Union Finance Minister Nirmala Sitharaman presented India’s 80th Union Budget in Parliament today, marking her ninth consecutive budget.

The Government has laid out a comprehensive strategy to secure India’s long-term energy future, accelerate the renewable energy transition, and strengthen domestic manufacturing across power and clean-tech sectors. Budget 2026-27 introduces major fiscal measures and ambitious schemes to reduce critical import dependence and build a resilient, sustainable energy ecosystem aligned with the goal of a Viksit Bharat.

In energy-sector announcements, the Finance Minister unveiled an INR 20,000 crore scheme for Carbon Capture, Utilisation and Storage (CCUS). The programme targets emissions from hard-to-abate industrial sectors, ensuring that high economic growth remains compatible with India’s climate commitments.

To boost domestic renewable manufacturing and cut import reliance, the Budget proposes key customs duty exemptions. These include extending duty exemptions on capital goods used for manufacturing lithium-ion cells to those used for Battery Energy Storage Systems (BESS), encouraging large-scale grid storage manufacturing in India.

The Budget also exempts Basic Customs Duty (BCD) on Sodium Antimonate, a critical raw material for solar glass manufacturing, lowering costs for domestic solar module producers. Further, BCD exemption on capital goods for processing critical minerals aims to build domestic refining capacity for lithium, cobalt and rare earths used in EVs, wind turbines and clean technologies.

For stable baseload clean power, the Budget extends BCD exemptions for nuclear power project imports until 2035 and expands coverage to all nuclear plants, irrespective of capacity, supporting deployment of newer reactor technologies.

In support of cleaner fossil alternatives, the entire value of biogas will be excluded from Central Excise duty on biogas-blended CNG, incentivising blending, waste-to-energy projects and lower transport emissions.

A major institutional reform includes restructuring Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to improve operational efficiency, risk management and financing capacity for large-scale power and renewable infrastructure.

Energy security measures are aligned with the broader manufacturing push through initiatives such as the Scheme for Rare Earth Permanent Magnets, India Semiconductor Mission 2.0 and new Chemical Parks. Additionally, INR 2 lakh crore support to states under the SASCI scheme and investments in Dedicated Freight Corridors and National Waterways are expected to lower logistics costs for energy equipment and materials.

By committing to fiscal discipline while strategically deploying capital in energy security and renewables, Budget 2026-27 is expected to power India's sustained growth of around 7 percent with greater independence and environmental responsibility.

Following Budget 2026–27, leaders shared their insights with Energetica India as follows:

Vinay Thadani, Director & CEO – GREW Solar:
"Budget 2026 reinforces Viksit Bharat and Aatmanirbharta, prioritising energy security, manufacturing, and competitiveness. With INR 40,000 crore for initiatives like Semiconductor Mission 2.0 and domestic solar components, it boosts self-reliant industrial ecosystems, reduces imports, drives exports and employment, and accelerates India’s clean energy transition."

Sameer Gupta, Chairman – Jakson Group:
"Budget 2026–27 sets a growth-focused roadmap with INR 12.2 lakh crore capital expenditure, boosting energy, infrastructure, and domestic manufacturing. With INR 20,000 crore for carbon capture, infrastructure risk guarantees, and transport and urban development initiatives, it strengthens investor confidence, energy security, and sustainable, inclusive growth toward a Viksit Bharat."

Dr. Faruk G. Patel, Founder, Chairman & MD – KP Group:
"Budget 2026 takes significant steps for India’s clean energy value chain with INR 20,000 crore for CCUS, ~15 percent capital subsidy for lithium and nickel processing, customs duty reductions, and dedicated rare earth corridors in Odisha, Andhra Pradesh, Tamil Nadu, and Kerala, strengthening renewables, EVs, storage, and high-tech manufacturing supply chains."

Vineet Mittal, Chairman, Avaada Group:
“Budget 2026–27 strikes a balance between ambition, growth and discipline. With sustained public capex of INR 12.2 lakh crore, a clear fiscal consolidation path, and reforms like the Infrastructure Risk Guarantee Fund, it focuses on building long-term productive capacity rather than short-term stimulus. The emphasis on infrastructure, MSME scaling, transport, digital and logistics readiness sends a strong signal that India is investing for durable growth, competitiveness, and investor confidence.”

Manish Gupta, Chairman, INA Solar:
"The priority accorded to renewable energy in the Union Budget 2026–27 is a strong and forward-looking step towards India’s sustainable development. By placing solar power, domestic manufacturing, energy storage and grid integration at the centre of the clean-energy transition, the Budget provides long-term policy clarity for the sector.  BCD exemptions on critical inputs for solar panels, battery storage, biogas and other clean-energy inputs will make green energy more affordable while giving fresh momentum to domestic manufacturing and local value addition. The expansion of the PM Surya Ghar Muft Bijli Yojana will accelerate rooftop solar adoption and ensure access to clean, affordable power for millions of households, while initiatives like PM-KUSUM will enhance farmers’ energy self-reliance and income. The focus on storage, grid infrastructure and manufacturing reflects the government’s vision to position India as a global renewable energy leader. This Budget strongly reinforces India’s 500 GW non-fossil capacity target by 2030 and its Net-Zero goal for 2070."

Vinay Rustagi, CBO – Premier Energies:
"Budget 2026 is forward-looking, boosting energy security and domestic manufacturing. Key measures include INR 27,000 crore for PM-Surya Ghar and KUSUM, hi-tech tooling for precision equipment, import duty waivers for battery storage and critical mineral processing, and substantial support for carbon capture, nuclear, and other emerging clean energy technologies."

Sumant Sinha, Founder, Chairman & CEO – ReNew:
“Built like a roadmap for sharp turns and long highways, Union Budget 2026 balances youth employment, fiscal discipline, and domestic manufacturing. Focus on batteries, semiconductors, garments, critical minerals, CCUS, and next-generation nuclear technologies signals a resilient, competitive, and opportunity-ready economy poised to lead in clean-energy sectors.”

