Union Budget 2026-27 is growth-oriented, says CII-Southern Region deputy chairman

P. Ravichandran, deputy chairman, Confederation of Indian Industry (CII)-Southern Region, and president of Danfoss India, on Sunday (February 1, 2026), said that if the Union Budget for 2026-27, presented by Finance Minister Nirmala Sitharaman, could be described in one word, it would be “growth.” The Budget has spelled out ways to accelerate growth, he said in a press conference organised by the CII-Southern Region in Chennai.

There has been a focus on infrastructure for the past three to four years and some of the announcements made in the Union Budget, such as the high-speed railway corridor, freight corridor, and waterways, among others, would boost connectivity, he said. “Infrastructure will also help in generating employment as well as growth,” he added.

As for industrial growth, the Union Budget has strategic focus in seven sectors, he pointed out. “They [the Union government] have launched a Semiconductor Mission 2.0, under which efforts are being taken towards manufacturing various components for consumer electronics and defence electronics.”

C.K. Ranganathan, past chairman, CII-Southern Region and chairman and managing director of CavinKare Pvt. Ltd., said that there has been a focus on the textile industry in the Union Budget. “Special importance has been given to the value-added textile industry,” he said, and added that it would help States such as Tamil Nadu and others where textile industries are located.

Mr. Ranganathan also welcomed the announcement proposing a scheme for container manufacturing and high-speed rail corridors, among others. The Union Budget would help in a manufacturing revival, he said.

A.R. Unnikrishnan, chairman, CII-Tamil Nadu State Council, and managing director, Glass & Glass Solutions, Saint-Gobain India Pvt. Ltd., termed the Union Budget for 2026-27 “foundational and long-term-oriented.” He added: “With sustained effort and consistent investment, we can make a big difference over a period of time. We may not see immediate results in the current financial year but over a period of time, we can have good results.”

As far as Tamil Nadu is concerned, Mr. Unnikrishnan said that the State could benefit from some of the announcements, such as in infrastructure. “The future of India’s growth is going to be Tier-II and III cities,” he contended and said that Tamil Nadu has some of them, which would benefit from the thrust on that front.

Stating that he was happy to see that there would be a girls’ hostel in every district, Mr. Unnikrishnan recalled the Tamil Nadu government’s Thozhi hostels, which he said have empowered girls and women. Referring to design education, he said that Tamil Nadu has been at the forefront.