Budget 2026 Expectations Live: Pharma industry seeks R&D sops, simplification of regulatory framework in Budget

The government should look at offering globally competitive R&D incentives and fiscal support for clinical research to the domestic pharma industry in the upcoming Budget in order to help it transform into an innovation-led USD 130-billion sector by 2030, according to industry bodies. The policymakers should also consider GST structure rationalisation, restoration of weighted R&D deduction and simplification of compliance and regulatory framework in the upcoming Union Budget for the financial year 2026-27. "The industry seeks globally competitive R&D incentives that align with India's innovation ambitions, enhance the scientific ecosystem, and support the transition from a volume-driven model to an innovation-led pharmaceutical sector," Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain said in a statement. With a strong track record of resilience and innovation over six decades, the industry is poised to achieve its ambitious target of reaching USD 120–130 billion by 2030, and ultimately USD 450 billion by 2047, he noted. - PTI

Union Budget presentation scheduled for February 1 at 11 am, confirms Lok Sabha Speaker Om Birla

“As India embarks on a critical phase of its manufacturing and industrial evolution, the next leap will be driven by large-scale, repeatable automation deployments rather than isolated pilots. Policy consistency, enhanced industrial corridors and the continued thrust under Make in India have provided a solid base. Now the emphasis must turn to creating globally competitive manufacturing abilities which are driven by smart automation.

Software-led automation is increasingly becoming the driver of this evolution as it brings robotics, systems, and workflows together into a unified execution layer. Modular automation is being implemented in live brownfield settings to enhance throughput, consistency and operational reliability, as well as permit effective human-machine cooperation.

With Union Budget 2026 approaching, this momentum can be further fuelled by continued policy support of manufacturing-based R&D, wider automation, and greater indigenisation of hardware, software, and systems integration. With India shifting beyond automation deployment to automation IP design and ownership, smart factories and agile supply chains will characterize its leadership in the advanced manufacturing.” - Prateek Jain, Co-Founder & COO, Addverb

“India’s manufacturing journey is moving from automation adoption to automation depth. With investments in industrial automation estimated to grow from USD 19.71 billion in 2026 and the market projected to enlarge at a notably high pace in the forthcoming decade, the upcoming Union Budget can accelerate this by enabling the domestic manufacturing of advanced factory automation tools, including PLCs, industrial robots, cobots, and servo systems. The incentives in these segments can assist the Indian industry to go beyond fragmented automation to interconnected, data-based, and intelligent factory ecosystems that are consistent with global standards.

The reinforcement of high value engineering and innovation are also critical in India. Since Global Capability Centres are carrying out more core R&D, system design and advanced engineering, incentive policy assistance can support the anchoring of this industry in India, enhance involvement in global value chains and establish long-term technical capabilities.

From a sustainability standpoint, there should be focus on technologies that address air quality and energy efficiency across industries. The incentivisation of more advanced and energy-efficient technologies in air purification can provide quantifiable benefits in terms of cutting down the losses associated with pollution, enhancing the urban living conditions and supporting the overall climate commitments of India.” - Gurvinder Gandhi, CFO, Mitsubishi Electric India

"As India approaches the Education Budget 2026, Artificial Intelligence must move from the margins to the core of education policy and funding. Though access and digital adoption have increased, the next wave of reform must be AI-enabled learning outcomes, faculty upskilling, and curriculum modernisation. Strategic budgetary support is required to integrate AI across disciplines, not as a mere technical subject, but as a managerial, ethical, and decision-making tool that future leaders need to master. More significantly, investments in AI-driven research, simulation-based learning, and industry-academia collaboration will massively increase employability and innovation capacity. The other important aspect is funding in teacher training, data infrastructure, and responsible AI frameworks to ensure inclusive and ethical adoption. A forward-looking budget embedding AI into the education ecosystem will be critical in building globally competitive institutions and future-ready talent for India’s knowledge economy.” -- Dr Subir Verma, Director, FORE School of Management

As the Union Budget approaches, the healthcare sector will be looking closely at how policy continues to support the growing demand for consistent, high-quality and technology-enabled care. A balanced approach that reinforces healthcare infrastructure, technology adoption and supply-side resilience will be critical to strengthening the overall healthcare ecosystem in the years ahead. One of the critical areas to watch will be policy support for domestic manufacturing of advanced medical equipment. Today, a significant share of cutting-edge technology used in hospitals, from imaging systems to surgical platforms, continues to be imported from Western markets and China, even as clinical demand for these technologies is growing rapidly.

If similar equipment were manufactured at scale in India, costs could eventually be materially lower, much like what the automotive sector has demonstrated with domestic production of high-end vehicles. Beyond cost, local manufacturing would also strengthen supply reliability, enhance service support, and enable long-term technology adoption across hospitals.

Further policy incentives to accelerate domestic manufacturing would help build a more resilient medical technology ecosystem, while enabling wider and more affordable access to high-quality care over time - Vipul Jain, CEO - CK Birla Hospitals

The Budget Session traditionally begins with the President's address to a joint sitting of the Lok Sabha and Rajya Sabha. Like previous sessions, it will be held in two parts, with a recess to allow standing committees to examine demands for grants, and is expected to feature the introduction and discussion of multiple legislative proposals.

According to the schedule shared by the minister, the Budget Session will continue until April 2, 2026. The first phase will end on February 13, after which Parliament will reconvene on March 9.

Rijiju said President Droupadi Murmu has approved the government's recommendation to summon both Houses of Parliament for the 2026 Budget Session.

The Union Budget for 2026 is slated to be presented on February 1, which falls on a Sunday. The unusual timing had earlier triggered speculation about a possible change in the presentation date.

The Budget Session of Parliament will commence on January 28, Union Minister Kiren Rijiju announced in a post on X. The session marks the first parliamentary sitting of the 2026 calendar year.