“Rise in energy, petrochemicals and metals points to renewed cost-push inflation with broad-based acceleration with inflation in Fuel and Power increasing to 27.41%, Manufactured Products to 7.48%, and Primary Articles to 7%. Persistent increases in wholesale prices, particularly in upstream industries, could gradually pass through to downstream manufacturing and consumer prices with a lag unless offset by productivity gains or lower input costs” said Mr. Rajeev Juneja, President PHDCCI.

“Higher prices of petroleum products primarily reflect increased crude oil inventory and refining costs. Since petroleum products constitute a major input for freight transportation, logistics, aviation, power generation and industrial production, sustained increases are expected to raise operating costs across multiple sectors”, he added.

The revised WPI basket has been expanded from 697 to 957 items, incorporating emerging sectors and improving the representation of the evolving structure of the Indian economy. The new series also adopts Gross Value of Output (GVO) as the basis for weights, introduces improved methods for index compilation and missing data imputation, and reorganises the energy basket by placing crude petroleum and natural gas under the Fuel and Power group. Renewable energy sources, including solar and wind, as well as nuclear electricity, have also been incorporated into the index.

Introduction of the revised Wholesale Price Index (WPI) series with base year 2022-23 along with the launch of Output Producer Price Index (OPPI), Trial Input Producer Price Index (IPPI) and Service Producer Price Indices (Service PPIs) is a welcome move, he added.

The chemical industry has experienced rising prices owing to higher feedstock costs linked to crude oil and natural gas, increased prices of imported intermediates and stronger demand from pharmaceuticals, construction materials, automobiles and consumer goods industries.

Food inflation at the wholesale level (5.49% YoY) has increased, reflecting higher prices of processed food products and selected agricultural commodities. However, food price pressures remain considerably lower than energy-related inflation.

“The latest wholesale inflation data indicate that energy and commodity prices continue to be the principal drivers of producer inflation, due to persistent geopolitical challenges, will put pressures on corporate margins in the short term”, said Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI.

The event brought together policymakers, industry leaders, scientists, diplomats, startups, and progressive farmers from across the country. The awards received an overwhelming response, recognizing outstanding contributions in four categories: Startup & Innovation Award, Women Agripreneur Award, Young Farmer Innovator Award, and Progressive Farming Excellence Award.

Dr. P.K. Singh, Agriculture Commissioner, Ministry of Agriculture & Farmers’ Welfare, Government of India, graced the occasion as the Chief Guest. He emphasized that Indian farmers hold centuries of practical wisdom, and agricultural innovation must solve real challenges while delivering economic benefits. He stressed the need for location-specific farming tailored to agro-climatic conditions, resource availability, and market demand. Highlighting initiatives like the National Missions on Pulses, Oilseeds, and Cotton. He stated that demonstrations and field-level evidence are the most effective ways to encourage technology adoption. Finally, he underlined that market demand drives agricultural success, making quality improvement, value addition, and efficient marketing systems essential for long-term sustainability.

Addressing the gathering, Mr. Roberto Carlos Papa, Agriculture Attaché, Embassy of Brazil in India, highlighted the strong and growing agricultural partnership between India and Brazil. Referring to farmers as the “real champions,” he applauded their resilience, commitment to food security, sustainability, and rural development. He emphasized the importance of international cooperation in advancing innovation, agricultural trade, research, and sustainable farming practices.

Dr. Sharmila Oswal, Millet woman of India and sustainability expert and entrepreneur, spoke about the need for stable policies, stronger implementation of government schemes, better coordination among ministries, simplified organic certification, improved processing infrastructure, and greater support for millet growers, women entrepreneurs, and agri-startups. She emphasized that policy consistency and market access are essential for building a thriving agricultural startup ecosystem.

Dr. R.G. Agarwal, Chair, Agribusiness Committee, PHDCCI, emphasized that India’s agricultural future depends on strengthening technology, improving extension services, reforming agricultural marketing, ensuring fair prices for farmers, and creating policies that make farming a profitable and respected profession. He urged greater collaboration between the government, industry, scientists, and farmers to achieve these goals.

Dr Jatinder Singh, DSG, PHDCCI, in his welcome speech emphasized that the awards were created to honor innovators, researchers, startups, and farmers whose work can be replicated nationwide. The initiative aims to promote knowledge sharing, collaboration between farmers and businesses, and sustainable models that strengthen India’s agricultural growth and rural economy. He further emphasized that farmers and field workers are the true heroes of Indian agriculture, as their continuous innovations in seeds, technologies, and practices play a vital role in ensuring food security and driving economic development.