D.V. Manjunatha, Founder & CMD – Emmvee Photovoltaic Power Ltd.:
“Union Budget 2026 reinforces policy stability for renewable energy and manufacturing, shifting focus from incentives to execution, scale, and quality. Early domestic solar investors gain long-term confidence and visibility, while emphasis on operational excellence, cost competitiveness, and value-chain depth strengthens India’s position as a global clean energy manufacturing hub and supports sustainable growth.”

Devansh Jain, Executive Director – INOXGFL Group:
“The Union Budget 2026–27 underscores India’s commitment to a resilient, low-carbon energy system, aligning with INOXGFL’s clean energy strategy. Support for BESS, customs duty exemptions for lithium-ion cells, solar input relief, and INR 20,000 crore for CCUS strengthen grid stability, accelerate renewable integration, and build end-to-end domestic clean-energy value chains, fostering sustainable growth and industrial transformation.”

Siddharth Bhatia, Managing Director – Oyster Renewables & AB Energia:
"Union Budget 2026 sets a growth roadmap through infrastructure, domestic manufacturing, and energy security. Record capital expenditure, MSME support, rare earth focus, and customs duty exemptions for batteries and solar inputs will accelerate renewable energy deployment, strengthen the grid, and secure essential minerals for a sustainable, technology-led energy transition."

Vivek Gupta, Managing Director – Oswal Pumps:
"Budget 2026–27 balances fiscal discipline with high capital expenditure, strengthening India’s agriculture and rural economy. Focus on efficient irrigation, renewable energy, technology adoption, and rural infrastructure will boost farm incomes, improve water security, modernize farming practices, and enhance resilience, positioning agriculture as a strategic engine of sustainable growth."

Akshat Jain, CEO – KLK Ventures:
“The Union Budget 2026 is pivotal for India’s renewable energy, especially solar. Duty reductions on panels and components, customs exemptions for sodium antimonate and lithium-ion battery capital goods, enhance domestic manufacturing competitiveness, lower costs, strengthen supply chains, attract investment, and accelerate solar adoption—driving India’s clean energy transition and long-term sustainability.”

Navneet Daga, Co-founder & CEO – Zenergize:
"Budget 2026’s focus on electronics and semiconductor manufacturing boosts India’s EV and renewable energy ecosystem, reduces import dependence, generates jobs, and underlines the need for advanced components and long-term investment to achieve self-reliance in clean energy technology."

Manan Thakkar, Co-Founder & Managing Director – Prozeal Green Energy Ltd.:
“The Union Budget 2026–27 presents a forward-looking roadmap aligned with India’s Viksit Bharat vision and targeted growth above 7 percent. Reforms across taxation, power, urban development, mining, finance, and regulations boost competitiveness. Extending BCD exemptions for lithium-ion cell manufacturing will accelerate clean energy adoption across India’s manufacturing sector.”

Meenu Singhal, Regional Managing Director – Socomec Innovative Power Solutions:
"Union Budget 2026–27 drives India toward global technology leadership with INR 12.2 lakh crore capital outlay, Semiconductor Mission 2.0, INR 40,000 crore for electronics components, Rare Earth Corridors, and skilling initiatives. MSME Growth Fund and high-tech manufacturing focus will boost innovation, competitiveness, and employment, advancing the vision of an Aatmanirbhar, Viksit Bharat."

Atanu Mukherjee, President & CEO – Dastur Energy:
"The INR 20,000-crore CCUS allocation signals India’s pragmatic approach to industrial decarbonisation. For sectors like steel, cement, and chemicals, CCUS reduces emissions while protecting competitiveness and jobs. Focus on shared CO₂ infrastructure, risk support, and clear regulations can scale CCUS, integrating with power, fuels, and hydrogen strategies for sustainable growth."

Gaurav Dolwani, Founder & CEO – LICO Materials Pvt Ltd:
"Budget 2026 recognises recycling and secondary materials as key to India’s battery supply chain. Customs duty exemptions on lithium-ion battery waste and critical minerals improve feedstock availability, scale, and investment, enabling a circular supply chain, strengthening Make in India, and supporting domestic material security for sustainable battery manufacturing."

Bikesh Ogra, Vice Chairman & Global CEO – Jakson Green Ltd.:
"Budget 2026 positions India as a global clean energy and manufacturing leader. Focus on capital expenditure, domestic manufacturing, critical minerals, and energy security signals policy consistency, attracting global investors and enabling India to deliver scalable, export-quality renewable energy and green manufacturing solutions, boosting competitiveness and long-term growth."

Rahul Munjal, Chairman & Managing Director – Hero Future Energies:
“Union Budget 2026 sets a pragmatic, visionary roadmap for a self-reliant India with inclusive growth, robust infrastructure, domestic manufacturing, and future-ready workforce. Customs duty exemptions for lithium-ion cells, BESS, and clean-energy inputs scale domestic capacity, while CCUS and nuclear support create credible transition pathways and stable capital-intensive energy investments.”

Vimal Kejriwal, Managing Director – KEC International:
“India’s Union Budget 2026 reinforces infrastructure-led growth with capital expenditure of INR 12.2 lakh crore, 20 new waterways and seven high-speed rail corridors. This creates sustained demand for the EPC sector across transmission, highways, railways and water infrastructure, supporting private investment, domestic supply chains and inclusive economic growth.”

Girish Tanti, Chairman – IWTMA:
“Budget 2026 demonstrates India’s resilience and growth commitment. With INR 12 lakh cr capital expenditure, INR 1 lakh cr energy spending, focus on renewables, grid modernization, energy security, PLI incentives, R&D tax benefits, and bond market reforms, the Budget accelerates the energy transition, strengthens Atmanirbhar Bharat, and supports sustainable, inclusive economic growth and prosperity.”

