Union Budget 2026 Reactions Cleantech & EV: Doubling down on clean energy, EV localization & strategic tech manufacturing

The Union Budget 2026 emphasized the importance of energy transition and domestic manufacturing as pillars of a self-reliant economy. With the historic hike in Capital Expenditure and the rationalization of duties on solar inputs, the Government has strengthened the backbone of the renewable sector.

ELECTRIC VEHICLES

• EV component support
• Expanding the Rare Earth Permanent Magnet Scheme
• Dedicated corridors in mineral-rich states
• Creation of high-tech tool rooms & chemical parks
• The India Semiconductor Mission 2.0
• Electronics Components Manufacturing Scheme

The Tech Panda asked Electric Vehicle and Cleantech industry players what they thought of the Union Budget 2026.

Sanjay Choudhari, Chairman, SBL Energy Limited

“The Union Budget 2026-2027 points to a clear strategic response to the growing global trade tensions and supply-chain vulnerabilities. By establishing dedicated rare earth corridors across mineral-rich states and supporting downstream processing, research, and manufacturing, the government is addressing one of India’s most critical dependencies – access ...