The PHDCCI Agri-Business Awards 2026 reaffirmed the Chamber’s commitment to promoting innovation, entrepreneurship, sustainable agriculture, and farmer-centric development. The event concluded with a renewed commitment from government, industry, researchers, and farmers to work together towards building a resilient, technology-driven, and globally competitive agricultural ecosystem that contributes to the vision of Viksit Bharat.

The conference commenced with the welcome address by Dr. Jatinder Singh, Deputy Secretary General, PHDCCI, in the presence of Guest of Honour Mr. Satyaki Rastogi, Chief General Manager, SIDBI, and Guest of Honour Mr. Saurabh Diddi, Director, Bureau of Energy Efficiency (BEE), Ministry of Power, Government of India. The session also featured Mr. Ravinder Bhan, Senior Director, Indian Steel Association (ISA); Mr. Ajay Sharma, Joint Director, National Accreditation Board for Certification Bodies (NABCB); and Mr. R. R. Rashmi, Distinguished Fellow – Green Shipping, TERI, as Special Guests, who shared their perspectives on India’s preparedness for CBAM and the country’s low-carbon industrial transition.

Welcoming the participants, Dr. Jatinder Singh said that with the European Union’s CBAM entering its definitive phase from 1 January 2026, carbon competitiveness has become a permanent determinant of global market access. He highlighted that the EU, India’s third-largest trading partner with bilateral goods trade of nearly €118 billion, is a key destination for Indian exports in sectors such as iron & steel, aluminium, cement and fertilisers. Referring to the early impact of CBAM, he noted that India’s steel and aluminium exports to Europe have already witnessed pressure, signalling the urgency for industry to strengthen emissions monitoring and carbon reporting systems. He emphasised that while large enterprises may be better equipped to respond, MSMEs require urgent support through technology adoption, affordable verification infrastructure, cleaner energy access and simplified reporting mechanisms. He further called for strengthening India’s carbon pricing framework, accelerating industrial decarbonisation and building robust institutional capacity for Measurement, Reporting and Verification (MRV) to ensure India’s long-term competitiveness in global trade.

Addressing the conference, Mr. Satyaki Rastogi highlighted that CBAM is likely to impact not only exporters but the entire manufacturing value chain, with MSMEs bearing the highest compliance burden due to the costs associated with technology upgradation, audits, certification and verification. He stressed the need for coordinated policy interventions, common testing and certification facilities, awareness and capacity-building programmes, and affordable financing solutions to facilitate the transition. Highlighting SIDBI’s commitment to sustainable industrial growth, he informed that SIDBI has been promoting green finance since 2011, and today over 40% of its ₹50,000 crore direct lending portfolio supports energy-efficient and environmentally sustainable manufacturing.

Delivering the Government’s perspective, Mr. Saurabh Diddi stated that while CBAM directly affects sectors such as steel and aluminium, its implications extend across the entire supply chain, including indirect exporters and MSMEs. He informed that the Government is actively engaging with the European Union and the United Kingdom to secure recognition of India’s Carbon Credit Trading Scheme (CCTS), facilitate acceptance of Indian Accredited Carbon Verification Agencies for CBAM compliance, and explore comparative benchmarking mechanisms that better reflect India’s energy profile. He also announced that draft compliance targets for the steel sector under the CCTS have been released for public consultation, while trading under the Indian Carbon Market is expected to commence by October 2026, creating a domestic ecosystem to support industrial decarbonisation and reduce compliance costs.

Speaking on behalf of the steel industry, Mr. Ravinder Bhan observed that CBAM has emerged as a significant trade barrier for India’s steel sector, the world’s second-largest steel producer, with an installed capacity of around 220 million tonnes and a target of 300 million tonnes by 2030. He stressed that while leading steel manufacturers are investing heavily in decarbonisation technologies, MSMEs continue to face significant financial and technical challenges in meeting international verification requirements. He advocated internationally recognised carbon credits, affordable verification mechanisms, public procurement of green steel, accelerated deployment of green hydrogen and resource-efficient technologies, and greater diversification of export markets to safeguard India’s competitiveness.

