New Delhi

The Indian business community remains upbeat about the country's economic outlook, even amid global uncertainties, according to the ‘Pre-Budget Survey 2026-27’ released by the Federation of Indian Chambers of Commerce and Industry (FICCI). Nearly 80 per cent of respondents expressed confidence in India’s growth prospects, with half expecting GDP growth of 7–8 per cent in the coming fiscal year.

The survey underscores faith in India’s medium-term economic fundamentals and highlights the importance of the government’s fiscal consolidation plans. Ahead of the Union Budget, industry leaders identified job creation, infrastructure expansion, and export promotion as the top macroeconomic priorities. To bolster manufacturing, FICCI recommended establishing a “mega electronics industrial cluster” to bring together OEMs, EMS firms, and component suppliers. Defence modernisation was also emphasised, with a suggestion to increase capital expenditure to 30 per cent of defence allocations to strengthen UAVs, AI-enabled capabilities, and electronic warfare systems.

With global trade tensions and evolving regulations posing challenges, businesses called for stronger export support. The survey recommended simplifying customs processes, addressing logistics bottlenecks, and rationalising tariff slabs into three levels to cut compliance costs. There were also calls for higher allocations under the RoDTEP scheme to maintain competitiveness in international markets.

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On the regulatory front, respondents stressed the need for simplified compliance, digitisation, and tax certainty, along with improved dispute resolution and litigation management. Overall, the report indicates that industry expects the upcoming budget to balance growth with fiscal prudence while pushing reforms that integrate India more deeply into global value chains.