What the Union Budget has for the printing and packaging industry 

The industry on the Budget

Manoj Verma, COO, Bikaji Foods International: The Union Budget 2026 reinforces a macro-economic framework focused on consumption stability, execution discipline and supply-chain efficiency, all of which are critical for the packaged foods sector. The emphasis on realistic fiscal planning, outcome-based monitoring and infrastructure-led development strengthens the operating environment for food processing companies that depend on consistent demand, efficient logistics and predictable regulatory systems. As disposable incomes benefit from broader economic stability and formal employment generation, demand for trusted, branded food products is expected to remain resilient. At an industry level, this supports investments in capacity expansion, quality assurance and distribution reach, while at a macro level it contributes to value-added manufacturing, employment generation and the strengthening of India’s organised food processing ecosystem.

S Sunil Kumar, country president, Henkel Adhesives Technologies India: We welcome Union Budget 2026 and its focus on the three Kartavyas of accelerating growth, building national capacity, and ensuring inclusive development. The continued emphasis on infrastructure is reflected in the INR 12.2-lakh crore public capital expenditure. Investments in transport corridors, urban infrastructure, capital goods, electronics manufacturing, and semiconductors signal a clear intent to build deeper, more resilient manufacturing capabilities. For the adhesives sector, this supports demand across infrastructure-led and technology-intensive applications. These range from infrastructure and transportation to electronics and semiconductor manufacturing, where performance, durability, and reliability are critical. Henkel’s strategic focus on innovation, digitalisation, and sustainability is well reflected in the Budget’s emphasis on sustainability, digital manufacturing, advanced electronics, and Semiconductor Mission 2.0. The INR 20,000-crore allocation for carbon capture and utilisation further signals that sustainability is being treated as an economic enabler rather than a compliance requirement. Taken together, the Budget underscores a responsible growth framework anchored in inclusivity, capability building and long-term competitiveness, and we would like to credit the government for this.

Mohit Malhotra, CEO, Dabur India: The Union Budget 2026–27 was on expected lines as it reflects quiet strength and continuity. This is not a Budget driven by short-term populism. Instead, it places its faith in continuity, institution-building and resilience. With a sustained focus on enhancing farmer income, institution-building, infrastructure and maintaining fiscal discipline, the Budget reinforces confidence in India’s medium-term growth trajectory, even as it avoids dramatic policy shifts. The continued emphasis on public investment is a key positive, with capital expenditure rising nearly 9% to INR 12.2-lakh crore for 2026–27, underscoring the government’s commitment to infrastructure-led growth. The sharper focus on tier-II and tier-III cities, along with the recognition of Global Capability Centres as a growth driver, is expected to broaden India’s economic footprint beyond metros. For companies like Dabur, these measures will help drive deeper penetration of branded consumer products by improving access, logistics efficiency and income resilience across Bharat. At the macro level, the commitment to fiscal discipline, with the fiscal deficit pegged at 4.3% of GDP, provides reassurance on policy credibility and economic stability. While the absence of stronger near-term consumption stimulus and the increase in STT on futures and options remain areas of concern, the Budget’s balanced approach strengthens the foundation for sustainable growth in an uncertain global environment.