The industrial hub of Panipat has welcomed the Union Budget 2026-27 with enthusiasm, with exporters and manufacturers termed it a “forward-looking” roadmap for the textile and handloom sectors. Key announcements, including the establishment of a mega textile park and a new Labour Incentive Scheme, have generated optimism among stakeholders who believe these measures will enhance global competitiveness and drive employment.
Lalit Kumar Goel, Chairman of the Handloom Export Promotion Council and President of the Panipat Exporters Association, hailed the budget as “employment-centric.” He highlighted that initiatives like the National Fibre Mission, the Tex-Eco Initiative, and the Mahatma Gandhi Gram Swaraj Initiative would integrate the entire value chain—from fibre self-reliance to sustainable manufacturing. Goel noted that the focus on modernising traditional clusters and skilling under SAMARTH 2.0 would directly benefit Panipat, which houses the country’s largest concentration of handlooms.
Small and medium enterprises (MSMEs), which form the backbone of Panipat’s economy, are expected to be the biggest beneficiaries. Vinod Dhamija, Chairman of the Haryana Chamber of Commerce and Industries (Panipat Chapter), praised the allocation of ₹10,000 crore for the SME Growth Fund and a similar amount for container manufacturing, which will ease logistics. “The extension of the income tax return filing deadline to March 31 is also a welcome relief for small traders,” Dhamija added.
Exporter Rakesh Jain emphasized that the mega textile park would provide much-needed infrastructure to small entrepreneurs who lack sufficient capital for expansion. The industry, which has been navigating global trade challenges including US tariffs, views the budget’s integrated approach as a vital step toward stabilizing order flows and diversifying into European markets.
