As the government prepares for the upcoming Union Budget 2026-27, leading economists have suggested that the focus should be on reviving private investment and simplifying customs procedures. During a pre-budget consultation chaired by Finance Minister Nirmala Sitharaman, experts shared their views on how India can maintain strong and balanced economic growth.
Focus on Reviving Private Investment
Economists believe that private investment will play a key role in driving India’s next phase of growth. While public spending on infrastructure has supported the economy so far, the private sector now needs to take the lead.
They suggested that the government should create a stable and business-friendly environment by ensuring policy consistency, faster project approvals and clear regulations. These steps, they said, would encourage companies to expand, create jobs and boost overall productivity.
Need to Simplify Customs Procedures
Another major recommendation was to make India’s customs system simpler and faster. Economists said that businesses often face delays and high costs because of complicated documentation and multiple inspections.
Streamlining customs processes — through more digitalisation and faster clearances — would make it easier for exporters and manufacturers to compete globally. This would also support the government’s goal of turning India into a major player in global supply chains.
Broader Economic Reforms on the Agenda
In addition to investment and trade, experts suggested other reforms that could strengthen the economy:
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Simplify rules and reduce red tape for businesses
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Improve land, labour and judicial systems
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Maintain fiscal discipline while supporting productive capital spending
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Strengthen infrastructure and logistics for faster industrial growth
These reforms would help ensure that government spending leads to long-term economic benefits rather than short-term boosts.
What This Means for Investors and Advisors
For investors and wealth managers, these policy directions signal a renewed push for private-sector growth. Sectors like infrastructure, manufacturing, capital goods and exports could see stronger momentum if reforms are implemented effectively.
Improved trade and customs processes may also benefit companies that depend on exports. Advisors should help clients understand how these changes could shape future investment opportunities, while keeping portfolios balanced and focused on long-term goals.
Source: MoneyControl