Union Budget 2026–27: MSME & Manufacturing Sector Reactions

Industry leaders from the MSME and manufacturing sector have reacted positively to the Union Budget 2026–27, highlighting the government’s emphasis on reviving industrial clusters and improving access to growth capital. The proposed measures are being seen as a crucial step towards strengthening liquidity, encouraging capacity expansion and boosting confidence across the manufacturing value chain.

Jasraaj S Kalra, Managing Director, Noble Group

“Reviving 200 industrial clusters and setting up a ₹10,000 crore MSME growth fund is a very welcome signal for manufacturing. For many MSMEs in our ecosystem, equity support and day-to-day liquidity are serious bottlenecks.
If this fund translates into easier access to growth capital, especially for cluster-level suppliers, tool rooms and component makers, it will lift the entire value chain and give manufacturers a lot more confidence to invest in capacity and localisation.”