Anant Badjatya, CEO – Indofast Energy:
"Budget 2026–27 strengthens India’s electronics and semiconductor ecosystem, accelerating EV adoption. With INR 40,000 crore for electronics components, customs duty exemptions for BESS, and Semiconductor Mission 2.0, the initiatives localise EV manufacturing, enhance supply chain security, reduce import dependence, and support scalable, cost-efficient, and accessible electric mobility across two- and three-wheelers."

Nitin Gupta, Co-founder & CEO, Attero:
“The Union Budget 2026-27 delivers a strong agenda for Atmanirbhar Bharat by prioritising domestic capacity in critical minerals and reducing India’s strategic import dependencies. The announcement of dedicated rare earth corridors across states like Odisha, Kerala, Andhra Pradesh and Tamil Nadu is especially significant, as rare earth permanent magnets are essential for EVs, renewable energy systems and advanced manufacturing. By supporting domestic mining, processing, research and manufacturing, the government is building resilient supply chains that will be central to India’s clean-tech future. The proposed outlay of Rs. 20,000 crore over five years for CCUS technologies also reflects a parallel commitment to scaling climate-focused industrial solutions."

Ankur Khaitan, MD & CEO – TACC Ltd.:
“With India’s projected 7.4 percent GDP growth, Union Budget 2026 reinforces domestic manufacturing and energy transition. BCD exemptions for lithium-ion battery equipment, INR 34,500 cr for the National Critical Mineral Mission, and INR 20,000 cr for CCUS lower capital intensity, support localisation, and strengthen India’s battery ecosystem, clean energy, and industrial decarbonisation efforts.”

Tanmoy Duari, CEO – AXITEC Energy India Pvt. Ltd.:
"Budget 2026 provides a pragmatic blueprint for India’s energy transition. INR 1,775 crore for solar, BCD exemptions on equipment and solar glass, and REC-PFC restructuring strengthen financing, reduce costs, and boost solar competitiveness. These measures support renewable targets, investor confidence, and a resilient, affordable, and sustainable energy future."

Rajesh Gupta, Managing Director & Founder – Evergreen Recyclekaro India Ltd:
“Union Budget 2026 sharpens India’s strategic focus on rare earths and critical inputs for electronics, clean energy and advanced manufacturing. Dedicated rare earth magnet corridors in Odisha, Kerala, Andhra Pradesh and Tamil Nadu, continued focus on permanent magnets, cluster-based chemical parks, ISM 2.0 and electronics components schemes strengthen end-to-end capability and long-term domestic supply resilience.”

Shekhar Singal, Managing Director – Eastman Auto & Power Ltd.:
“The Union Budget reinforces India’s energy transition, backing domestic manufacturing, clean mobility, and decentralized renewable adoption with storage. BCD exemptions, 35 capital goods for EV batteries, and INR 40,000 crore for electronics manufacturing boost batteries, storage, and advanced manufacturing. Focus on grid-scale and rooftop solar accelerates decentralised energy access and supports India’s 500 GW non-fossil target.”

Riju Jhunjhunwala, Managing Director – Bhilwara Energy Ltd.:
"Budget 2026–27 demonstrates fiscal discipline with INR 12.2 lakh crore capital expenditure, supporting sustainable growth and infrastructure-led development. Initiatives like Semiconductor Mission 2.0 and customs duty exemptions for BESS and solar glass strengthen energy security, promote technology adoption, and enhance feasibility of renewable energy projects for a low-carbon, resilient India."

Sanjay Gupta, CEO – Apollo Green Energy Ltd.:
"Budget 2026 treats energy transition as a holistic mission, strengthening manufacturing and long-term resilience. Measures on solar glass, battery storage, and critical minerals enhance project economics, domestic supply chains, and round-the-clock clean power. These steps position India as a credible global partner while supporting rapid, structurally resilient solar growth."

Saurabh Marda, Co-Founder & Managing Director – Freyr Energy:
"Restructuring of REC and PFC will strengthen solar financing, improving access for consumer loans. Customs duty exemptions on solar glass and support for BESS reinforce India’s domestic clean energy ecosystem. Combined with PM Surya Ghar, these measures accelerate distributed solar adoption, making clean energy more accessible and affordable nationwide."

Hiren Pravin Shah, Managing Director & CEO – Replus Engitech:
"Budget 2026 marks a turning point for India’s battery and BESS ecosystem, recognising storage as infrastructure. Measures like faster VGF payouts, GST rationalisation, zero-duty access, ACC-PLI 2.0, and Battery Aadhaar strengthen domestic supply chains, improve project bankability, and expand residential adoption under PM Surya Ghar 2.0, central to the clean energy transition."

Govind Sankaranarayanan, Co-founder & COO – Ecofy:
"Budget 2026 strengthens the NBFC and MSME ecosystem with INR 7 lakh crore liquidity support, SME Growth Fund, and Self-Reliant India Fund top-up. Coupled with customs duty exemptions on BESS and solar glass inputs, these measures enhance financing, de-risk lending, and support domestic clean energy deployment and manufacturing competitiveness."

Nishant Arya, Vice Chairman – JBM Group:
"Budget 2026–27 strengthens India’s domestic industrial capabilities from critical minerals to advanced batteries and power electronics. Rare earth corridors, ISM 2.0, duty relief, and MSME-focused measures reduce supply-chain risk, boost manufacturing competitiveness, support e-bus deployment, and enable broad-based growth, skills development, and a self-reliant, sustainable industrial ecosystem."

Harry Bajaj, Founder & CEO – Mobec Innovation:
"Budget 2026 deepens India’s energy transition by extending customs duty exemptions for lithium-ion cell manufacturing and critical mineral processing. These measures strengthen domestic storage capabilities, support EV charging infrastructure, reduce resource dependence, and reinforce a resilient, end-to-end battery ecosystem for scalable, smart, and sustainable mobility solutions."

Jalaj Gupta, Managing Director – Montra Electric:
"Budget 2026 lays a strong foundation for India’s clean mobility and advanced manufacturing. Supporting lithium-ion cell manufacturing, rare earth processing, and ISM 2.0, these measures enable an integrated EV supply chain, deepen localisation, develop skilled talent, and strengthen India’s position as a global hub for sustainable mobility and high-tech manufacturing."

