Establishing a quality AI ecosystem and nurturing quality human resources in the industry is one of the key announcements in the Union Budget 2023-24. The finance minister’s vision to “Make AI in India and Make AI work for India” comes as a positive step towards building a progressive environment in the sector. The goal through the same is to make an efficient Indian AI ecosystem which will be stimulated through skilled workers. With the introduction of 5G services last year, the sector saw substantial growth and investment avenues. Now announcing the establishment of 100 labs for 5G service development will facilitate promising transformation in the telecom sector that will, in-turn, also revamp the setup of private networks in the country. However, we did expect the budget to address the tax relaxation concerns in the telecom sector. Hopefully, we will see eventual measures from the government in this regard.”
Budget Reaction Quote 2023-2024- Mr. Gokul Tandon,Group Executive Chairman, Cloudconnect Communications
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