The Indian Chamber of Commerce and Industry, Coimbatore (ICCIC), held a press meeting on 1 February 2026 to discuss the Union Budget 2026–27, which was presented earlier on the day.
The office bearers of the chamber, including Rajesh B. Lund, President; Dorairaj and Annamalai, Vice Presidents; Pradeep, Honorary Secretary; Kailash Kumar, Treasurer; Vanitha Mohan, Past President; Mithun Ramdas, Director, Mahendra Pumps; Sabarinath, President, The Coimbatore Jewellers Association; and C.S.K. Prabhu, Senior Partner, C.S.K. Prabhu & Co., addressed the press and media, sharing their perspectives on the budget and its implications for various sectors.
Rajesh B. Lund said, “We should commend the Finance Minister for her financial management.” He noted that the growth projection is at 7 per cent, with the fiscal deficit 4.4% this year and 4.3 % next year.
He also commended the government for placing strong emphasis on inflation management in the Budget, noting that retail inflation remains below 2 per cent.
“Overall, the Budget will drive greater growth for our country, and with these measures, India is on track to soon become the third-largest economy in the world,” he added.
Kailash Kumar, Treasurer, said he was very happy with the Union Budget 2026. He appreciated the initiatives related to artificial intelligence and technology data centres, noting that such centres will receive income tax exemptions until 2047, as announced in the Budget.
He also welcomed the proposal to develop five new cargo terminals across the country, stating that this would strengthen logistics infrastructure. In addition, he lauded the Budget’s focus on the sports sector, which he said had not received adequate attention earlier.
Referring to Tamil Nadu, he said the coconut promotion scheme would provide significant benefits to the State. He also welcomed the creation of rare-earth corridors in Tamil Nadu, calling it a major initiative, as rare-earth minerals are critical for the manufacturing of chips and semiconductors.
He added that the Budget would also be beneficial for the textile sector.
