‘Budget takes major steps to make India an export hub,’ says Smriti Irani in praise

New Delhi: Finance Minister Nirmala Sitharaman presented the country’s budget in Parliament today (Sunday). She described it as driven by youth power. Praising the budget, former Union Minister Smriti Irani said that Budget 2026 is comprehensive. In an exclusive interview with India TV, she said that the government’s announcements are not isolated but complementary to each other. The budget has taken a major step towards making India a manufacturing hub and an export hub.

Smriti Irani said that in 2014-15, the potential for electronics manufacturing exports in the country was approximately $5 billion, which has now increased to around $35 billion. She described the new announcement of Rs 40,000 crore as significant for the equipment manufacturing and semiconductor sectors.

The budget also mentioned the ‘Rare Earth Mineral Corridor’. Speaking about its importance, Smriti Irani explained that India has the world’s third-largest reserves of rare earth minerals. However, our country’s share in global production is currently only 1 percent. She also said that the government is now focusing on increasing the production of these minerals in India, along with exports.

The former minister clarified that simply increasing production is not enough; it is also essential for us to reach international markets. She further added that announcements like Coastal Cargo Promotion have been made to strengthen our logistical system and reduce the turnaround time for companies.

According to Smriti Irani, the plans for biopharma, the semiconductor mission, and the rare earth corridor in Budget 2026 create a ‘larger holistic picture’ of the country’s economy.