Capital Expenditure Rise, EV Incentives Highlighted in Union Budget 2026: SIAM
Union Budget 2026–27 strengthens India’s manufacturing, infrastructure, and EV ecosystem, SIAM said.
Shailesh Chandra, President of SIAM and MD & CEO, Tata Motors Passenger Vehicles Ltd, welcomed the increase in capital expenditure to ₹12.2 lakh crore, saying it would drive industrial activity and demand, particularly in the automobile sector.
He highlighted support for electronic components manufacturing, rare earth processing corridors, high-tech tool rooms, and container manufacturing to build supply chain resilience and boost exports.
He also welcomed the allocation of 4,000 e-buses for Purvodaya States and continued customs duty exemptions for lithium-ion batteries, along with extended concessional duty benefits for EV and hybrid vehicle batteries till 2028, which he said will strengthen India’s domestic EV ecosystem.
