New Delhi, February 3, 2026 – The Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman, continues its emphasis on infrastructure-led growth with a record ₹12.2 lakh crore capital expenditure allocation, fiscal discipline targeting a 4.3% GDP deficit, and targeted sectoral reforms. Key announcements include the launch of Biopharma SHAKTI with a ₹10,000 crore outlay over five years to position India as a global biopharma hub, focus on tourism through a new National Institute of Hospitality and guide training, and establishment of a new National Institute of Design in eastern India to address skill shortages in the design industry.
Industry leaders from healthcare, tourism, and home interiors have welcomed these measures, viewing them as catalysts for innovation, affordability, employment, and expansion into Tier-II and Tier-III cities.
Biopharma SHAKTI Powers Healthcare Innovation and Affordability
The Biopharma SHAKTI initiative, aimed at strengthening India’s ecosystem for biologics, biosimilars, and advanced therapies, drew strong praise for tackling the rising burden of chronic diseases like cancer, diabetes, and geriatric conditions.
Reny Varghese, COO of Zynova Shalby Hospital, Mumbai, highlighted its potential for inclusive growth.
“Finance Minister Nirmala Sitharaman’s announcement of Biopharma Shakti with an outlay of ₹10,000 crore is a welcome and forward-looking move at a time when India is facing a rising burden of chronic diseases such as diabetes, cancer and age-related illnesses. To truly maximise its impact, this initiative can be further strengthened through strong public–private partnerships that bring together innovation, scale and on-ground healthcare delivery. India already has a solid foundation in biopharmaceutical capabilities, and focused support can help translate this strength into affordable therapies and better outcomes. Dedicated attention to healthcare-linked MSMEs and support systems like Care Mitra will be critical in extending benefits beyond metros, especially for cancer, diabetes and geriatric care. In parallel, integrating health-linked bio initiatives with India’s agricultural strengths can also support rural livelihoods. Also, dedicated care for India’s strong crops like Coconut and Cocoa will boost rural economy. Overall, Biopharma Shakti has the potential to drive inclusive growth while strengthening India’s healthcare ecosystem.”
Dr. Minnie Bodhanwala, CEO of Wadia Hospital, emphasized patient-centric reforms, including customs duty removal on critical cancer medicines and workforce development.
“The Union Budget 2026–27 outlines a thoughtful, patient-centric vision that responds to the real challenges Indian families face while accessing quality healthcare. One of the most meaningful announcements is the removal of customs duty on critical cancer medicines, as the high cost of treatment continues to be a major obstacle for many patients. For families managing long-term care, particularly children, expectant mothers and women with chronic or complex conditions greater affordability can improve treatment continuity and outcomes, reducing delays that often worsen disease progression. Equally important is the government’s focus on strengthening the healthcare workforce through the introduction of new allied health disciplines and large-scale training programmes. Well-trained allied professionals play a vital role in supporting doctors and nurses, improving patient safety, and enhancing overall care delivery within hospitals. This investment will help ease the growing pressure on healthcare institutions while improving service quality across both urban and semi-urban settings. The Biopharma Shakti initiative further reinforces India’s healthcare roadmap by encouraging innovation, advanced research and domestic manufacturing. As non-communicable diseases such as cancer, diabetes and cardiovascular disorders now account for the majority of the nation’s disease burden, access to affordable, next-generation therapies is critical. Strengthening India’s biopharmaceutical ecosystem can help bridge this gap and ensure timely, effective treatment for patients. At Wadia Hospitals, where paediatric and women’s healthcare form the core of our commitment, these measures strongly resonate with our mission of delivering world-class care that remains accessible and affordable. The Budget reflects a long-term investment in health as the foundation for resilient families, healthier communities and a stronger future for the nation.”
Mr. Harikrishna, Executive Director of Medicover Group Hospitals (India), noted operational benefits for hospitals.
“The Union Budget 2026–27 provides a strong operational push to healthcare delivery by addressing gaps that hospitals face on the ground. The Biopharma Shakti initiative will strengthen supply chains for biologics and advanced therapies, enabling faster access to quality treatments. Focus on clinical trial infrastructure, regulatory streamlining and medical device rationalisation will support smoother adoption of evidence-based care. Investments in digital health, telemedicine and workforce development will improve efficiency, reduce diagnostic delays and optimise patient flow across facilities. Expansion of tertiary care and rural health services will help decongest referral hospitals while lowering out-of-pocket expenses. Overall, the Budget supports scalable, cost-efficient and patient-centric healthcare operations across India.”
Tourism and Hospitality Sector Gains Momentum with New Institute and Affordability Measures
Announcements like the establishment of a National Institute of Hospitality, large-scale training of tourist guides, enhancement of trekking and heritage trails, and reduction of TCS on overseas tour packages to 2% were hailed for boosting domestic and outbound tourism.
Ms. Akansha Agarwal, Co-Founder & CMO of Int2Cruises, underscored the strategic focus.
“The Union Budget 2026 underscores the government’s strategic focus on strengthening India’s tourism sector. Initiatives such as the establishment of a National Institute of Hospitality, large-scale training of tourist guides, and the enhancement of trekking and heritage trails highlight a clear commitment to improving domestic travel experiences. At the same time, the reduction of TCS on overseas tour packages to 2% is a well-timed move that improves affordability and reinforces traveller confidence. Together, these measures are set to drive growth across both domestic and outbound tourism, promote premium travel segments such as cruises, and support the long-term development of a resilient tourism ecosystem.”
Home Interiors and Design Industry Set for Expansion in Emerging Markets
The budget’s support for MSMEs, establishment of a new National Institute of Design in eastern India through a challenge route, emphasis on future-ready skills and AI adoption, and infrastructure push in Tier-II and Tier-III cities were seen as game-changers for the organized home interiors sector.
Mr. Shezaan Bhojani, CEO & Co-founder of DesignCafe, pointed to growth opportunities.
“The Union Budget 2026 provides a significant impetus to India’s organised home interiors and renovation sector. Measures supporting MSMEs, the establishment of a new Design Institute in Eastern India, and a strong emphasis on future-ready skills and AI adoption within the services sector collectively encourage innovation, entrepreneurship, and technology-led growth. The focus on infrastructure development across Tier-II and Tier-III cities will expand the sector’s reach beyond major metros, enabling design and renovation businesses to serve a wider base of homeowners. Taken together, these initiatives are expected to enhance consumer confidence, stimulate housing demand, and accelerate the professionalisation of the interior design ecosystem while generating meaningful employment opportunities.”
The Union Budget 2026-27 reinforces India’s commitment to sector-specific reforms that drive employment, innovation, affordability, and inclusive development, aligning with the vision of Viksit Bharat by empowering key industries like healthcare, tourism, and design to contribute to sustained economic progress.
Last Updated on Tuesday, February 3, 2026 6:54 am by Startup Chronicle Team
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