Mumbai/Goa: The 2026-27 Budget has generated much optimism among people about maximum positive benefits flowing towards India’s various sectors including textiles, medical tourism, biopharma manufacturing, containers and hi-speed rail corridors.
Vijay Kalantri, Chairman, World Trade Centre, Mumbai and President of the All India Association of Industries, had recently described the latest US-India trade deal – reducing reciprocal tariff rate to 18% while also removing the 25% tariff owing to Russian crude oil purchases — as a ”strategic milestone” strengthening one of the most consequential economic partnerships of the 21st century.
“With this thaw in the US-India trade relationship, prima facie any agreement for a trade deal – including this one when complemented with the Union Budget 2026-27 offering a window of opportunity for the country — will be beneficial for MSMEs and startups, enabling them to integrate more effectively into global value chains, access advanced technologies and expand their presence in international markets.”
“The goal of doubling trade to $500 billion will complement India’s efforts to make export an “engine of growth” to achieve the status of $10 trillion economy by 2030,” Kalantri said.
The Rs 10,000 crore MSME growth fund would ensure their move from survival to growth, while the Rs 1.17 lakh crores for semiconductor manufacture would make India self-reliant in this sector instead of importing from China, noted tax consultant Lee Ferrao.
The Government announced a Rs 10,000-crore scheme over a 5-year period for local “container” manufacturing, which would thus stop dependence on such imports from China, besides medical tourism being boosted through the Government setting up 5 such hubs and training 1.5 lakh caregivers, alongside a biopharma manufacturing hub comprising three national institutes being set up with Rs 10,000 crores, he said while highlighting the budget at a WTC Goa gathering.
“The 2026/27 budget has spurred the WTC Goa to highlight formation of a +think tank+ comprising small business, startups and progressive individuals in accelerating the engine of growth in various ways possible,” said Cyril Desouza, Regional Director – Trade Promotion, WTC Goa.
Desouza also highlighted the fact the WTC Goa was recently awarded a prestigious accreditation Certificate by the World Trade Centers Association based in New York, which places WTC Goa among leading World Trade Centers worldwide that demonstrate excellence in delivering impactful international trade facilitation services.
