“With India accelerating its renewable energy and energy-transition goals, the Union Budget 2026 should continue to support domestic manufacturing across solar PV modules, power electronics, motors, pumps and lighting solutions. Policy stability through consistent PLI frameworks, rationalisation of customs duties on critical raw materials, and incentives for backward integration, including components and upstream technologies, will be essential to reducing import dependence, strengthening supply-chain resilience, and building globally competitive manufacturing ecosystems.
Such measures can enhance cost efficiency, encourage long-term capacity creation and enable organised MSMEs to invest in technology, automation and localisation. A well-aligned policy framework that supports energy efficiency, clean manufacturing and skill development will help advance the objectives of Make in India and Atmanirbhar Bharat, while accelerating India’s transition towards a resilient, self-reliant and innovation-led manufacturing economy.”
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