Given the government’s focus on technology across sectors, India’s IT sector welcomed Union Budget 2022-23. With announcements around digital economy, digital health eco-system, e-passport, amongst others, the industry believes that the government has recognized technology as the key to India's growth that will pave way for a tech-enabled digital economy.
Tata Consultancy Services (TCS) MD and CEO Rajesh Gopinathan said that the Union Budget has magnified the 'Digital India' vision and importance of technology in all focus areas like infrastructure, inclusive development, sustainability, sunrise industries, and skilling.
"This budget provides many opportunities for growth for the technology industry by bringing world class solutions and best practices for railways, healthcare, education, financial services, and regulatory bodies to accelerate India's growth," Gopinathan added.
Bahwan CyberTek Group co-founder, director and Group CEO S Durgaprasad said, "It is clear that technology will be a force multiplier in the coming months. And this year’s Budget reiterates the government’s strong reliance on digital for economic growth."
He added that the announcement of a digital university, a national digital health ecosystem, 75 digital banking units, e-passports, and the aspiration to ensure all villages have the same access to digital resources as urban areas indicate a blueprint for IT-driven comprehensive development.
The announcement about RBI introducing digital currency and the government providing infrastructure status to data centers will help create a framework for emerging technologies, making the digital India Inc better and stronger.
Puneet Gupta, Managing Director and Vice President at NetApp India, said, "I am excited to see the government’s focus on technology sector, as a whole. The incentives towards creating digital infrastructure, education, and skilling, spell out the intent on developing the country’s human capital."
The Budget truly echoes India’s vision towards inclusive development and building a truly ‘Atmanirbhar Bharat’ by providing a blueprint for the economy over ‘Amrit Kal’ from India at 75 to India at 100. "FM’s key announcements on blockchain and setting up e-passports with futuristic technologies are a step in the right direction to help India emerge as a global technology leader. The focus on innovation and R&D (Research and Development) with an emphasis on strengthening talent capacity through STEM (Science, Technology, Engineering, Mathematics) universities and skilling courses in IITs will enable India to become a global hub for skilled talent. Overall, Budget 2022 promises to provide the much-needed impetus to sustain India’s economic and digital growth," said CP Gurnani, MD and CEO of Tech Mahindra.
Echoing the sentiment, Dipika Jaikishan, co-founder and COO of Basis, said, "The Budget started with the identification of the need for mental health services and recognising these and creating services. This is a forward-looking Budget with conviction and an implementation path. Technology has been recognised as the key to India's future, paving the way for a tech-enabled and digital economy."
Given the focus on digitisation in the Budget, technology will play an important role not just in the coming year but for years ahead. It indicates India's digital march forward. The industry is calling it as the Budget for technology and technocrats.