USIBC, SICCI Welcome Budget 2026, Highlight US-India Ties

• US and Singapore business groups welcomed Budget 2026–27 for its growth and reform focus
• Praised steps to ease business, support strategic sectors, and boost energy and healthcare
• Expected to deepen India’s trade, investment, and technology partnerships globally

The Union Budget 2026-27 which Finance Minister Nirmala Sitharaman presented has received support from business groups in both the United States and Singapore because they believe its content demonstrates India's dedication to continuous economic development and to implementing fundamental reforms and building stronger worldwide economic ties.

The US-India Business Council and the Singapore Indian Chamber of Commerce and Industry stated that the Budget opens new pathways for businesses to increase their commercial activities and their financial backing and their research partnerships.

USIBC President Atul Keshap who formerly served as Ambassador to India explained that the Budget demonstrates India's dedication to building economic stability and maintaining its position in the global market.

In a post on X, USIBC stated, “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”.

"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.

The post added, “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”.

The council recommended that organizations should execute more tax reforms together with initiatives that improve business operations and trade processes and establish predictable regulatory frameworks to build investor trust which will result in increased international investment.

Also Read: Union Budget 2026-27 Focuses on Seven Strategic Sectors

The budget's focus on Manufacturing in Strategic and Frontier Sectors, including Electronics Components and Container Manufacturing is an important signal of India's intent to integrate more deeply into global value chains.

Initiatives related to dedicated Chemical Parks, Biopharma SHAKTI, and the scheme to revive 200 legacy industrial clusters have the potential to drive competitiveness, provided they are accompanied by policy certainty, streamlined approvals, and openness to global partnerships.

USIBC evaluated the security of strategic industries through its backing of tax holidays which benefit foreign cloud service providers who operate data centres in India and the establishment of medical value tourism hubs.

The organization received approval from the energy sector through its support of the ₹20,000 crore Carbon Capture Utilisation and Storage program which includes customs duty exemptions for lithium-ion cell manufacturing and rare earth magnets and nuclear power projects.

The Budget received positive feedback because it aimed to improve healthcare systems which included mental health services and cancer treatment facilities.

The US-India Strategic Partnership Forum identified three key areas which the Budget supports through trade facilitation and customs modernisation and banking reforms to strengthen India's status as a worldwide investment center.

The Budget demonstrates India's infrastructure development and digitalisation efforts and innovation capacity through fiscal discipline while creating new manufacturing, MSME and green transition and technology-based productivity links between India and Singapore.