The US-India Business Council (USIBC) praised the reforms presented in the budget, particularly the increase in the FDI cap for insurance and policy changes to address transfer pricing challenges and promote infrastructure investment. USIBC, consisting of 300 top US and Indian companies, applauded the finance minister's leadership and business-friendly policies. They expressed their commitment to being long-term partners in India's growth. USIBC viewed the lifting of the insurance composite FDI cap and the increase in the FDI cap for defense as positive steps to improve the investment climate and create jobs. They emphasized the need for clarity on retrospective taxation to ensure tax certainty for investors. USIBC also supported India's initiatives for Smart City development and public-private partnerships in airports. US-India Political Action Committee (USINPAC) welcomed the increase in FDI cap in defense and insurance sectors, highlighting the potential for technology transfer and equity investments. He stated that both of these advancements are praiseworthy, and it will motivate global investors, including those from the Indian diasporas, to engage in the growth of India's defense and insurance sectors.