Union Minister of Consumer Affairs, Food and Public Distribution; and Minister of New and Renewable Energy Shri Pralhad Joshi inaugurated the special interaction program on the Union Budget 2026, in presence of Union Minister of State for Micro, Small and Medium Enterprises and Labour & Employment Ms. Shobha Karandlaje. The special interaction program was organized by the Peenya Industries Association in Bengaluru today.

MLA Shri S. Muniraju, Peenya Industries Association President Shri D.P. Danappa, Vice President Shri Chandrashekhar M, board office bearers, entrepreneurs, and several dignitaries were present in this interaction program. After inaugurating the program, Shri Pralhad Joshi said termed Peenya Industries Association as an old industrial association, and stated that measures would be taken for its further development. The Minister stated that about 70% of India's total aerospace supplier ecosystem is concentrated in Bengaluru alone, and it is only in Bengaluru that there are numerous R&D institutions and R&D centres related to the government or private organizations, and the government is committed to providing more help and cooperation to them.

Until October 25, more than 15,326 defence items, services, and equipment have been available on the Srijan portal, in which 3,114 defence items and DPSUs have been indicated and categorized in the positive indigenization list; these will be supplied only by Indian local manufacturers. Out of more than 15,356 categorized defence items, worth about 8,800 crore rupees have been manufactured and supplied locally from within our country so far.

The Minister said that Prime Minister Shri Narendra Modi intends to make the country Atmanirbhar and encourage the MSME sector. Accordingly, assisting the country's manufacturing ecosystem through self-reliance is not a small matter; Make in India is not just a subject for a speech, nor is it just a slogan; we have implemented this from the grassroots level. Out of the 10,000 crore grant announced for the MSME sector, 25% of the manufacturing GDP share should come from MSMEs. Similarly, we have provided grants through the Atmanirbhar Bharat Fund top-up of 2,000 crore rupees and several other schemes. The minister said, this will provide encouragement to small exporters and that we have provided assistance to set up chemical parks in three places in the country.

The Prime Minister has clearly guided us all. Apart from this, for the startup hub, we have prepared to help more than 1,000 startups step-by-step in this budget for the next five years. Already, the world's third-largest startup ecosystem is in India. He said we are taking measures to strengthen this further. The Minister also spoke about the challenges to be faced, as we move toward becoming the third-largest economic nation.

The 2026 Union Budget is a significant budget toward India's future, Viksit Bharat, and Atmanirbhar Bharat; he spoke about India making its mark globally under the leadership of Prime Minister Shri Narendra Modi, making India self-reliant in the sectors of technology and industries, supporting startups, providing opportunities for design, innovation and production, and various Central Government schemes for industrial development.

 

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