Bharat Forge's Kalyani Urges Budget 2026 Reforms for Defence Exports, Private R&D

• Bharat Forge Chairman Baba Kalyani calls for Union Budget 2026 reforms to boost India's private defence manufacturing.
• Key demands include flexible export credit, currently inadequate through EXIM Bank, to be administered by the Ministry of Defence.
• Kalyani highlights India losing defence export opportunities due to competitors offering easier, longer-term financing.
• He also seeks a dedicated R&D budget for private defence companies, currently dominated by DRDO funding.
• Reforms aim to accelerate indigenisation, improve competitiveness, and strengthen India's global defence export position.

Why It Matters: Kalyani pushes for flexible export credit and private R&D funding in Budget 2026 to empower India's defence sector.