Budget 2026 technology and semiconductor push shapes outlook for HMD, Fujitsu, STT GDC, Ensono, BenQ, Cellecor, CP PLUS, Hisense, Moglix, Energy Bots and others

Ravi Kunwar of HMD, Manoj Nair of Fujitsu, Bimal Khandelwal of STT GDC, Veena Khandke of Ensono, Rajeev Singh of BenQ, Ravi Agarwal of Cellecor, Aditya Khemka of CP PLUS, Pankaj Rana of Hisense, Rahul Garg of Moglix and Murali Mantravadi of Energy Bots respond to India Semiconductor Mission 2.0, electronics manufacturing incentives, data centre tax relief and AI-led digital infrastructure priorities in Union Budget 2026–27

The Union Budget 2026–27 positions technology, electronics manufacturing, semiconductors, data centres and artificial intelligence as strategic pillars of India’s long-term growth and competitiveness. Announcements around India Semiconductor Mission 2.0, a ₹40,000 crore allocation for the Electronics Components Manufacturing Scheme, tax holidays for global cloud service providers operating from India, safe harbour reforms for IT services, and a renewed focus on AI-led skilling and digital public infrastructure reflect a shift from scale-driven expansion to capability-led development. Leaders across consumer technology, IT services, electronics manufacturing, cloud infrastructure, data centres and digital platforms have shared their perspectives on how these measures could reshape India’s technology ecosystem.

Ravi Kunwar, Vice President and CEO of HMD India and APAC, said the Budget reflects a broad and forward-looking vision across technology, telecom and manufacturing. He noted that the enhanced allocation for the Electronic Components Manufacturing Scheme will support multiple verticals, while the launch of India Semiconductor Mission 2.0 with a focus on industry-led R&D and training centres is a welcome step. Kunwar added that customs warehousing reforms and the emphasis on education-to-employment alignment will help reduce friction and strengthen workforce readiness.

Manoj Nair, Head of Applications at Fujitsu, commented that the Budget strongly reinforces India’s ambition to emerge as a global technology hub. He said the positioning of artificial intelligence as a force multiplier, combined with support for data centres and semiconductor manufacturing, will help build a resilient and future-ready digital ecosystem. Nair also noted that automated safe harbour mechanisms improve tax certainty for IT services companies.

Bimal Khandelwal, Chief Executive Officer of STT GDC, said the Union Budget represents a decisive intervention for India’s data centre sector. He observed that the proposed tax holiday till 2047 for foreign cloud providers using Indian data centres is expected to unlock foreign investment, attract hyperscale workloads, and enhance India’s competitiveness as a global digital infrastructure destination.

Veena Khandke, Senior Vice President and Managing Director of Ensono India, said the expansion of the safe harbour threshold to ₹2,000 crore and faster advance pricing agreements bring much-needed tax certainty for IT services. She added that the tax holiday for cloud service providers and the focus on AI, quantum computing and STEM education will help build future-ready talent and attract global technology investment.

Rajeev Singh, Managing Director of BenQ India and South Asia, said the Budget makes a clear statement on reimagining education as a driver of employability and economic growth. He noted that content creator labs in schools and university townships near industry corridors will support hands-on, technology-enabled learning and strengthen the digital education ecosystem.

Ravi Agarwal, Co-Founder and Managing Director of Cellecor, commented that the near doubling of the Electronics Components Manufacturing Scheme outlay strengthens India’s consumer electronics manufacturing base. He said the expansion of India Semiconductor Mission 2.0 into a full-stack programme covering materials, equipment, design and R&D sends a strong signal to global and domestic manufacturers.

Pankaj Rana, Chief Executive Officer of Hisense India, said the Budget outlines a forward-looking roadmap for electronics and innovation. He noted that sustained policy focus on semiconductors, electronics components and AI-led innovation creates a stable environment for long-term investments and localisation.

Aditya Khemka, Founder and Managing Director of CP PLUS, said the Budget signals a decisive shift toward building domestic capability in technology and security systems. He observed that the emphasis on AI and semiconductor self-reliance enables Indian companies to design and deploy mission-critical solutions at scale.

Rahul Garg, Founder and Chief Executive Officer of Moglix, said the Budget’s focus on artificial intelligence, quantum research and innovation-led missions strengthens India’s technology backbone. He noted that these investments will enable AI adoption across manufacturing optimisation, procurement automation and supply chain forecasting.

Murali Mantravadi, Joint Managing Director of Energy Bots Flosenso, observed that the Budget reflects a structural shift toward building deeper technology capabilities beyond services. He said sustainable advantage will come from owning design, supply chains and execution, with execution now being the key test.

Satya Yeruva, Co-Founder and CEO of FinStackk, said the expansion of the safe harbour threshold for IT services simplifies compliance and reduces uncertainty across companies of all sizes. He added that the ₹10,000 crore growth fund for startups and MSMEs will support innovation and global expansion for technology-driven businesses.

Sundararaman Ramamurthy, Managing Director and CEO of BSE, commented that measures aimed at deepening bond markets, adjusting STT structures and supporting capital formation will have a positive long-term impact on India’s technology and innovation-led companies seeking market access.

Amit Sharma, Founder and Whole Time Director of Matrix Geo Solutions, said the Budget reinforces the growing role of data, geospatial intelligence and digital planning in large infrastructure and technology-led projects, supporting more precise and efficient execution.

Aditya Prabhu, CEO and Co-Founder of Secutech Automation, said the Budget reinforces the convergence of digital transformation, AI adoption and infrastructure expansion. He noted that technology-led efficiency and improved credit flow will accelerate adoption of intelligent security systems.

Mrs. Veena Khandke, Senior Vice President and Managing Director of Ensono India, said the emphasis on workforce development, AI upskilling and STEM education for women supports the creation of a future-ready technology talent pool.

Mr. Murali Mantravadi, Joint Managing Director of Energy Bots Flosenso, said the continued focus on semiconductor manufacturing and electronic components signals an intent to build long-term structural capability rather than short-term scale.

Mr. Rajeev Singh, Managing Director of BenQ India and South Asia, noted that continued support for domestic manufacturing and semiconductors will strengthen the foundation for digital classrooms and enterprise technology adoption.

Mr. Ravi Agarwal, Co-Founder and Managing Director of Cellecor, added that employment-linked skilling initiatives will help create a sustainable manufacturing and service workforce across electronics ecosystems.

Mr. Aditya Khemka, Founder and Managing Director of CP PLUS, observed that clarity in policy direction enables homegrown companies to innovate locally while remaining globally competitive.

Mr. Pankaj Rana, Chief Executive Officer of Hisense India, said localisation and supply chain strengthening will be critical as India moves up the electronics value chain.

Mr. Rahul Garg, Founder and Chief Executive Officer of Moglix, added that emerging technologies will play a central role in improving productivity across traditional and advanced industries.

Taken together, responses from a wide cross-section of technology, electronics, IT services, data centre and digital infrastructure leaders indicate that Budget 2026–27 marks a decisive shift toward capability building and execution-led growth. With semiconductors, electronics manufacturing, cloud infrastructure and artificial intelligence positioned as long-term national priorities, industry stakeholders believe sustained execution, talent development and ecosystem readiness will determine how effectively policy intent translates into globally competitive outcomes.

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