Sharing the broader policy perspective, Mr. R. R. Rashmi said that India’s response to CBAM should go beyond compliance and focus on building a strong domestic carbon governance framework. He called for establishing a nationwide emissions inventory and data management system, mandatory energy and emissions reporting, and cost-effective MRV mechanisms covering industries of all sizes. He also recommended mutual recognition of Indian verification agencies with the European Union and the creation of a dedicated carbon transition support fund under India’s Carbon Credit Trading Scheme to help industries, particularly MSMEs, invest in cleaner technologies and improve their global competitiveness.

Mr. Ajay Sharma, Joint Director, National Accreditation Board for Certification Bodies (NABCB), highlighted the pivotal role of accreditation, conformity assessment and internationally recognised certification systems in enabling Indian industry to meet evolving global sustainability requirements. He emphasised that strengthening India’s domestic verification ecosystem and building internationally credible accreditation mechanisms will be critical to ensuring reliable Measurement, Reporting and Verification (MRV), reducing compliance costs and enhancing the global acceptance of Indian exporters in carbon-regulated markets.

A common theme across the inaugural session was the need for India to transition from awareness to action by strengthening domestic carbon markets, expanding access to green finance, promoting clean technologies, reducing compliance costs for MSMEs and creating internationally credible emissions reporting systems. Speakers agreed that while CBAM presents immediate challenges, it also offers an opportunity to modernise India’s manufacturing sector, accelerate decarbonisation and enhance long-term global competitiveness.

The conference continued with two insightful technical sessions on “CBAM Compliance & India’s Industrial Readiness” and “Industrial Decarbonisation, Clean Tech & Green Finance”, bringing together leading policymakers, industry experts, financial institutions and technology providers to deliberate on practical pathways for carbon compliance, clean technology adoption, green finance, carbon markets and industrial decarbonisation. The conference concluded with a shared resolve among stakeholders to strengthen collaboration and accelerate India’s transition towards a sustainable, resilient and globally competitive manufacturing ecosystem, well-positioned to thrive in the emerging low-carbon global economy.

Welcoming the august gathering, Mr. R.K. Vij, Co-Chair, PHDCCI Textile Committee, Secretary General, PTAIA and National President, Textile Association of India, described the National Technical Textiles Mission (NTTM) as a transformative initiative that has provided the industry with the momentum to accelerate innovation and manufacturing. While appreciating the Ministry of Textiles for its industry-friendly policies and collaborative approach, he urged the Government to address the GST inverted duty structure on man-made fibres and rationalize duties on key raw materials such as PTA and MEG to improve liquidity, enhance competitiveness and unlock the sector’s growth potential. He called for closer industry-government collaboration to position India not only as a global manufacturing hub but also as a global innovation leader in technical textiles.

Delivering the address the Chief Guest, Shri Pabitra Margherita, Hon’ble Minister of State for Textiles, Government of India, said that the growing focus on fitness, healthcare and sports through initiatives such as Khelo India, Fit India Movement and TOPS is creating unprecedented demand for high-performance sportech products. He highlighted that India’s technical textile exports have grown from ₹8,827 crore in FY 2013–14 to ₹28,392 crore in FY 2024–25, reflecting the sector’s strong global competitiveness. He further noted that under the National Technical Textiles Mission, more than 180 research projects have been approved to strengthen innovation and manufacturing, while the PLI Scheme for Textiles has attracted investments exceeding ₹5,500 crore. Reaffirming the Government’s vision of achieving USD 100 billion in textile exports and a USD 350 billion textile market by 2030, he called upon industry, academia and research institutions to work collectively towards making India a global leader in technical textiles under Viksit Bharat 2047.

The guest of honor Ms. Manisha Chatterjee, Joint Secretary, Ministry of Textiles, Government of India, emphasized that the National Technical Textiles Mission has now entered a phase of large-scale implementation, shifting the focus from research to commercialization. She highlighted initiatives such as the PRAMAN guidelines, strengthening of testing infrastructure, international standardization and targeted support for MSMEs to bridge the gap between laboratory innovations and market-ready products. She informed that six research projects and one start-up have already been approved under the Sportech segment of NTTM, while stressing that reducing import dependence in high-performance sports textiles presents a significant opportunity for Indian manufacturers.

