By Niharika Joshi & Udit Lekhi, Co-Founders, Cumin Co.
“Union Budget 2026 signals the right intent for India’s consumer and SME ecosystem. Compliance and tax administration, however, remain real bottlenecks. TCS and fragmented GST processes continue to lock up working capital for growing brands. Any meaningful simplification here would directly improve cash efficiency and reduce non-productive overheads. The push for digital retail infrastructure is timely; incentives for POS, inventory tech and AI-led supply chains can help both traditional retailers and D2C brands modernise faster with stronger unit economics. The ₹10,000 crore SME Growth Fund and the Self-Reliant India Fund top-up are encouraging steps toward equity-led growth. Ultimately, impact will hinge on execution and ease of access.”