As India prepares for Union Budget 2026, leaders across fashion, footwear, textiles, real estate, chemicals and tourism are calling for policy clarity, sustainability incentives and stronger infrastructure. Stakeholders view the Budget as a key opportunity to enable inclusive growth while strengthening India’s manufacturing and export ecosystem.
Below are pre-budget expectations shared by industry leaders.
VIRGIO: Strengthening Circular Fashion and Tech-Led Manufacturing
Balaji Kannan, Chief Financial Officer, VIRGIO
About the company:
VIRGIO is a direct-to-consumer fashion brand focused on circular fashion and technology-led innovation. Led by Mr. Amar Nagaram, Co-Founder and CEO (Ex-CEO Myntra), the company uses demand-driven production, trend mapping, predictive analytics and smart fabrics to reduce environmental impact while delivering accessible sustainable fashion.
Quote:
“As India’s vibrant D2C fashion ecosystem accelerates in FY26, Budget 2026 presents a pivotal opportunity to fuel sustainable consumption-led growth. Enhancing working capital access through MSME schemes, amplified PLI 2.0 allocations for textiles to supercharge tech adoption and zero-waste manufacturing coupled with cotton import duty exemptions and PM MITRA Park fast-tracking – these measures will empower homegrown brands to compete globally while boosting jobs and exports—aligning perfectly with Viksit Bharat’s vision.”
— Balaji Kannan, Chief Financial Officer, VIRGIO
Chupps: Policy Stability and Quality-Led Manufacturing
Yashesh Mukhi, Founder, Chupps
Chupps highlights the need to strengthen domestic manufacturing ecosystems, particularly for digitally native brands focused on responsibility and quality.
Quote:
“As India looks ahead to Budget 2026, the real opportunity lies in strengthening the foundations of consumer manufacturing rather than relying on short-term incentives. The previous Budget set a clear direction through its focus on domestic manufacturing, MSME support, and local value chains, especially for brands building at scale with an emphasis on quality and responsibility.
Footwear sits at the intersection of fashion, mobility, and daily utility, yet it remains under-represented in sustainability and MSME policy conversations. Targeted support for material R&D, easier access to compliant manufacturing infrastructure, and simplified regulations for responsible production can significantly improve global competitiveness while reducing environmental impact. For digitally native brands that own both product and consumer relationships, policy stability and manufacturing-led support matter far more than short-term cost reliefs.
Sustainability must also be viewed through the lens of longevity. Products designed for repeat use and durability deliver far greater environmental and economic value than fast replacement cycles. If Budget 2026 rewards quality-led manufacturing and innovation, it can help shift the industry from volume-led growth to value-led growth, where scale, responsibility, and credibility grow together.”
— Yashesh Mukhi, Founder, Chupps
Real Estate: Clarity for Sustainable Urban Redevelopment
Mrs. Ankita Luharuka, CEO, Alliance City Developers
Alliance City Developers stresses the need for transparency, sustainability-linked incentives and structured financial frameworks in redevelopment.
Quote:
“Budgets play a critical role in shaping how cities evolve. For developers who works closely with redevelopment communities, clarity around approval processes, sustainability-linked incentives, and disciplined financial frameworks can go a long way in easing the transition from ageing housing to safer, more livable urban homes. A Budget that reinforces transparency and long-term planning does not just support the real estate sector—it directly improves outcomes for residents who place long-term trust in the redevelopment process.”
— Mrs. Ankita Luharuka, CEO, Alliance City Developers
Additional Real Estate Leaders
Mr. Vikas Bhasin, MD, Saya Group:
“We hope Budget 2026 continues prioritizing reforms that uplift citizens’ lives through a stronger real estate sector. Measures supporting home ownership, infrastructure connectivity, CLSS expansion, and GST/stamp duty rationalization would improve affordability, enhance purchasing power, and provide long-term stability.”
Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global:
“Sustained policy support, fiscal incentives, and financing measures will strengthen buyer confidence and maintain growth momentum. Expanding affordable housing definitions and granting industry status can unlock growth, support sustainable development, and reinforce India’s broader economic goals.”
Mr. Ashok Kapur, Chairman, Krishna Group & Krisumi Corporation:
“We expect continued focus on infrastructure, policy stability, and regulatory clarity, along with incentives for green and eco-friendly housing, to accelerate responsible urban development and ensure premium residential projects meet evolving buyer expectations.”
Nautika: Boosting Island Tourism and Maritime Infrastructure
Anoop Kumar, Founder & Director, Nautika
Nautika outlines expectations for tourism and maritime services, with emphasis on island destinations and sustainable maritime growth.
Quote:
“As an industry we’re expecting that the government adds more facilities so that people visit touristy destinations like islands more in 2026. The company supports laws that make it easier to get permits for high-end services and improve shipping infrastructure. Better ports, eco-friendly ship technology and easy movement between islands would not only aid tourists and operators but they would also help the economy grow and create jobs in the area. More than 2.5 million passengers are served each year and the industry is growing quickly. Rules and incentives that promote modern maritime services will help open up new tourism potential. Nautika thinks that the Budget indicates that India is serious about making travel better, making connections better and growing tourism in a way that is good for the environment.”
— Anoop Kumar, Founder & Director, Nautika
Textile and Apparel Sector: Strengthening Global Competitiveness
Mr. Sanjay Jain, Group CEO, PDS Limited:
“The textile and apparel sector seeks measures to strengthen resilience and global competitiveness. With recent trade disruptions and elevated tariffs, targeted fiscal support, timely execution of PM MITRA parks, and productivity-linked skilling are critical to safeguarding jobs, sustaining exports, and building a globally competitive ecosystem.”
Mr. Sanjay Gandhi, Group CFO, Pearl Global Industries:
“Policies strengthening India’s competitiveness in global apparel trade, progress on UK-India and EU-India FTAs, support for integrated textile infrastructure, and PM MITRA initiatives will enable exporters to scale, invest, and capture global opportunities.”
Chemicals and Specialty Dyes: Enabling Green Industrial Growth
Mr. Mihir V Shah, Executive Director, Vipul Organics Limited:
“Continued investments in chemical parks, faster environmental approvals, improved logistics, and long-term capital access will strengthen India’s chemical and dyes sector. Encouraging domestic production, R&D, and green chemistry will enhance exports, skilled employment, and India’s global reliability as a manufacturing partner.”
Industry Outlook
Collectively, these expectations highlight:
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Long-term policy clarity and stability
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Sustainability-driven incentives and green initiatives
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MSME support and quality-led manufacturing
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Infrastructure upgrades and PM MITRA park execution
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Skilling and workforce development for global competitiveness
As Union Budget 2026 approaches, industry leaders are urging measures that enable resilient, responsible and globally competitive growth across sectors.