Speaking as the conference, Dr. Harish K. Chatterjee, Director General, Wool Research Association, highlighted the convergence of technical textiles, electronics, smart sensors and data analytics in shaping the future of sportech. He said India possesses the right ecosystem to emerge as a global hub for high-performance sports textiles through its strong manufacturing base, expanding synthetic fibre ecosystem, growing start-up landscape and government support. He also highlighted the Association’s work in developing indigenous smart textile solutions, internationally accredited testing facilities, technology transfer, start-up incubation and sustainable innovations to strengthen India’s global competitiveness.

Mr. Debabrata Ghosh, Vice President & Sales Director, Barmag India Pvt. Ltd., highlighted India’s immense growth potential in the activewear and sportech segment, stating that the country’s activewear yarn market is projected to grow at a CAGR of over 10% between 2026 and 2035, significantly outpacing China. He observed that the India–UK Free Trade Agreement, supportive government policies and expanding textile infrastructure offer a significant opportunity for Indian manufacturers to become global suppliers of high-value technical textiles. Stressing the importance of advanced bi-component fibre technologies, he called for strengthening domestic manufacturing capabilities to reduce import dependence and establish India as a preferred sourcing destination in the global sportech value chain.

Concluding the inaugural session, Mr. Shantanu Agarwal, Co-Chair, PHDCCI Textile Committee & Joint Managing Director, Maral Overseas Ltd., expressed gratitude to the Ministry of Textiles, the National Technical Textiles Mission, the Wool Research Association, industry partners and stakeholders for their support in making the conference a success. He said the conference had evolved into a meaningful platform for policy dialogue, technology exchange and industry collaboration, urging participants to convert discussions into actionable partnerships that would accelerate the growth of India’s technical textiles sector.

The conference also featured engaging technical sessions on “Sportech Deep Dive,” “Sportech Value Chain: Sourcing, Standardization and Scaling,” “Scaling the Technical Textiles Ecosystem: Investment, Start-ups and Market Expansion,” and “From Import Dependence to Atmanirbhar Sports Manufacturing.” Alongside the conference, an exclusive Technology & Innovation Exhibition showcased breakthrough products, smart textiles, advanced manufacturing technologies, research-led innovations and promising start-ups, highlighting India’s rapidly evolving capabilities across the technical textiles value chain. The deliberations and exhibition together fostered meaningful collaboration among policymakers, industry leaders, researchers, investors, academia and entrepreneurs, reinforcing India’s commitment to innovation, self-reliance and global leadership in technical textiles under the vision of Viksit Bharat 2047.

The policy introduces fiscal incentives for electric vehicles, exemptions from road tax and registration charges for eligible vehicles, scrappage incentives for older vehicles, a significant expansion of charging infrastructure, and a phased transition towards electric mobility across various vehicle categories. The government has also announced a proposed investment of around ₹15,000 crore to support the development of the EV ecosystem during the policy period.

“The Policy reinforces the role of clean mobility as a key driver of Delhi’s future economic growth and sustainable urban development. By providing greater policy certainty, it is expected to improve the investment climate, accelerate innovation in electric mobility technologies, expand domestic manufacturing, and create employment across the EV ecosystem. At the national level, the Policy aligns with India’s broader objective of strengthening globally competitive manufacturing through the Make in India initiative”, said Rajeev Juneja, President, PHDCCI.

The policy extends well beyond promoting electric vehicle adoption and has the potential to stimulate investments across multiple sectors, including battery manufacturing, charging infrastructure, renewable energy integration, power distribution, electronics, automotive components, software solutions, fleet management, financing, recycling and circular economy services.

Key Highlights & Provisions

The Delhi EV Policy 2.0 (running through 2030) introduces ambitious subsidies, scrappage benefits, and stricter mandates to promote greener transport.

1.      Tax Exemptions: 100% waiver on road tax and registration fees for EVs priced up to ₹30 lakh (ex-showroom).

2.      Purchase Subsidies: Incentives of up to ₹30,000 for electric two-wheelers and up to ₹50,000 for three-wheelers.

3.      Scrappage Incentives: Up to ₹1 lakh incentive for scrapping old BS-IV or older cars.

4.      Deadlines for ICE Vehicles: No petrol motorcycles/scooters can be registered after March 31, 2028, and new CNG auto-rickshaw registrations are set to stop at the end of 2026.

5.      Charging Network: Expanded infrastructure mandates that require every EV dealership to host public charging stations.

