The Economic Survey 2026 proposed that the next wave of GST reforms should reimagine the e-Way Bill system as a logistics enabler. A key suggestion is the adoption of trust-based, technology-driven compliance models, including a “trusted dealer” framework, under which taxpayers with strong compliance records face minimal physical checks and enjoy greater certainty in the movement of goods.

India's Economic Survey 2025-26 reveals a significant decline in unemployment, driven by government initiatives, skill development, and entrepreneurship. Over 2.3 crore vacancies were mobilized via the National Career Service portal, while the formalization of labor markets is being catalyzed by new Labour Codes.

“Going forward, receipts from equity monetisation can be strengthened by selectively reducing Government equity in certain CPSEs beyond the minimum public shareholding norms,” the Economic Survey 2025–26 said. Because effective control requires only about a 26 per cent stake, survey suggests that the government could consider amending the definition of ‘government company’ under the Companies Act, limited to listed entities, to allow them to remain as government companies with a minimum of 26 per cent ownership, and thereby “retaining special resolution rights, while enabling the government to monetise its stake.

The Economic Survey advocates for a robust manufacturing sector to bolster the rupee, with the Chief Economic Adviser stating global financial conditions, not domestic stress, drive emerging market currency movements. He emphasized that manufacturing-led export growth is crucial for sustained rupee strengthening, while acknowledging rising imports with income growth and the strategic importance of 'Swadeshi' in a volatile global landscape.

As per the survey, India’s exports showed a year-on-year (YoY) decline in exports to the US during the period of April-November 2025, while registering positive exports growth to the world. India’s gems and jewellery exports to the US fell sharply, with the country’s share declining to 18.7% from 33.7% over the same period, contributing to a negative growth of 44.3%. In contrast, exports to the UAE and Hong Kong rose significantly, with their combined share increasing to 53.6% from 41.4%, accounting for 34.9% and 23.4% of India’s total gems and jewellery exports, respectively.

The Economic Survey warns of reduced global economic resilience entering 2026 due to geopolitical tensions and financial vulnerabilities. Chief Economic Advisor V Anantha Nageswaran outlines three scenarios, with 'managed disorder' and a 'disorderly multipolar world' each carrying a 40-45% probability, highlighting increased instability and a higher risk of systemic shocks.

India's economy is shifting. Services now lead growth, contributing the most to the Gross Value Added. Industry is also picking up pace. Agriculture is changing, with horticulture production now exceeding foodgrains. This structural change positions India for strong growth despite global challenges. Private consumption remains a key driver.

India's Economic Survey 2026 noted that both regimes are anchored in the arm’s length principle and aligned with international standards of bodies such as the OECD and the World Customs Organisation. Yet, in practice, identical related-party import transactions are often examined separately by tax and customs authorities.

The Economic Survey 2025-26 advises Indian companies to avoid capital-intensive frontier AI models, advocating for decentralized, application-driven strategies aligned with domestic capabilities. This approach prioritizes practical applications and productivity gains, mitigating financial and strategic risks associated with large-scale AI development and global dependencies.

India’s labour market shows robust momentum with 8.7 lakh new jobs in Q2 FY26, while women dominate registrations on e-Shram, highlighting shifts in informal workforce and gendered employment trends.

The Survey highlights easing food prices, soft global commodity trends and limited core pressures once precious metals are excluded.

FDI outflows from India increased to $22.1 billion during April–November 2025. Despite this, improvements in gross inflows along with moderation in profit repatriation by foreign investors led to a sharp rise in net FDI. Net FDI increased nearly sevenfold to $5.6 billion during April–November 2025, up from $0.8 billion a year earlier.

For India, the Survey said these global developments translate into external uncertainties rather than immediate macroeconomic stress, noting that slower growth in key trading partners, tariff-induced disruptions to trade and volatility in capital flows could intermittently weigh on exports and investor sentiment.

FY27 is expected to be a year of adjustment, as firms and households adapt to changes, with domestic demand and investment gaining strength, it says.

The Economic Survey 2025 26 sets the tone for India Inc, spotlighting manufacturing scale up, services export strength, inflation comfort and strategic resilience amid global trade disruptions and economic uncertainty.

The survey flags resilience amid global volatility and tougher United States tariff regime.

The Economic Survey is a very comprehensive annual economic review which is prepared by the Economic Division of the Department of Economic Affairs under the Ministry of Finance.

Prime Minister says reform momentum accelerating, highlights manufacturing opportunity and long term growth roadmap as Parliament convenes.

What will it take to convert consumption recovery into a sustained private capex cycle? Why are strong macros and policy continuity not translating into earnings growth and investment appetite? How can credit, skills and productivity widen India’s middle class and revive demand confidence? Hear Dr Rajan Pental, Executive Director, YES Bank; Kanika Pasricha, Chief Economist, Union Bank of India; Prithvi Chandrasekhar, CEO - Consumer Finance, InCred; Kaushal Shah, MD & Head - ECM, Kotak Investment Bank; and Pranav Haridasan, MD & CEO, Axis Securities, as they unpack the missing links between consumption, confidence and capital expenditure.

Ahead of the Feb. 1 Budget, PM Modi’s government is expected to boost infrastructure spending and improve ease of doing business while maintaining fiscal discipline. Finance Minister Nirmala Sitharaman may simplify import duties and ease compliance for small businesses, aiming to support growth amid muted private investment and global risks, including punitive US tariffs.