Finance minister Nirmala Sitharaman on Monday underscored the recently-unveiled Budget’s push for reforms across strategic sectors and policy predictability to enable private investors to firm up long-term plans and investment commitments.
Addressing board members of the US-India Strategic Partnership Forum (USISPF) in New Delhi, Sitharaman stressed the announcements made in the budget for 2026-27 to support semiconductors, electronic components manufacturing, bio-pharma, rare earth corridors, upgrade of legacy industry clusters, and focus on improving India’s manufacturing capacity.
She also highlighted the budget’s emphasis on small and medium enterprises, and the efforts to create champion medium enterprises, the finance ministry said in a post on microblogging site X late on Monday.
The meeting comes days after India and US announced the framework for a trade deal to offer each other preferential market access across a broad range of items.
“Participants acknowledged the policy efforts being made for supporting the reform momentum and appreciated the commitment towards fiscal discipline, especially in a context of heightened global uncertainty,” the ministry said.
Presenting the budget on February 1, Sitharaman had announced various customs and tax reforms. She also highlighted heightened focus on seven strategic areas, including healthcare, skills development, semiconductors, electronics manufacturing, logistics, and agriculture and allied services.
As part of these, she announced the India Semiconductor Mission 2.0 and a Rs 40,000 crore production linked incentive scheme for electronics. She also declared the government’s plan to set up a high-level panel to suggest ways to further bolster the services sector.
Addressing board members of the US-India Strategic Partnership Forum (USISPF) in New Delhi, Sitharaman stressed the announcements made in the budget for 2026-27 to support semiconductors, electronic components manufacturing, bio-pharma, rare earth corridors, upgrade of legacy industry clusters, and focus on improving India’s manufacturing capacity.
She also highlighted the budget’s emphasis on small and medium enterprises, and the efforts to create champion medium enterprises, the finance ministry said in a post on microblogging site X late on Monday.
The meeting comes days after India and US announced the framework for a trade deal to offer each other preferential market access across a broad range of items.
“Participants acknowledged the policy efforts being made for supporting the reform momentum and appreciated the commitment towards fiscal discipline, especially in a context of heightened global uncertainty,” the ministry said.
Presenting the budget on February 1, Sitharaman had announced various customs and tax reforms. She also highlighted heightened focus on seven strategic areas, including healthcare, skills development, semiconductors, electronics manufacturing, logistics, and agriculture and allied services.
As part of these, she announced the India Semiconductor Mission 2.0 and a Rs 40,000 crore production linked incentive scheme for electronics. She also declared the government’s plan to set up a high-level panel to suggest ways to further bolster the services sector.