Benjamin Lin, President – Delta Electronics India:
“Budget 2026 balances India’s manufacturing and technology growth. With INR 40,000 crore for Semiconductor Mission 2.0, enhanced electronics component outlay, and a INR 10,000 crore MSME growth fund, it strengthens large-scale manufacturing, supplier ecosystems, innovation, and capabilities, laying a foundation for sustainable, technology-led growth and a globally competitive electronics hub.”

Vikram Handa, Managing Director – Epsilon Advanced Materials Pvt. Ltd.:
"Budget 2026 strengthens India’s lithium-ion battery and critical minerals ecosystem, with customs duty exemptions on raw materials, capital equipment, and cell manufacturing improving project viability. Focus on domestic processing, upstream materials, and CAPEX incentives is crucial to build a reliable, competitive, and resilient supply chain supporting India’s energy transition and Atmanirbhar Bharat."

Ravi Mehra, Managing Director – Uno Minda:
“We welcome Union Budget 2026–27 for strengthening India’s manufacturing ecosystem, advancing Viksit Bharat, and fostering Aatmanirbharta. With ₹40,000 cr for Electronics Components Manufacturing, India Semiconductor Mission 2.0, rare-earth corridors, and 35 capital goods added for EV battery manufacturing, the Budget boosts domestic value chains, reduces import dependence, and supports sustainable, self-reliant industrial growth.”

Jaideep N. Malaviya, Managing Director – Malaviya Solar Energy Consultancy:
"The INR 40,000 crore allocation for electronics manufacturing, coupled with the INR 10,000 crore growth fund, will boost domestic production of inverters, charge controllers, and tracking sensors for the solar industry. These measures also create opportunities for exports, strengthening India’s position in the global clean energy supply chain."

Kushagra Nandan, Co-Founder – LNK Energy:
"Budget 2026 boosts India’s renewable energy with INR 1,775 crore for Solar Power (Grid) targeting 7,000 MW via Solar Parks and 1,100 MW through CPSUs, INR 5,000 crore for PM-KUSUM, BCD exemptions for lithium-ion cells and solar glass, and INR 599.99 crore for Green Energy Corridors, strengthening manufacturing, financing, and grid integration."

Rajiv Ranjan Mishra, Managing Director – Apraava Energy:
"Budget 2026 strengthens India’s energy ecosystem with INR 20,000 crore for CCUS, BCD exemptions for lithium-ion cells and solar glass, and INR 40,000 crore for India Semiconductor Mission 2.0. These measures enhance grid reliability, renewable integration, domestic manufacturing, and system resilience, creating an investment-ready framework for a future-ready, competitive energy infrastructure."

Rahul Gautam, Co-Founder – Exeliq Tech Solutions:
"Budget 2026 boosts India’s deep-tech manufacturing with focus on semiconductors, solar, storage, EVs, and clean energy infrastructure. With INR 10,000 crore for champion MSMEs, TReDS and GeM integration, the tri-Kartavya approach balances growth, capability building, and inclusion, laying the foundation for globally competitive engineering goods and sustainable economic transition."

Rupal Gupta, Founder, Managing Director & CEO – TrueRE Oriana Power:
Budget 2026–27 is an inflection point in India’s energy transition. The INR 20,000 crore CCUS outlay targets power, cement, steel, and refining, while customs duty rationalisation for lithium-ion cells and critical inputs, plus PFC/REC restructuring, strengthens grid stability, financing, and clean energy deployment, laying a foundation for industrial decarbonisation."

Abhijeet Sinha, National Program Director – Ease of Doing Business:
"Budget 2026 transitions India from the 2014–2024 Startup and MSME-led growth to a 2025–2030 emerging economy agenda, focusing on Cultural Economy, Service Exports, Circular Tech, Ease of Living, and Mobility. Measures include credit for women-led MSMEs, climate-tech investment, lower compliance, and EV infrastructure for citizen-visible outcomes."

Sharan Bansal, Director – Skipper Ltd.:
"Budget 2026 raises capital expenditure to INR 12.2 trillion, up from INR 11.2 trillion, targeting a 4.3 percent fiscal deficit. With clear focus on long-term infrastructure, capital formation, and accountability, it provides visibility for developers and manufacturers, facilitates grid modernisation, and supports India’s energy transition with stable, investment-ready policies."

Shreya Mishra, CEO – SolarSquare:
"Budget 2026 prioritises residential solar, with nearly 70 percent of the MNRE budget and INR 22,000 crore under PM Surya Ghar dedicated to this segment. As India’s energy demand grows, decentralised solar strengthens energy security, supports grid resilience, and enhances independence, making residential solar a cornerstone of the renewable energy transition."

Pawan Kumar Garg, Chairman & Joint MD – Fujiyama Power Systems Ltd.:
"Budget 2026 drives technology-led growth and sustainable energy transformation. India Semiconductor Mission 2.0 boosts R&D and manufacturing, while focus on solar, storage, grid readiness, and domestic manufacturing strengthens energy security. These measures accelerate India’s clean energy and tech ambitions, creating opportunities for industrial growth and innovation."

Deepak Jain, Chairman – Lumax Group:
"Budget 2026 strengthens the macroeconomic foundation with focus on capital expenditure and MSMEs. The INR 4,000 crore boost to the Self Reliant India Fund and duty exemptions on lithium-ion cell equipment support clean mobility, advanced manufacturing, and the auto components sector, driving growth in infrastructure, manufacturing, and energy transition."

Raviteja Chivukula, Co-founder & CEO – Perceptyne Robots:
"Budget 2026 accelerates India’s manufacturing transformation by scaling strategic sectors, strengthening capital goods, and creating champion MSMEs. Focus on high-tech tooling, automated hubs, AI applications, and equity and liquidity support for MSMEs builds an ecosystem for robotics and advanced manufacturing, enhancing productivity, efficiency, and global competitiveness."

