India bets on homegrown manufacturing to weather global tensions
TL;DR Summary
India's 2026-27 budget prioritizes infrastructure-led growth and a manufacturing push in seven strategic sectors—including rare earths, semiconductors and data centres—with a new tax holiday for foreign cloud investments, no direct personal tax cuts, and a shift to lower debt-to-GDP by 2030-31; markets reacted negatively to a higher securities transaction tax amid global uncertainty.
- Rare earths and data centres: India pushes local industry as global tensions rise BBC
- India's finance minister projects modest fiscal consolidation in budget CNBC
- India raises infrastructure spending by 11.4% to record 12.2 trillion rupees for 2026-27 Reuters
- FAST, not furious: Amnesty on hidden foreign assets in Budget 2026 Times of India
- India’s budget bets on infrastructure, manufacturing amid global trade war Al Jazeera
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