In a resounding vote of confidence, India’s corporate sector predicts a healthy 7-8% economic expansion in 2026-27, according to FICCI’s latest pre-budget survey released today from New Delhi. Conducted ahead of the central budget, the poll captures ‘India Inc’s’ upbeat mood, with 80% of participants bullish on the country’s economic potential.

Half of the respondents project GDP growth in the 7-8% range for the next fiscal, defying global volatility. Confidence extends to fiscal management, as 42% expect the 2025-26 deficit to stay at 4.4% of GDP.

The business community outlines three core budget asks: generating employment, pushing infrastructure projects, and bolstering exports. Spotlight sectors are infrastructure, manufacturing, defense, and MSMEs. Maintaining momentum in manufacturing and capex is critical, the survey stresses.

Electronics needs a mega cluster to unite manufacturers, assemblers, and suppliers for scaled production. Defense manufacturing requires hiking capex share to 30%, with upgrades in UAVs, counter-drone tech, electronic warfare, and AI-driven systems.

Drone ecosystem demands boosting PLI to ₹1,000 crore plus a separate ₹1,000 crore R&D fund. For exports, addressing trade frictions, tariffs, and barriers like CBAM is vital. Suggestions include faster trade processes, easier customs, logistics improvements, port efficiencies, and stronger incentives/refunds.

Tax reforms sought: easier compliance, more digitization, predictable taxation, swift dispute settlements, less litigation, plus support for mergers and investor-friendly policies.

This FICCI insight paints a picture of an industry ready for a growth-oriented budget that embeds India deeper into global supply chains via reforms, all while upholding fiscal responsibility.