Medical Aesthetics and Skincare: Wellness Takes Centre Stage
Amit Shukla, General Manager at Alma Medical, says India’s medical aesthetics market is booming, growing at a double-digit CAGR. “Consumers are now opting for preventive skincare and non-invasive procedures. There’s a clear shift from reactive treatments to wellness-focused care,” he notes.
Shukla highlights that rationalising GST on aesthetic devices and consumables, expanding clinical training, and improving healthcare infrastructure could make advanced treatments more accessible, even in Tier II and III cities. “A forward-looking Budget can ensure that safe, evidence-backed skincare solutions are available to all while supporting holistic wellness,” he adds.
Railways: Execution Over New Announcements
Ravi Singh, Chief Research Officer at Master Capital Services, expects measured spending on railways this year, focusing on track expansion, electrification, signalling upgrades, and station redevelopment. “The emphasis will be on completing ongoing projects rather than announcing entirely new initiatives,” he says.
Public sector railway companies offer steady returns due to predictable government orders, while select private players with strong execution could see higher growth. Freight and logistics-linked suppliers are also likely to benefit.
Defence: Indigenisation and Export Push
The defence sector continues to gain from government support focused on indigenisation. Singh notes that higher capital allocation, domestic procurement preference, and export incentives could accelerate growth, especially in electronics and aerospace.
“Shipbuilding projects take longer, so the impact is gradual. Technology-driven segments with faster execution cycles are better positioned to benefit,” he explains. Companies like HAL, BEL, and BDL could see higher growth from outsourcing and exports.
Sustainability and Climate Innovation
Alok Kumar, founder of Saarthi GreenTech, urges the Budget to reward innovations that cut emissions or industrial pollution. “Outcome-linked funding and targeted tax incentives can accelerate adoption of clean technologies. A functional carbon credit ecosystem will also turn compliance into growth opportunities,” he says.
Infrastructure: Faster Execution and Capital Efficiency
Sanjay Kumar Sinha of Chaitanya Projects Consultancy points to a record ₹3.1 lakh crore capital expenditure by road and rail ministries in H1 FY26. “Budget 2026 should sustain momentum through faster asset monetisation, structured credit for infrastructure MSMEs, and digital adoption like GIS and digital twins to improve on-ground delivery,” he says.
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Pharma: Building on Make in India
Vijay Kumar Aggarwal, founder of Medicef Pharma, highlights that PLI schemes, Bulk Drug Parks, and Make in India initiatives have strengthened domestic pharma. “The Budget can further boost indigenous manufacturing, backend infrastructure, and R&D, positioning India as a global hub for high-quality medicines,” he adds.
Real Estate: Buyer-Centric Measures
Rajan Yadav, Director at Roots Developers, says tax breaks on home loans, better subsidies, and EMI support can revive urban housing demand. “Luxury real estate remains strong due to HNI and NRI demand. A buyer-friendly Budget will make homes more affordable without hurting high-end projects,” he notes.
The Big Picture
Across sectors, experts agree: Budget 2026 should strike a balance between execution, innovation, and accessibility. From preventive healthcare and digital infrastructure to defence indigenisation and climate action, the focus should be on measures that ensure long-term growth rather than short-term spikes.
India’s upcoming Budget could therefore act as a catalyst, unlocking opportunities for businesses, investors, and consumers alike, while setting the stage for a more resilient and sustainable economy.
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