Amit Badlani, Director – Vihaan Clean & Green Tech:
"Budget 2026–27 signals sustainability as central to India’s growth. Measures like full excise exemption on biogas-blended CNG, INR 20,000 crore CCUS push, and investments in Tier II/III infrastructure strengthen clean-tech adoption. Effective city- and state-level execution will be key to translating these initiatives into tangible environmental and economic impact."

Vasudha Madhavan, CEO & Founder – Ostara Advisors:
"Budget 2026 shifts from aspiration to execution. Rare earth corridors strengthen domestic manufacturing, while the INR 20,000 crore CCUS commitment enables decarbonisation of hard-to-abate sectors like power, steel, and cement. Programmatic implementation ensures industrial emissions reduction, energy security, and a pragmatic, economically aligned path toward India’s net-zero goals."

Manish Dabkara, Chairman & MD – EKI Energy Services; President – Carbon Markets Association of India:
"Budget 2026 marks a turning point for industrial climate action. The INR 20,000 crore CCUS outlay links decarbonisation with mainstream industry, while policy clarity supports carbon markets and climate finance. Sustainability and growth are aligned, enabling private capital deployment and driving implementation readiness across hard-to-abate sectors."

Piyush Goyal, Co-Founder & CEO – Volks Energie:
“Budget 2026 marks a decisive shift toward resilient, future-ready infrastructure, with INR 12.2 lakh crore capital outlay expanding India’s backbone. Exempting basic customs duty on BESS manufacturing capital goods lowers costs, strengthens domestic manufacturing, and accelerates storage integration into large projects, supporting peak demand management, grid stability, and sustainable growth aligned with climate goals and long-term competitiveness.”

Raju Kumar, Partner & Energy Tax Leader – EY India:
“Budget 2026 treats energy transition as industrial resilience and system reliability. Rare Earth Corridors, customs-duty exemptions for critical-mineral processing and BESS, INR 20,000-crore CCUS, and nuclear incentives strengthen input security, reduce project costs, unlock private capital, and accelerate storage-backed renewables, while PFC and REC restructuring improves credit flow and execution across the power sector.”

Rishi Srivastava, Co-founder – Offgrid Energy Labs:
“Union Budget 2026–27 treats advanced manufacturing and energy storage as long-term national capabilities. BCD exemptions for BESS capital goods and duty relief for critical-mineral processing address structural cost and capability challenges, strengthening the storage manufacturing ecosystem and supporting sustainable, technology-driven growth and resilient energy infrastructure.”

Dr Vibha Dhawan, Director General – TERI:
“Union Budget 2026 advances India’s clean, secure, and innovation-driven growth. Focus on nuclear, solar, BESS, AI-led productivity, digital infrastructure, and precision agriculture strengthens energy diversification, efficiency, and rural transition. These measures lay a strong foundation for sustainable growth, distributed renewables, and India’s Viksit Bharat vision by 2047.”

Ashwin Shankar, CEO & Founder – BatteryPool:
“The exemptions on lithium-ion cell inputs strengthen the ecosystem, making batteries affordable for 2W/3W fleets and e-rickshaws. Duty waivers on capital goods reduce costs, increase uptime, and ensure reliable power for gig workers. This Atmanirbhar approach builds resilient supply chains, scales inclusion, and drives India’s clean mobility revolution.”

Benny Parihar, Managing Director, EVERTA:
"The Union Budget reinforces an infrastructure-first approach to electric mobility by prioritising transport networks, urban development and sustained public investment. This is a critical shift, because EV adoption at scale depends less on standalone incentives and more on how mobility and energy infrastructure are planned and executed together. The increase in public capital expenditure to INR 12.2 lakh crore is a clear signal of intent. Investments across transport corridors, urban infrastructure and city economic regions create the backbone for widespread EV charging deployment. As transport corridors and cities expand, charging infrastructure must be deployed where vehicles actually operate, park and turn around, rather than being added in isolation."

Suhas Baxi, Co-founder and CEO, BiofuelCircle:
"I see the Union Budget 2026 as a strong step forward for climate and clean energy growth in India. The focus on rural ecosystems and technology driven agriculture, particularly initiatives like Bharat Vistar, will help farmers make better decisions, reduce risks, and strengthen value chains. Support for MSMEs and rural networks will further strengthen the resilience of agri supply systems. Importantly, the excise duty relief on CBG blended natural gas, along with the policy push for CBG adoption, improves project viability and sends a strong investment signal for the bioenergy sector. At BiofuelCircle, we are committed to enabling integrated value chains between farmers and industry and contributing to a more sustainable and circular energy ecosystem.”

CA Baratam Satyanarayana, Chief financial officer & Director, Bondada Group
“The Budget provides a clear operational framework for the next phase of expansion, driven by accelerated infrastructure creation, improved renewable energy economics, and rising demand from sectors such as data centres and advanced manufacturing. The emphasis on rail connectivity and the growth of Tier II and III hubs aligns perfectly with our execution-driven approach in power, solar, and industrial infrastructure. A key benefit is the reduced import duty on solar glass, which will lower project costs and accelerate the deployment of renewable energy projects, thereby improving their overall feasibility. These initiatives, taken together, boost scalability, strengthen domestic supply chains, and facilitate quicker on-ground execution.”

Abhilesh Gupta, MD and CEO, THINK Gas:
"Budget 2026 reinforces the role of natural gas as a practical transition fuel that supports both growth and sustainability. Mandating the blending of compressed biogas (CBG) with CNG and PNG is a visionary step toward a greener India and energy security. The 20,000 crore outlay for Carbon Capture and the focus on 'net-zero' by 2070 show that the government is serious about environmental responsibility. This budget provides the structural reforms needed to transition India into a gas-based economy while ensuring that clean energy remains affordable and accessible for all."

