Jamshedpur: S. K. Behera, Vice Chairman of RSB Global and former Chairman of CII Eastern Zone, on Sunday described the Union Budget 2026–27 as a transformative and reform-driven blueprint that positions India for global manufacturing leadership while unlocking the industrial potential of the eastern region.
Reacting to the budget presented by Finance Minister Nirmala Sitharaman, Behera said the proposals mark a decisive shift in India’s manufacturing journey from participation to dominance amid changing global trade dynamics. He noted that the record capital expenditure of ₹12.2 lakh crore reflects a strong commitment to long-term competitiveness, particularly for the automotive and engineering sectors.
According to Behera, the budget effectively strengthens the three pillars of modern manufacturing—connectivity, technology and liquidity. He highlighted that the automotive sector, currently navigating the twin challenges of technological sovereignty and clean mobility, stands to benefit significantly from the announcements.
He welcomed the full exemption of Basic Customs Duty on 25 critical minerals, including lithium, cobalt and copper, calling it a major boost to India’s electric vehicle ecosystem. The inclusion of 35 capital goods for EV battery manufacturing under duty exemption, he said, would accelerate the emergence of globally competitive, Made-in-India battery solutions. Behera also termed the phased blending mandate of Compressed Bio-Gas into CNG for transport as a visionary step towards a circular economy and reduced fuel imports.
Emphasising the importance of MSMEs in the auto-component supply chain, Behera said the ₹10,000-crore SME Growth Fund and the doubling of the Electronic Component Manufacturing Scheme outlay to ₹40,000 crore would provide much-needed risk capital for smaller enterprises to upgrade to global standards.
