Past Events
Union Budget Discussion
Overview
The Council of EU Chambers of Commerce in India, with Deloitte as Knowledge Partner, hosted "Insights into Union Budget 2026: What Businesses Need to Know-Key Reforms, Incentives & Impact" on February 3, 2026, at the Deloitte Knowledge Center in Parel, Mumbai. The event allowed industry leaders to decode the new budget, which balances fiscal discipline with aggressive regulatory reforms to position India as a global manufacturing and services hub.
Core Themes and Key Discussions
Discussions centered on three "Kartavya" (duties): boosting demographic productivity, fulfilling public aspirations, and driving inclusive growth. Key highlights included a projected 7% economic growth rate backed by a ₹12.2 lakh crore infrastructure spend and a ₹10,000 crore SME fund. Tax reforms featured the new Income Tax Act, 2025 (dropping MAT to 14%), tax holidays for foreign cloud data centers until 2047, and digitized customs workflows like trust-based risk systems and 30-day duty deferrals to enhance the ease of doing business.
Panel Discussion: Industry Perspectives
A high-level panel examined the budget's practical corporate impact, focusing on liquidity and litigation reduction. Key takeaways included the mandatory implementation of TReDS for CPSEs to unlock MSME cash flows, the fast-tracking of unilateral Advance Pricing Agreements (APAs) for IT services to a two-year timeline, and the consolidation of IT-enabled services under a single 15.5% Safe Harbour margin category to ensure tax certainty.
Key Speakers
Mr. Robin Banerjee
Delivered welcome remarks on aligning business strategy with new policy shifts.
Dr. Shubhada Rao
Analyzed the macroeconomic outlook and India's projected 7% growth path amid global uncertainty.
Mr. Alok Agrawal
Decoded the Income Tax Act, 2025, focusing on the 14% MAT reduction and foreign cloud incentives.
Mr. Jatin Kanabar
Decoded the Income Tax Act, 2025, focusing on the 14% MAT reduction and foreign cloud incentives.
Ms. Farheen Butt
Outlined indirect tax updates, detailing trust-based customs clearances and extended duty deferrals.
