<h1>US-India Business Council Applauds Indian Budget, Urges Tax & Regulatory Reforms to Boost Global Competitiveness</h1> The US-India Business Council (USIBC) praised India's Union Budget for 2025-26, highlighting its focus on agriculture, MSMEs, investment, and exports. However, USIBC emphasized the need for deeper systemic reforms in taxation and regulatory frameworks to enhance India's global competitiveness and attract more foreign investment. The council welcomed initiatives like a Nuclear Energy Mission and a National Manufacturing Mission but stressed the importance of regulatory streamlining and policy certainty. Additionally, USIBC supported the increase in FDI limits for insurance and the exemption of certain lifesaving drugs from Customs duty, while calling for broader structural reforms in various sectors.