“The planned expansion of public charging facilities and battery-swapping infrastructure is expected to stimulate investment across multiple segments of the electric mobility ecosystem. Opportunities are likely to emerge for infrastructure developers, private investors, technology firms, and start-ups engaged in EV-related services. As electric vehicle adoption accelerates, demand is also expected to rise for advanced battery technologies, power electronics, semiconductors, charging hardware, digital payment platforms, predictive maintenance applications, and intelligent energy management solutions”, said Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI.

The policy will deliver important macroeconomic benefits through reduced dependence on imported fossil fuels, lower urban emissions, improved public health outcomes and increased private investment in future-ready industries. The policy is also expected to encourage innovation in electric mobility technologies while supporting India’s commitments towards sustainable development and the transition to a low-carbon economy.

Further, the policy aligns with several national initiatives, including the Production Linked Incentive (PLI) Schemes for the automobile and Advanced Chemistry Cell (ACC) battery sectors, the National Electric Mobility Mission and India’s target of achieving net-zero emissions by 2070. Together, these initiatives can strengthen domestic value addition, enhance supply chain resilience and improve India’s competitiveness in the global EV market.

PHDCCI works closely with policymakers, and industry stakeholders to support effective implementation of the policy and facilitate the development of a robust, competitive and sustainable electric mobility ecosystem that contributes to economic growth, industrial transformation and environmental sustainability.

“The increase in wholesale inflation in April 2026 was largely driven by a sharp rise in energy and petroleum-related prices, which also contributed to higher input costs across several manufacturing segments. In contrast, food-related wholesale inflation remained relatively moderate compared with recent periods of raised volatility said Mr. Rajeev Juneja, President, PHDCCI.”

The WPI Fuel & Power group recorded inflation of 24.71 per cent in April 2026, up from 1.05 per cent in March 2026. Crude petroleum and natural gas inflation rose significantly to 67.18 per cent, while petrol and high-speed diesel inflation increased to 32.40 per cent and 25.19 per cent respectively.

Global Brent crude prices witnessed a high surge reflecting heightened geopolitical risk, supply disruptions, and tightening global energy markets, he added.

Primary Articles inflation increased to 9.17 per cent in April 2026, supported by higher prices of crude petroleum & natural gas, food articles, and minerals. Manufactured Products inflation also strengthened to 4.62 per cent, reflecting broad-based increases across several industrial groups including basic metals, chemicals, textiles, machinery and food products.

On a month-on-month basis, the headline WPI increased by 3.86 per cent in April 2026 over March 2026, with Fuel & Power registering a substantial monthly increase of 18.22 per cent.

The WPI Food Index rose modestly to 2.31 per cent in April 2026 from 1.85 per cent in March 2026. Within food categories, inflation remained contained in cereals and pulses, while prices of vegetables and fruits recorded mixed movements. Onion prices continued to remain lower on a year-on-year basis, while milk and protein-based food items registered moderate increases.

Among manufactured products, inflation in basic metals increased to 7.00 per cent, textiles to 7.30 per cent, and chemicals and chemical products to 5.09 per cent, indicating rising cost pressures across industrial supply chains.

The provisional WPI index for All Commodities stood at 167.0 in April 2026, compared with 160.8 in March 2026. The final WPI inflation rate for February 2026 was revised to 2.26 per cent.

DPIIT stated that the WPI for April 2026 was compiled with a weighted response rate of 96.7 per cent. The provisional figures are subject to revision in line with the established revision policy.

“Going forward, movements in global energy prices, commodity markets, and supply chain conditions will remain important determinants of wholesale price trends. The evolving trajectory of fuel costs and transmission into manufacturing and transport sectors will continue to be monitored closely in the coming months says Dr. Ranjeet Mehta, SG & CEO, PHDCCI

The scheme provides government-backed credit guarantees to banks and financial institutions, enabling faster and collateral-free emergency lending to eligible businesses, he added.

ECLGS is designed to address temporary liquidity shortages faced by industries during periods of economic stress by reducing lending risk for financial institutions through sovereign-backed guarantees to enable continued credit flow to viable businesses across manufacturing, services, trade, logistics, healthcare, hospitality, aviation, and among others.

