Union Budget 2026: incentives, simplified GST framework in wishlist of Vizag industries

Vizag industries seek long-term incentives and simplified GST in Union Budget 2026 to enhance manufacturing and global competitiveness.

From seeking tax concessions to boosting local manufacturing of daily essentials such as soaps, the industrial community in Visakhapatnam has submitted a diverse wishlist to the Centre on the eve of Union Budget 2026.

As Union Finance Minister Nirmala Sitharaman is all set to present the Union Budget on February 1, stakeholders in Visakhapatnam, a critical industrial and maritime hub, want measures that ensure long-term policy clarity and global competitiveness. They feel that the Budget must move beyond short-term announcements and focus on building a resilient, self-reliant manufacturing ecosystem.

With Visakhapatnam among the gateways for India’s maritime trade, industry leaders have urged the Centre to prioritise the ‘Maritime Amrit Kaal Vision 2047’.

The wishlist includes significant capital allocation for the Sagarmala Programme, developing trunk infrastructure and alternate fuel hubs at the city port.

The industry leaders observe that Visakhapatnam can benefit under this Maritime Amrit Kaal Vision as it focuses on transforming the sector through 300-plus initiatives with a total investment of ₹80 lakh crore, green energy, smart ports, and increased trade.

“Better port connectivity and incentives for eco-friendly ship technology are no longer optional. Now, such measures are essential for creating jobs and boosting tourism,” noted a representative from the maritime sector.