Jamshedpur ।
The Union Budget 2026-27, presented on Sunday by Finance Minister Nirmala Sitharaman, is a blueprint that shifts India’s manufacturing story from ‘participation’ to ‘dominance, said Manging Director of RSB Global S K Behera.
As we navigate global trade shifts, this budget provides a robust shield and a powerful engine for growth, a former Chairman of CII Eastern India chapter.
The record capital expenditure of ₹12.2 lakh crore is not just a number; it is a commitment to the long-term competitiveness of Indian industry. For the automotive and engineering sectors, the budget addresses the three pillars of modern manufacturing, connectivity, technology, and liquidity, Behera, who is also the Vice-Chairman of RSB Global, a fast growing global engineering, said.
RSB Global, which has recorded a turnover of over Rs. 3300 crores in the last fiscal, has business interest ranging from design to manufacturing of aggregates and system related to commercial vehicles, passenger cars including EV, construction and farm equipments for last five decades. The group has 19 plants across India including Pune, Chennai, Lucknow, Cuttack and Jamshedpur and Merico, USA.
Referring the strategic Impact on the Automotive & Component Sector, a reputed industrialist said the automotive industry is at a crossroads of technological sovereignty and clean mobility but the announcements made today are game-changers.
About EV Ecosystem & Critical Minerals, he said fully exempting basic customs duty on 25 critical minerals, including Lithium, Cobalt, and Copper, is a massive boost. By adding 35 capital goods for EV battery manufacturing to the duty-exemption list, the government is ensuring that ‘Made in India’ batteries become a global reality.
The mandate for phased blending of Compressed Bio-Gas (CBG) in CNG for transport is a visionary step toward circular economy goals and reducing our fuel import bill, he observed.
As the backbone of the auto-component supply chain, MSMEs will benefit immensely from the ₹10,000-crore SME Growth Fund and the doubling of the electronic component manufacturing scheme (ECMS) outlay to ₹40,000 crore. This provides the necessary ‘risk capital’ for our smaller partners to upgrade to global standards, Behera added.
As the Former Chairman of CII Eastern Zone, I am particularly heartened by the surgical focus on the Purvodaya initiative. The East is the mineral and industrial soul of India, and today’s announcements will finally unlock its latent potential, Behera added.
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Commenting on East Coast Corridor Industrial corridor, Behera said the development of this corridor, with a primary node at Durgapur, will create a seamless industrial highway, integrating the mineral-rich belts of Jharkhand and Odisha with global markets while describing the Rare Earth Minerals Corridor as “masterstroke”.
Establishing a dedicated corridor across Odisha and other mineral-rich states for the processing of rare earth elements is a masterstroke. This will turn the Eastern region into a critical hub for the global high-tech and EV supply chain, Behera, a key strategist for industrial development in India, pointed out.