Under the scheme, eligible firms are able to access additional working capital support without the requirement of fresh collateral which will help industries meet operational expenses, maintain production cycles, pay suppliers, and retain employees, he added

The availability of guaranteed emergency credit will help MSMEs:

• Maintain working capital operations
• Continue wage payments
• Procure raw materials
• Prevent supply-chain disruptions
• Avoid insolvency and business closures

“Further, the scheme will play an important role in stabilizing industrial supply chains and protecting employment. By ensuring continuity of credit production stoppages are reduced, vendor payment cycles are maintained and large-scale layoffs were mitigated”, added Juneja

The government guarantee mechanism supports financial-sector stability by encouraging banks and non-banking financial institutions to continue lending during uncertain economic environment. The scheme continues to be regarded as one of India’s largest emergency credit-support interventions aimed at safeguarding industrial activity, MSME resilience, and employment continuity said Dr. Ranjeet Mehta, SG & CEO, PHDCCI.

India’s foodgrain production is projected to reach approximately 368 MMT by 2030–31, and while current storage capacity remaining lower, a quick response framework is needed to encourage investment in this industry.  This integrated approach of converting market intelligence into actionable financial modelling positions this initiative as a first-of-its-kind industry toolkit related to agricultural logistics.

PHDCCI’s latest effort bridges a critical gap between market analysis and project execution. The newly released financial model takes this further and translates market opportunity into implementable market entry strategy with clear financial metrics.

The new report and model provides:

·         A standardised project template that can be used by both investors and Government of India’s PPP initiative

·         Detailed capex, opex, revenue, and financing structures

·         Bankable projections of cash flows, returns, and debt servicing

This makes the report not just analytical—but directly usable for investment decisions, DPR (Detailed Project Feasibility Report) preparation, and financial closure. The report is backed by a financial model which is structured as a plug-and-play tool that helps investors to move quickly from concept to decision-making.

It also provides standardized financial inputs that can be directly used for bank financing proposals, public-private partnership (PPP) bids, and leveraging schemes such as the Agriculture Infrastructure Fund (AIF).

PHDCCI stated that this initiative represents a new approach to policy advocacy—moving beyond recommendations to execution-ready solutions by combining industry market research report with financial modelling, with the aim to catalyse faster project implementation, and greater private investment.

A technology-driven storage infrastructure is essential to support India’s transition toward a more efficient agricultural value chain to reduce wastage and creation of value added products both for domestic as well as export markets said Mr. Rajeev Juneja, President, PHDCCI.

Addressing the session Sh. Arvind Shrivastava, IAS, Revenue Secretary, Ministry of Finance, said the Union Budget 2026–27 marks a structural redesign of India’s tax administration framework, aimed at empowering taxpayers while reducing procedural friction and discretionary intervention. He highlighted reforms such as extended timelines for revised and updated returns, the ability to update returns even during reassessment proceedings, combined issuance of assessment and penalty orders, and settlement mechanisms to reduce disputes. He also outlined the transition from transaction-based scrutiny to trust-based, entity-level compliance supported by digital systems, audits and risk-based monitoring for importers, exporters, authorised economic operators and customs warehouses.

The macroeconomic context of the Budget was outlined by Dr. V. Anantha Nageshwaran, Chief Economic Adviser, Government of India, said the Budget continues the accelerated reform momentum underway since early 2025 and reflects strong alignment with the Economic Survey. He highlighted the emphasis on urbanisation with cities as economic systems, sustained support for MSMEs through credit guarantees, payment discipline and dedicated manufacturing funds, and targeted policy backing for manufacturing in a geopolitically fragmented world. He also pointed to continued fiscal consolidation, record infrastructure investment of ₹12.2 lakh crore and improving sovereign credit metrics that together support stable, non-inflationary growth.

Speaking on growth and industry impact, Sh. Anil Gupta, Senior Vice President, PHDCCI, said the Budget has been presented at a pivotal moment for the Indian economy and reinforces the Government’s commitment to fiscal prudence, growth acceleration and the vision of Viksit Bharat. He highlighted the strong focus on capital expenditure, infrastructure and manufacturing, including measures such as the ₹10,000 crore SME Growth Fund, revival of legacy industrial clusters and the Viksit Bharat Rozgar Yojana, alongside the positive impact of recent trade agreements on industry and employment.

Sharing industry feedback on direct taxes, Sh. Mukul Bagla, Chair, Direct Taxes Committee, PHDCCI, said the Budget reflects constructive stakeholder engagement, with several industry recommendations incorporated. He highlighted measures such as reduction in TCS rates, extended timelines for revised and updated returns, taxation of buyback proceeds as capital gains, exemption for compulsory acquisition of land, rationalisation of penalties and a lower stay-of-demand requirement, all of which enhance certainty and reduce litigation. He also flagged concerns around high effective personal tax rates, delays in faceless appeals and challenges in rectifying legacy demands, calling for further administrative improvements.

