THEBUSINESSBYTES
BUREAU
NEW DELHI,
FEBRUARY 1, 2026
Vedanta Ltd Chairman Anil Agarwal on Sunday
lauded the Union Budget 2026-27, describing it as a forward-looking and
growth-oriented roadmap that reinforces India’s economic resilience while
opening up fresh avenues for jobs, investment and innovation.
Reacting to the Budget announcements,
Agarwal said the government has struck the right balance between public
investment and long-term structural reforms. “This is a growth-oriented Budget,
with a clear focus on increasing public capital expenditure and boosting
manufacturing,” he said, adding that the emphasis on productive spending will
help sustain momentum across key sectors of the economy.
Highlighting the Budget’s inclusive
approach, Agarwal noted that it creates tangible opportunities for large
sections of society. “It is a Budget which creates opportunities for youth to
improve their livelihoods, women to become financially independent, and for
employment-intensive sectors like medical tourism to take off,” he said,
underlining the potential for job creation and skill development.
Agarwal particularly welcomed the
government’s focus on critical minerals and rare earths, calling it both timely
and strategic amid global supply chain uncertainties. “I welcome the
Government's keen attention to critical minerals and rare earths. The Rare
Earths Corridors for mining, processing, R&D, and manufacturing in Odisha,
Tamil Nadu, Andhra Pradesh, and Kerala will boost growth, employment, and
mineral security,” he remarked.
He also lauded the decision to exempt
import duty on capital goods used for processing critical minerals, saying,
“Import duty exemption on capital goods for critical minerals processing is
very timely in the current global scenario,” as it would encourage faster
capacity creation and strengthen India’s position in global value chains.
Referring to reforms in Special
Economic Zones, Agarwal said the increased flexibility would enhance
competitiveness. “The announcement on flexibility in SEZs, which will permit
some sales in the domestic market, is an excellent move,” he observed, noting
that it would help industries respond better to domestic demand while remaining
export-oriented.
Congratulating the leadership for
navigating challenging global conditions, the Vedanta Ltd. Chairman concluded,
“I congratulate the Prime Minister and Finance Minister for continuing to steer
the Indian economy with a very steady hand in uncertain times.”
