Achilles APAC Regional Director Smitha Shetty sees Budget 2026 as Boost to Industrial Competitiveness and Supply Chain Resilience

MUMBAI: Reacting to the Union Budget 2026, Ms. Smitha Shetty, Regional Director – APAC at Achilles Information Limited, said the Budget underscores India’s intent to build long-term industrial competitiveness by strengthening manufacturing capabilities and creating more resilient supply chains.

Commenting on key structural measures, Ms. Shetty highlighted initiatives such as Semiconductors Mission 2.0, dedicated rare earth corridors and support for domestic chemical clusters, noting that these reflect a clear policy focus on reducing import dependence in strategic sectors that are increasingly shaping global production systems.

“Union Budget 2026 reinforces India’s intent to build long-term industrial competitiveness through stronger manufacturing depth and more resilient supply chains. Semiconductors Mission 2.0, dedicated rare earth corridors, and support for domestic chemical clusters reflect a clear focus on reducing import dependency in strategic sectors that are shaping global production systems,” she said.

Ms. Shetty also welcomed the continued emphasis on MSME growth, particularly measures such as the ₹10,000 crore SME Growth Fund, additional micro-enterprise risk capital and reforms aimed at improving working capital efficiency through receivables financing and procurement-linked mechanisms.

Highlighting the ‘corporate mitras’ initiative, she noted that the move could play an important role in strengthening compliance readiness among smaller suppliers without adding undue burden, especially for enterprises operating in Tier 2 and Tier 3 cities.

“Importantly, the ‘corporate mitras’ initiative can help strengthen compliance readiness without overburdening smaller suppliers, especially in Tier 2 and Tier 3 cities. In an uncertain global trade environment, this is a balanced and forward-looking Budget,” Shetty added.