The US-India Business Council (USIBC) praised the reforms introduced in the budget, including lifting the FDI cap in insurance and policy changes to address transfer pricing challenges and promote infrastructure investment. USIBC, a leading trade association with 300 top US and Indian companies, expressed appreciation for the finance minister's leadership and the business-friendly policies. The council sees the increase in the insurance composite FDI cap to 49 percent as a positive step towards improving the investment climate and creating jobs. USIBC also supports the decision to raise the FDI cap in defence and highlighted the importance of public-private partnerships in infrastructure development. The US-India Political Action Committee (USINPAC) welcomed the increase in FDI cap in defence and insurance sectors, emphasizing the potential for technology transfer and equity investments. He stated that both of these advancements are praiseworthy, and it will likely motivate international investors, including those from the Indian diasporas, to engage in the growth of India's defense and insurance sectors.