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The Mysore Industries Association (MIA) has welcomed the Union Budget 2026 presented by Union Finance Minister Nirmala Sitharaman, describing it as a “development-oriented Budget” with special emphasis on micro, small and medium enterprises (MSMEs).
In a press release issued here on February 1, MIA president P. Vishwanath and general secretary Suresh Kumar Jain said the Budget provides a significant boost to the semiconductor sector with an allocation of ₹40,000 crore.
They noted that a Container Manufacturing Scheme has been announced to create a globally competitive container manufacturing ecosystem, with a budgetary allocation of ₹10,000 crore over a five-year period. Under the National Textile Policy, mega textile parks will also be developed to strengthen the textile sector.
They welcomed policy introduced for the upgradation of the manufacturing sector related to construction and infrastructure development equipment. As part of infrastructure and technology upgradation of 200 industrial hubs, “Champion SMEs” will be identified and promoted. The Mysuru Hebbal Special Investment Region, spread over 6,500 acres, can be included under this initiative, they said.
To create future industrial champions, a dedicated MSME/Small Industries Development Fund of ₹10,000 crore will be established. In addition, a high-level committee will be constituted to promote employment and entrepreneurship through education, supported by skill development initiatives. The MIA welcomed the decision.
The MIA office-bearers also welcomed the proposal for high-speed train services between Bengaluru–Hyderabad and Bengaluru–Chennai.
They welcomed the Scheme for Enhancement of Construction and Infrastructure Equipment (CIE) which aims to strengthen domestic manufacturing of high-value and technologically advanced equipment, ranging from lifts and fire-fighting equipment to tunnel-boring machines required for metro rail projects and high-altitude road construction.
Published – February 01, 2026 07:02 pm IST