Masood Mallick, Chairman, CII National Committee on Waste to Worth Technologies, & Managing Director & Group CEO, Re Sustainability Ltd.:
“The INR 20,000 crore commitment to Carbon Capture, Utilisation and Storage (CCUS) over five years is a particularly important signal. It directly addresses the competitiveness challenge Indian industry faces under mechanisms such as the EU’s Carbon Border Adjustment Mechanism and provides a credible pathway for hard-to-abate sectors like steel and cement to remain globally competitive while decarbonising. Equally significant is the focus on building domestic capability across the critical minerals value chain from exploration to processing. Duty exemptions on capital goods for critical mineral processing, along with support for rare-earth corridors in mineral-rich states, will strengthen urban mining and large-scale resource recovery.”

Surbhi Puri, Director, Green Power International:
"The INR 20,000 crore outlay for the CCUS to decarbonise five hard-to-abate industrial sectors will provide a pathway for transitioning to cleaner processes and accelerate the adoption of greener power solutions. As we take active steps to transition toward greener fuels, the exclusion of the entire value of biogas from excise duty on biogas-blended CNG will not only make cleaner fuel more affordable and accessible but will also encourage the widespread adoption of renewable energy. Furthermore, the basic customs duty exemption on capital goods used for manufacturing lithium-ion cells for battery storage will help reduce costs and boost domestic production.”

Jana Lakshman, Head of Growth, GreenJams:
“The Union Budget 2026 provides long-term clarity for India’s data centre ecosystem. As data centre capacity scales, sustainability must move beyond energy efficiency to also address embodied carbon at the construction stage. Better construction materials can play a dual role—reducing Scope 3 emissions while improving thermal performance and lowering operational energy demand. GreenJams’ carbon-negative Agrocrete enables data centre developers to build with lower embodied carbon, improved thermal efficiency, and long-term energy savings, helping create resilient, future-ready digital infrastructure.”

Kaustubh Dhonde, Founder and CEO, AutoNXT:
“The Union Budget 2026 is a strong step towards building a globally competitive manufacturing ecosystem for clean mobility in India. While direct EV subsidies are limited, the government’s sharp focus on domestic manufacturing, infrastructure creation, MSME financing and critical minerals will significantly strengthen the long-term economics of electric vehicle production. For companies like AutoNxt operating in electric tractors and industrial EVs, improved access to working capital through credit guarantees and TReDS, combined with GST rationalisation and duty relief on EV and battery components, will directly reduce cost of capital and improve price competitiveness for Indian manufacturers.”

Mukesh Singla, CFO, Zypp Electric:
“Budget 2026–27 is a structural win for electric logistics because it tackles core cost levers instead of only adding EV subsidies. Extending duty exemptions for lithium‑ion cell manufacturing and critical‑mineral processing will make batteries, motors and power electronics cheaper and more local over time. Coupled with India Semiconductor Mission 2.0 and the PM E‑Drive push for charging and swapping infrastructure, this gives Zypp confidence to grow ahead of the curve, expand into Tier‑II, and lock in long‑tenor green last‑mile logistics, mobility for businesses, gig-workers and deploy 100,000 EVs across 25 cities, and enable the Net Zero mission with rapid growth by 2030.”

Mahesh Girdhar, MD and CEO, EverEnviro Resource Management Pvt. Ltd.:
"The Union Budget 2026 marks a defining step in India’s gas-based energy transition. The decision to mandate phased blending of Compressed Bio-Gas with CNG and PNG is a systems-level reform that embeds CBG into the mainstream gas ecosystem. The exclusion of the biogas component from central excise duty on biogas-blended CNG significantly improves price competitiveness, while CBG blending delivers clear gains, lower carbon emissions, assured offtake, and stable income opportunities for farmers through agri-residue utilisation. Together, these measures provide the certainty needed to scale renewable gas infrastructure across India."

Rahul Das,  AVP - Business Development at Oorjan Cleantech Pvt. Ltd.:
"By extending the basic customs duty exemption on capital goods for Battery Energy Storage System manufacturing, the Budget 2026 acknowledges a critical reality: renewable energy cannot scale without affordable storage. This move directly addresses one of the biggest cost barriers in the energy transition and sends a strong signal that storage is no longer optional, but foundational. For the cleantech ecosystem, it creates the right conditions to scale domestic BESS manufacturing, accelerate deployment, and build a more reliable, flexible grid aligned with India’s clean energy ambitions.”

Samrath S. Kochar, Founder & CEO, Trontek Electronics:
"The Union Budget 2026–27 shows that the government is serious about strengthening India’s energy storage and electronics manufacturing sector. By extending customs duty exemptions on machinery used for making lithium-ion batteries and processing critical minerals within India, the Budget helps lower manufacturing costs and encourages more local production. The focus on energy security, a stable power grid, and domestic manufacturing of advanced equipment is a positive step for the industry. These measures make it easier for companies like Trontek to expand local manufacturing, invest in innovation, and build reliable energy storage and power electronics solutions."

Laxit Awla, CEO and Executive Director, SAEL Industries Ltd.:
"We commend Budget 2026’s strong push to scale manufacturing and strengthen energy security which is key to a competitive, future-ready India. Measures such as customs duty exemptions for lithium-ion battery energy storage system capital goods, relief on sodium antimonate for solar glass, and targeted support for carbon capture reflect a holistic approach to the energy value chain and industrial decarbonisation.The tax holiday for foreign cloud service providers using Indian data centres is equally significant, catalysing investment and growth while driving demand for reliable, affordable, and clean power. SAEL has consistently advocated a vertically integrated solar and energy storage ecosystem to build domestic capability and self-reliance in clean energy."
 

Manoj Kumar Jhawar, Chairman and Managing Director, PTC India:
“By exempting basic custom duty for capital goods for manufacturing Lithium-ion cells for batteries and battery energy storage systems (BESS), the government has paved the way for round-the-clock renewables, effectively transforming intermittent green energy into firm, dispatchable power. This will significantly deepen the power markets and allow traders like PTC to offer more reliable renewable solutions to utilities and C&I consumers.”
 
