India’s Finance Minister Nirmala Sitharaman unveiled the annual budget for the fiscal year 2026-27, highlighting increased investment in infrastructure and initiatives to strengthen local manufacturing industries. The budget includes specific focus on sectors such as rare earth elements and data centers, aiming to reduce dependence on global supply chains amid growing international uncertainties.
The government projects a GDP growth rate of 7.4% for the current financial year. The budget measures are designed to support economic resilience by promoting self-reliance and enhancing technological capabilities within the country.
**Why this matters**
With global economic challenges and supply chain disruptions, India’s emphasis on domestic production and infrastructure development seeks to secure critical resources and technology. This approach could help stabilize the economy and position India as a key player in emerging industries like rare earths and data center services.
Source: NewsData