Union Budget 2026: The Union Budget for the financial year 2026-27 will be tabled in the Parliament on February 1, 2026. Meanwhile, Union Minister Nirmala Sitharaman has held various rounds of discussions with representatives of states, economists, industry leaders and other stakeholders, seeking their inputs for the upcoming budget.
With just a few days left, preparation for the next financial year budget is underway in full swing. Meanwhile, industry leaders from the consumer durable sector have put in their expectations and demand from Budget 2026.
Earlier, the sector got a major boost after the government lowered taxes on major consumer durable products in the GST rationalisation in September last year. The reforms brought significant relief for consumer durables by slashing taxes on big-ticket items like TVs, ACs, and washing machines from the 28 per cent slab down to 18 per cent.
Their demands include further GST rationalisation, PLI support and policies for easy access to capital.
Demanding further GST reforms for the sector, Madhav Mani, CEO - Usha International, said that streamlining GST on essential home and kitchen appliances across cooling, heating, cooking, and fabric-care categories would help people in their role in modern living and everyday convenience.
"Such a move could encourage wider adoption of branded, energy-efficient, and multifunctional appliances, particularly in Tier 2 and Tier 3 markets, supporting sustained consumption growth and long-term sector resilience," the Usha International CEO said.
Emphasising the need for policies supporting local manufacturing, Ashutosh Gupta, Director of Sales & Marketing, Summercool Home Appliances Ltd, said that the industry needs policy measures that can provide support to local manufacturers.
"We wish the forthcoming Budget will continue to be the one that promotes the business-friendly, predictable taxation, and demand-led growth approach, which are the very factors that contribute to and keep the long-term traction in the Indian retail-driven consumer durables market," Gupta demanded.
Meanwhile, Kalpesh Ramoliya, Founder and Chairman, Raj Cooling Systems, believes that cooling and climate solutions of the consumer durables sector in India are entering a very strong growth period due to urbanisation, higher disposable incomes, and the increasing penetration of tier II and III markets as the main drivers.
According to Ramoliya, the industry is predicting that the Indian consumer durables market will grow by 12-14 per cent yearly for the next two to three years.
"The targeted policy support from the budget, such as the extension of PLI benefits to energy-efficient consumer durables, the rationalization of GST on cooling appliances, incentives for local component manufacturing, and improved access to working capital for MSME-led dealer and distributor networks, will be crucial for the continuous growth of the sector from the very beginning," Ramoliya demanded noting domestic production of consumer durables is expected to go beyond USD 40-45 billion by 2027.
Jasraaj S. Kalra, Managing Director of Noble Group, said the consumer durables sector expects the Union Budget 2026-27 to boost consumption through stable taxation and income-led demand measures, while simultaneously enabling scale manufacturing through localisation of components and electronics.
"A demand-driven approach supported by strong domestic supply chains will allow Indian manufacturers to expand capacity, improve efficiencies, and reduce import dependence," Kalra noted.