The US-India Business Council (USIBC) expressed its appreciation for the reforms proposed in the budget, including raising the FDI cap in insurance and policy changes to address transfer pricing challenges and promote infrastructure investment. USIBC, made up of 300 leading US and Indian companies, praised the finance minister and welcomed the business-friendly policies. They emphasized their commitment to long-term partnership with India and highlighted the significance of lifting the insurance FDI cap to 49 percent. USIBC also supported the increase in the FDI cap in defense and applauded initiatives to strengthen Smart City development and public-private partnerships in airports. The US-India Political Action Committee (USINPAC) also welcomed the FDI cap increase in defense and insurance sectors, noting the potential for technology transfer through increased investments. He stated that both of these advancements are praiseworthy, and investors worldwide, including those from the Indian diasporas, will now feel motivated to get involved in the growth of India's defense and insurance sectors.