Nris Applaud India Budget 2026 Push, Welcome Business-Friendly Measures

(MENAFN- Khaleej Times) India's Budget 2026 has sparked strong reactions from UAE-based Indian business leaders, who broadly welcomed its emphasis on capital spending, reform continuity and measures aimed at boosting NRI participation.

Many see the budget as reinforcing India's medium-term growth trajectory while maintaining fiscal discipline amid global uncertainty.

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While most leaders praised the reform momentum and investment focus, some also highlighted the need for sharper sectoral execution and market-friendly tax adjustments. Here are the key reactions from prominent UAE-based Indian business figures:

Yusuff Ali MA, chairman, LuLu Group International:“Budget 2026 sends a strong signal on tax simplification, youth empowerment and long-term investment-led growth. The easing of Portfolio Investment Scheme rules and higher foreign holding limits will encourage more NRIs to participate directly in India's growth story. The focus on AI, MSMEs and infrastructure also reinforces India's ambition to become a global manufacturing and technology powerhouse.”

Dr Azad Moopen, founder and chairman, Aster DM Healthcare:

“The Budget presents a future-ready healthcare roadmap. The Biopharma Shakti initiative and customs duty exemptions on critical cancer drugs will boost innovation and patient access. Expansion of district hospitals, new AIIMS facilities and large-scale skilling of healthcare professionals will strengthen India's healthcare ecosystem and position the country as a global medical hub.”

Siddharth Balachandran, chairman, Indian Business and Professional Council:

“The Budget strikes a fine balance between growth, governance and reforms. Higher capex and the push for next-generation revenue drivers such as data centres are encouraging. Recognition of AI and deep tech at the macro level is timely. Pro-NRI measures are a pleasant surprise, while the STT hike in derivatives is tough but necessary. Overall, it supports fiscal discipline while aiming to lift GDP growth.”

Thumbay Moideen, founder president, Thumbay Group:

“Budget 2026 reinforces India's commitment to healthcare infrastructure, medical education and digital enablement. What matters now is execution at scale. For institutions with strong global linkages, this budget opens fresh opportunities to collaborate, invest and support India's emergence as a healthcare and knowledge powerhouse.”

Adeeb Ahamed, managing director, LuLu Financial Holdings:

“The Budget prioritises stability and regulatory clarity. Higher PROI investment limits, simpler TDS procedures for NRI property sales and lower TCS on overseas remittances reduce compliance friction. However, stronger clarity on financial services reforms and a more integrated tourism growth strategy would have further strengthened the medium-term outlook.”

Kamal Vachani, deputy CEO, Al Maya Group:

“The Budget supports economic stability and manufacturing expansion. India Semiconductor Mission 2.0 and the Rs10,000 crore SME Growth Fund will strengthen supply chains and support high-growth enterprises. Increased allocation for electronics component manufacturing will accelerate domestic production and reduce import dependence.”

James Mathew, CEO and managing partner, UHY James:

“Lower fiscal deficit targets combined with higher capital expenditure underline India's reform momentum. Tax incentives for data centres and uniform IT service norms enhance investor confidence. Budget 2026 reinforces policy stability, infrastructure expansion and a balanced growth approach with controlled inflation.”

Jai Prakash Agarwal, chairman, ICAI Dubai Chapter:

“Though there were no major tax changes for NRIs, the Budget signals ease of doing business. Doubling investment limits, lowering TCS on overseas remittances and simplifying TDS compliance for property sales will make it easier for NRIs to invest and participate in India's growth journey.”

Navin Kapoor, owner & MD of Xpertize United:“The theme of the ninth consecutive budget presented by Nirmala Seetharaman can be characterised as a step forward towards maintaining caution due to geopolitical tensions but being optimistic about making India the third largest economy of the world. Capital outlays in rare earth mining, semiconductors and bio pharma would enable India to take lead in Ai and bio pharma products. A big push to tourism through establishment of 15 archeological sites is commendable.

Sajith Kumar PK, IBMC Financial Professionals Group – CEO:

“Budget 2026 reflects a sector-diversified approach aligned with the 'Viksit Bharat 2047' vision. From MSMEs to large infrastructure projects, the focus on PPP models and private sector participation will help build a self-sustaining and resilient Indian economy.”

“The Budget supports innovation, startups and MSMEs across urban and rural India, aligned with India-Gulf and India-Europe trade agreements. Simplified compliance and expanded PIS limits will help channel overseas savings into India's long-term growth.”

Anuj Puri, chairman, Anarock Group:

“Budget 2026 is capex-driven and structurally pro-investment. REIT-led monetisation of CPSE assets, data centre incentives and Tier-2 and Tier-3 growth focus will support real estate demand. However, the absence of direct affordable housing incentives is a missed opportunity for inclusive urban growth.”

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