Sh. Ashok Batra, Chair, Indirect Taxes Committee, PHDCCI, said the indirect tax proposals address several long-pending industry concerns despite a limited number of amendments. He highlighted the redefinition of intermediary services to allow export benefits, faster provisional refunds in inverted duty cases, and rationalisation of post-sale discount provisions as measures that will significantly reduce GST litigation. He also welcomed customs duty rationalisation, extended validity of advance rulings, simplified warehousing procedures and relief measures for exporters, while underscoring the need for early resolution of legacy GST disputes.

Sh. Gurmeet Chadha, Chair, BFSI Committee, PHDCCI, said the Budget underscores the quality of government borrowing, with net borrowing broadly aligned with capital expenditure, signalling a clear focus on infrastructure-led growth rather than revenue spending. He noted that India’s macroeconomic position remains structurally strong with high growth and low inflation, and welcomed the momentum in trade negotiations as a positive signal for long-term investors and capital markets.

Ms. Pallavi Dinodia, Co-Chair, Direct Taxes Committee, PHDCCI, said Budget 2026 represents a decisive shift towards a simplified and trust-based tax regime. She welcomed the implementation of the new Income Tax Act from 1 April 2026, streamlined return-filing timelines, the one-time foreign asset disclosure amnesty, rationalisation of TCS on foreign remittances and alignment of ICDS with Ind AS. She emphasised that timely notification of rules and faster disposal of pending appeals will be critical to deliver the intended ease of compliance.

Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI, said the Union Budget 2026–27 reflects months of rigorous institutional effort, extensive data analysis and continuous stakeholder consultation. He placed on record PHDCCI’s appreciation for the team led by Hon’ble Finance Minister Smt. Nirmala Sitharaman and emphasised that effective on-ground implementation through close government–industry partnership will be critical to translating policy intent into tangible outcomes.

On the occasion, PHDCCI released its analytical publication on Union Budget 2026–27, outlining the Budget’s fiscal stance, capital expenditure strategy, infrastructure and manufacturing priorities, employment initiatives and the evolving framework for federal finances, while the discussions underscored that effective implementation and sustained government–industry collaboration will be crucial to translating these policy measures into tangible economic outcomes.

The seminar focused on the practical implications of the Digital Personal Data Protection Act, 2023, and the evolving compliance landscape, with particular emphasis on identifying organisational blind spots before regulatory penalties come into effect. The event witnessed participation from over 75 paid delegates representing diverse industries, fostering insightful discussions and practical learning.

Welcoming the dignitaries and participants, Ms. Babeeta Sharma, Director, PHDCCI, highlighted the significance of the Digital Personal Data Protection (DPDP) Act and explained why DPDP compliance often fails in practice. She introduced the concept of “blind spots” that organisations frequently overlook while implementing data protection frameworks.

Ms. Shruti Dwivedi Sodhi, Partner, Khaitan Legal Associates, brought a seasoned practitioner’s perspective on the Digital Personal Data Protection Act, 2023. Drawing from her extensive experience advising MSMEs and startups on end-to-end data protection compliance and governance, she highlighted common blind spots across business operations and shared insights on building data protection frameworks that are realistic, scalable, and regulator-ready.

Sharing implementation-focused insights, Ms. Purvi Morwal, Associate, Khaitan Legal Associates, spoke from the trenches of execution. She discussed common implementation gaps and demonstrated how organisations can move from paper-based compliance to defensible and effective execution in day-to-day legal and operational practices.

Adding a crucial technology perspective, Ms. Sonia B. Kudchadkar, Partner, CNK & Associates LLP, focused on how technical and organisational measures can be effectively leveraged to achieve DPDP compliance. Bridging law and technology, she explained the critical role of security controls in meeting statutory obligations under the DPDP Act.

The seminar concluded with Mr. Gagan Kumar, Partner, Khaitan Legal Associates, who thoughtfully summarised the key aspects of the Digital Personal Data Protection Act, 2023 discussed during the session and extended a sincere vote of thanks to all speakers and participants for their valuable contributions.

The seminar was efficiently coordinated by Ms. Minakshi Srivastava, Deputy Secretary, PHDCCI, ensuring its smooth and successful conduct.