Industry bodies welcome Union Budget 2026-27, see major boost for Assam & NE

GUWAHATI, Feb 2: Industry bodies in the region have welcomed the Union Budget 2026-27, saying that it provides a positive and enabling policy environment for industries across sectors and regions, including the north-eastern region, and will contribute significantly to inclusive and sustainable economic growth.

Mahesh Saharia, chairman of the North East India Regional Council of the Indian Chamber of Commerce (ICC), welcomed the 47 percent increase in allocation for the Ministry of Development of North Eastern Region (DoNER), taking the total allocation to Rs 5,915 crore. He stated that this enhanced funding will play a crucial role in strengthening infrastructure, social development, and economic capacity across the Northeast.

Bhaskar Phukan, chairman, CII Assam State Council and managing director of Numaligarh Refinery Limited, stated that the Buddhist circuit initiative in the Northeast is a significant step towards unlocking the region's cultural and tourism potential. He mentioned that the announcement to promote the agarwood sector in the Northeast will strengthen sustainable cultivation, value addition and exports, creating rural livelihoods and supporting MSME growth, particularly in Assam and Tripura.

Ranjit Barthakur, chairman, FICCI Northeast Advisory Council, said the continued emphasis on public capital expenditure, manufacturing, MSMEs, and infrastructure provides a solid foundation for long-term growth and employment generation.

"The push towards expanding national inland waterways and promoting multimodal logistics is extremely important for the Northeast, partiularly Assam," he said.

Larsing Sawyan, co-chairman, FICCI Northeast State Council, said the focus on tourism, sports, skilling and agriculture will help create livelihood opportunities at the grassroots level.

The Federation of Industry & Commerce of North Eastern Region (FINER) welcomed the government's "persistence on reform over rhetoric and its maintaining fiscal discipline bedrock".

The focus on MSMEs, including the creation of Champion SMEs and the proposed Rs 10, 000 crore SME Growth Fund, is expected to improve access to finance and strengthen the backbone of the economy, the industry body said.

Assam Chamber of Commerce chairman Rupam Goswami said the Budget strengthens the growth path for Northeast. He said the Budget's focus on infrastructure expansion, enhanced connectivity, tourism promotion, healthcare strengthening, and livelihood generation will significantly contribute to unlocking the region's immense economic and social potential.

AREIDA president PK Sharma said the Budget's emphasis on Tier II and Tier III cities, as well as temple towns, supported by significant allocations for modern infrastructure and basic amenities, is encouraging.

By

Staff Reporter