Indian business executives based in the United Arab Emirates have expressed widespread approval of India’s Budget 2026, praising its strategic focus on sustained economic growth, technological advancement, and enhanced non-resident Indian (NRI) participation. The fiscal plan, presented by Finance Minister Nirmala Sitharaman, has been characterized as a balanced approach that maintains fiscal discipline while accelerating infrastructure development and digital transformation.
Prominent business figures highlighted several key initiatives that signal India’s ambition to emerge as a global manufacturing and technology leader. Yusuff Ali MA, Chairman of LuLu Group International, noted that the budget’s emphasis on artificial intelligence, micro, small and medium enterprises (MSMEs), and infrastructure development reinforces India’s position as an emerging economic powerhouse. The easing of Portfolio Investment Scheme rules and increased foreign holding limits were particularly welcomed as measures that would encourage greater NRI investment in India’s growth story.
Healthcare sector leaders including Dr. Azad Moopen, Founder of Aster DM Healthcare, applauded the budget’s healthcare roadmap, which includes the Biopharma Shakti initiative and customs duty exemptions on critical cancer drugs. The expansion of medical infrastructure through new AIIMS facilities and district hospital upgrades is expected to strengthen India’s healthcare ecosystem and position the country as a global medical hub.
Financial experts noted the budget’s careful balancing act between growth stimulation and fiscal responsibility. Siddharth Balachandran, Chairman of the Indian Business and Professional Council, observed that while the securities transaction tax hike on derivatives might be challenging, it was a necessary measure. The budget’s recognition of AI and deep technologies at the macroeconomic level was widely praised as timely and strategic.
Several business leaders emphasized the importance of execution following the budget’s announcement. Thumbay Moideen, Founder President of Thumbay Group, stressed that implementation at scale would be crucial for realizing the budget’s vision. The budget’s focus on public-private partnership models was seen as instrumental in building a self-sustaining and resilient Indian economy aligned with the ‘Viksit Bharat 2047’ vision.
While overall reception was positive, some executives noted areas for potential enhancement. Adeeb Ahamed, Managing Director of LuLu Financial Holdings, suggested that clearer financial services reforms and a more integrated tourism strategy could have further strengthened the medium-term outlook. Similarly, Anuj Puri of Anarock Group noted the absence of direct affordable housing incentives as a missed opportunity for inclusive urban development.