focus on frontier technologies through initiatives such as India Semiconductor Mission 2.0, including its emphasis on equipment and materials, full-stack design, Indian IP, and resilient supply chains, as well as industry-led research and training. We also welcome the AI Mission, National Research Mission, Innovation Fund, and the National Quantum Mission, which underscore India’s ambition in next-generation technologies.”
USIBC also commended the government’s policies to provide “stronger boost to its strategic sectors” by providing tax holidays until 2047 for foreign cloud service providers having data centres in India and various initiatives in the Tourism Sector including establishment of Five Hubs for Medical Value Tourism. At the same time, it has encouraged further clarity on implementation and private-sector participation to maximize impact and investor interest.
