India Inc seeks enablers for demand visibility

Wishlist includes privatisation pipeline, tax credits

- VIVEAT SUSAN PINTO & URVI MALVANIA

INDIA INC is seeking targeted policy support in the Union Budget to revive private capital expenditure, with industry leaders calling for demand-boosting measures, fiscal incentives and regulatory clarity to translate investment intent into on ground spending. Executives said the focus should be on sustaining growth amid tariff uncertainty and geopolitical risks, even as urban demand shows early signs of recovery and rural consumption remains resilient.

Harsh Mariwala, chairman of Marico, told FE that the Budget could help by rationalising customs duties and improving demand conditions.

"THEY DO WANT to invest. But they will do so if there is demand. Hopefully, with the GST rate rationalisation in place, there are signs of a demand pick-up. Once that happens, investment will kick in," he said.

The industry's wishlist, submitted through the Confederation of Indian Industry, includes a 12% year-on-year increase in government capex in FY27 to 12.6 lakh crore, a privatisation three-year pipeline, tax credits, faster land approvals for private investment and a national public-private partnership policy.