Vedanta chairman Anil Agarwal hails Union Budget 2026 as growth-oriented, manufacturing-focused

Vedanta Ltd Chairman Anil Agarwal on Sunday, February 1, welcomed the Union Budget 2026, describing it as a growth-oriented roadmap with a clear thrust on public capital expenditure, manufacturing expansion, and job creation amid global economic uncertainty.

In a statement, Agarwal said the Budget creates fresh opportunities for youth employment, women’s financial empowerment, and the expansion of employment-intensive sectors such as medical tourism. He noted that the government’s continued emphasis on capital investment would provide long-term momentum to India’s industrial and infrastructure growth.

Agarwal particularly lauded the Centre’s focus on critical minerals and rare earths, calling it a timely and strategic intervention. He said the proposed Rare Earths Corridors for mining, processing, research and development, and manufacturing across Odisha, Tamil Nadu, Andhra Pradesh and Kerala would significantly strengthen India’s mineral security, generate employment, and reduce import dependence.

He also welcomed the import duty exemption on capital goods required for processing critical minerals, stating that the move comes at a crucial time given growing global competition and supply chain disruptions.

The Vedanta chairman further praised the government’s decision to introduce greater flexibility in Special Economic Zones (SEZs), including provisions that allow limited domestic market sales, terming it an “excellent move” that would enhance competitiveness and utilisation of SEZ capacities.

Congratulating Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, Agarwal said the Budget reflects steady and calibrated economic leadership in challenging global conditions, and reinforces confidence in India’s medium- to long-term growth trajectory.