 
Kartik Daftari, Managing Director & CEO at Hi-Tech Radiators:
“The Union Budget 2026 sends a strong and reassuring signal to industry by placing technology-led manufacturing at the centre of India’s growth strategy. The INR 40,000 crore India Semiconductor Mission 2.0, expanded electronics manufacturing incentives and record capex of INR 12.2 lakh crore will significantly strengthen domestic supply chains and reduce import dependence in critical components. Equally important is the focus on rare earth corridors, chemical and capital goods parks and MSME enablement, which will deepen upstream capabilities and improve export competitiveness.” 
 
K.L. Bansal, Chairman and Managing Director, DEE Development Engineers:
“What stands out from this Budget is the continuity in supporting sectors that require sustained capital investment and long-term planning. There is a clear acknowledgement of emerging areas such as alternative and clean fuels, alongside core segments like nuclear power and steel. Clean energy solutions such as biomass and waste-to-energy are being recognised for their ability to address emissions, rural income generation, and energy availability together. When combined with nuclear power as a stable, low-carbon baseload and steel as the backbone of infrastructure development, this creates a more integrated energy and manufacturing framework.”
 
Niranjan Nayak, MD, Delta Electronics India:
“What stands out in the Union Budget 2026 is the scale, consistency, and seriousness with which the government is approaching electronics and advanced manufacturing. The launch of India Semiconductor Mission 2.0 with an outlay of INR 40,000 crore, along with the expansion of the electronics components manufacturing scheme to a similar level, clearly signals a long-term commitment to building strong domestic capabilities. Importantly, the focus goes beyond manufacturing capacity to include full-stack design, development of Indian intellectual property, skill creation, and stronger supply-chain resilience.
 
 
Anil Agrawal, Founder and CEO of CIMCON Automation:
“The Union Budget 2026’s push in the India Semiconductor Mission 2.0 will significantly help the country’s utilities automation sector. With an INR 40,000 crore outlay, this initiative provides vital support to full-stack, deep-tech enterprises like ours as we develop domestic intellectual property and scale Indian innovation globally. The localisation of critical semiconductor components will create a powerful snowball effect: improving accessibility, reducing lead times, and lowering costs, unlocking opportunities in price-sensitive domestic markets, accelerating the digital transformation of utilities.”
 
Yashodhan Ramteke, CEO, EcoGuard Global: 
“With the Union Budget announcing a commitment of INR 20,000 crores over five years to Carbon Capture, Utilisation and Storage (CCUS), we see a major shift in the way the country is planning to address the challenge of decarbonisation in sectors such as power, steel, cement, refineries, and chemicals. The scheme has the potential to take CCUS from the pilot stage to a viable industrial solution, which would be beneficial in reducing transition risk in the country’s journey towards the development of its domestic carbon market.” 
 
Dr. Hanuma Prasad Modali, Managing Director and CEO, Deccan Gold Mines:
“For the mining and resources sector, the proposed scheme for rare earths and critical minerals – especially in mineral-rich states such as Andhra Pradesh and Tamil Nadu – is a significant and timely intervention. The decision to provide basic customs duty exemption on capital goods required for processing of critical minerals in India, and to extend tax deductibility for expenditure on prospecting and exploration by including additional critical minerals, directly improves project economics and lowers entry barriers for serious explorers.
 
Kunal Mundra, Founder and CEO, Astranova Mobility:
“This budget has highlighted the government's emphasis on enabling financing for India's future and the critical role specialised NBFCs play in the ecosystem. The Budget acknowledges that banks are not the only answer to India’s financing needs and that complex, niche industries require specialised financing institutions that offer more than simply credit, by truly comprehending the asset lifecycle. This shift moves financing away from one-size-fits-all lending towards more focused, developmental support.”
 
Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy Group
“The relief in customs duty for the import of sodium antimonate used in the manufacture of solar glass is a step in the right direction. This move will reduce input costs for solar panel manufacturers and thereby augment domestic solar equipment production, giving an impetus to the entire sector in terms of Atmanirbharta. The extension of basic customs duty exemption for capital goods used for manufacturing Lithium-Ion Cells for batteries, and to those used for manufacturing Lithium-Ion Cells for battery energy storage systems (BESS), is also a welcome decision.”
 
Nitin Chitkara, CEO, MMCM
“The allocation of INR 20,000 crores towards CCUS signifies a move from incremental efficiency improvements to deep decarbonisation in sectors like steel, cement, power, and refining. For industries, this offers a prospect to address unavoidable emissions and simultaneously increase production levels, which is vital for economic growth. These steps in CCUS and vehicle scrappage can result in the creation of more carbon abatement potential in the market. When combined with well-functioning carbon markets, this has the potential to unleash finance and create high-quality carbon assets in the market and take India closer to building a competitive, resilient, and globally relevant green economy.”
 
Mayank Garg, CEO, Aroma Solar Energy
“We are particularly encouraged by the revision of duties on solar cells and solar allied products. This move to rationalise the duty structure is a decisive step to correct inverted duties, significantly lowering our input costs and boosting domestic value addition. When combined with the new Economic and Freight Corridors, which will reduce our logistics costs for moving heavy glass and modules, the Government has effectively removed the two biggest bottlenecks for the industry.”

Shailly Kedia, Director, TERI:
"India’s environment spending shows a tale of two realities: pollution control has seen overutilisation, and rightly so, rising from INR 853 crore in Budget Estimates in FY 2025-26 to INR 1,300 crore in Revised Estimates, while core ecological programmes such as the Green India Mission and wildlife conservation continue to face underutilisation, reflecting the need to build more capacity. The 2026-27 output-outcome framework remains narrowly focused on pollution monitoring, with climate-resilient farming targeting just 30,000 farmers in a country with 118 million cultivators, highlighting the disconnect between climate risk and outcome ambition. It is time India introduced a dedicated green budgeting exercise, on the lines of gender budgeting, to systematically track environment and climate spending across ministries, link allocations to utilisation, and strengthen outcome-based accountability."

Dhanya Rajeswaran, Global VP & Country Managing Director, Fluence in India
“The Union Budget 2026 marks a decisive step in strengthening India’s technology and manufacturing ecosystem. Building on the progress of the India Semiconductor Mission 1.0, the launch of ISM 2.0 with a sharper focus on equipment and materials manufacturing, full-stack Indian IP, and resilient supply chains signals a clear intent to deepen domestic capabilities. The emphasis on industry-led research and training centres further reinforces the government’s commitment to developing future-ready talent and translating innovation into scalable, real-world outcomes."

Navin Mathur, COO, Asvata:
"The Union Budget 2026–27’s institutionalisation of a national CCUS scheme, and steps to strengthen the banking architecture for long term infrastructure finance, signals a decisive shift toward scaling climate action with commercial capital and clearer risk-sharing. At Asvata, our core promise is building scalable climate solutions that deliver measurable impact for the planet, people, and businesses."

Sanjeev Aggarwal, Founder and Executive Chairman, Hexa Climate:
"Budget 2026 is a decisive ‘Execution Budget’ that correctly identifies storage and finance as the twin pillars of our energy transition. The extension of customs duty exemption for Battery Energy Storage Systems (BESS) manufacturing is a game-changer; it signals that the government views storage not as a luxury but as essential grid infrastructure. Furthermore, the historic capital expenditure target of INR 12.2 lakh crore, combined with the restructuring of PFC and REC to improve efficiency, provides the financial backbone we need to scale. By lowering input costs for solar glass and securing the supply chain for critical minerals, this budget gives the private sector the confidence to move from planning to aggressive deployment."

Surendra K Gupta, Executive Director and CFO, AMPIN Energy Transition:
“The Union Budget 2026–27 reiterates the Government’s commitment to India’s energy transition, with welcome steps such as customs duty rationalisation for solar glass and lithium-ion cell manufacturing, support for CCUS, and proposed restructuring of PFC and REC to enhance long-term financing for renewable projects. However, to truly accelerate renewable energy deployment, the industry needs greater clarity on delays in PPAs and PSAs, a dedicated PLI scheme for BESS manufacturing, extension of ALMM applicability for solar cells till March 2028, continuation of the concessional 15 percent corporate tax rate for new RE manufacturing entities, and rationalisation of GST on BESS and corporate guarantees."

Anand Jain, Founder, Aerem Solutions:
“The proposed INR 10,000 crore SME Growth Fund and the top-up to the Self-Reliant India Fund aim to channel risk capital to MSMEs and micro enterprises, while TReDS-based measures mandating CPSE purchases on the platform, adding CGTMSE-backed guarantees, linking GeM, and enabling securitisation of receivables can ease working capital constraints for smaller firms that want to adopt clean energy. The creation of ‘Corporate Mitras’ through ICAI, ICSI and ICMAI will also help MSMEs manage compliance at lower cost, freeing bandwidth and capital for productivity-enhancing investments, including solar and storage.”

Satyen J. Mamtora, CEO and MD of Transformers and Rectifiers (India) Ltd. (TARIL):
 “Customs duty exemptions for capital goods used in lithium-ion battery and solar glass manufacturing, proposed exemptions for Battery Energy Storage Systems (BESS), and the extension of duty exemptions for nuclear power projects until 2035 together provide longer-term policy visibility and may help moderate costs while supporting investments across clean as well as conventional energy infrastructure.”

Ankit Patidar, Director & CMO, Shakti Pumps (India) Ltd.:
"The emphasis on capital expenditure, rural empowerment, and technology-driven productivity aligns closely with our mission of enabling farmers through reliable solar irrigation while reducing dependence on conventional power sources. Measures supporting MSMEs, credit access, and manufacturing ecosystems will further strengthen India’s clean-tech supply chain and accelerate adoption at scale. As India advances toward its 2030 renewable energy targets, we see this Budget as an enabler for innovation, localisation, and expansion."

Yogesh Kudale, Co-founder and CEO of TAYPRO:
"The restructuring of PFC and REC shows a clear focus to enhance the efficiency of institutions and create deeper liquidity for private investment in large-scale renewable energy projects. The introduction of the Infrastructure Risk Guarantee Fund is also very encouraging, as it significantly reduces risks associated with long gestation power projects and can attract long-term global funds into the sector. Equally significant is the emphasis on the transition to despatchable renewable energy, with a major thrust on storage and grid modernization, this is the groundwork needed to transition from clean energy aspirations to clean energy delivery. The enhanced capital outlay of INR 12.2 lakh crore, particularly in the area of transmission and green corridors, will be a major catalyst in this regard. Finally, the opening up of opportunities in nuclear energy and green hydrogen is a sign of a very progressive approach to energy security and independence.”

Raj Kumar Medimi, Executive Director, Trinity Cleantech:
“The Union Budget 2026–27 presents a forward-looking roadmap that balances growth, fiscal discipline, and long-term sustainability. The government’s decision to sustain public capital expenditure at around INR 12.2 lakh crore, accounting for approximately 3.4 percent of GDP, reinforces infrastructure-led growth as a key economic driver. The focus on energy security, modern infrastructure, and environmentally sustainable systems is particularly significant at a time when grid resilience, electrification, and clean mobility are becoming central to national competitiveness.”

Aditya Pyasi, CEO, IWTMA:
“IWTMA welcomes the Union Budget’s commitment towards doing away with the critical bottlenecks for Wind and RE generation like the enhanced push to grid integration with higher capex provision for green energy corridors and battery integration for Wind-Solar-Hybrid projects and bringing the wind turbine ecosystem under the National Manufacturing Mandate, the government has sent a clear signal that wind is a strategic manufacturing priority, not just a capacity-addition target. The Association will also work with member OEMs and component manufacturers to map localisation pathways for critical parts—especially bearings, blades, generators and power electronics—leveraging the extended 5 percent BCD window, SEZ manufacturing flexibility and upcoming ALMM timelines.”