“We are pleased with the Union Budget 2024’s focus on digitalization and data governance. The substantial investment in digital infrastructure and encouraging private sector involvement presents exciting opportunities. At Fulcrum Digital, we are committed to leveraging our expertise in AI and emerging technologies to support these initiatives.
The emphasis on improving data collection, processing, and governance aligns perfectly with our commitment to helping businesses make more informed decisions. Our work across various industries, including financial services, insurance, and education, positions us well to contribute to these efforts. By utilizing sectoral databases under the Digital India mission, we aim to enhance access to resources and services for everyone.
We also applaud the government’s initiative to set up working women hostels and the allocation of over Rs 3 lakh crore for schemes benefiting women and girls. This is a notable step towards promoting gender diversity and inclusion, as these efforts are crucial in creating a more diverse industry.
The budget’s focus on easing business operations and incentivizing states for business reforms is a welcome move. We look forward to playing a part in driving innovation and efficiency, helping India move towards a more digital and data-driven future.”
“One of the biggest challenges that organisations face from a cybersecurity perspective is skilling of resources. It is reassuring to see the Government’s commitment to developing a skilled workforce with a provision of Rs 1.48 lakh crore been made for education, employment, and skilling. With this, we are confident that we will be able to create a pool of talented resources that can address India’s growing cybersecurity challenges.
At the same time the Union Budget 2024 emphasized stepping up of adoption of technology towards digitalization of the economy. Having the right talent, to be able to support this vision, will be critical to enabling the Government to achieve its goal of ViksitBharat @2047.
Additionally, the Government has also taken a positive step towards increasing the presence of women in the workforce. Through their various initiatives, we are hopeful of seeing a reimagined industry, one driven by diversity and inclusion.”
“The Union Budget 2024 was built on the foundation of Viksit Bharat. A strong focus was put on solar energy. The remarkable achievement of PM Surya Ghar Muft Bijli Yojana with 1.28 crore registrations and 14 lakh applications reflected the growing public awareness and alignment with the government’s vision of a solar-powered India. As a leading solar panel manufacturer, this motivates us to make solar energy more adoptable, affordable, and accessible nationwide. The exemption of customs duty on lithium, a crucial mineral used in the renewable energy sector, will reduce costs, making lithium-based technologies more affordable. The pumped storage policy which includes pumped storage projects for electricity storage will facilitate the smooth integration of the growing share of renewable energy into the overall energy mix, paving the way for a sustainable energy future. Imposing customs duty on the import of solar glass for solar cell and module production will promote domestic manufacturing and boost the economy. The increase of BCD on non-biodegradable PVC flex banners from 10% to 25% is a commendable step towards environmental conservation. Power projects including setting up of a new 2400 MW power plant at Pirpainti, Bihar will add Bihar in the category of solar powered states, overall enhance the power quotient, add to the existing power capacity and create jobs. Overall, the budget highlighted the remarkable changes that will contribute to the development of a nation we all envisioned.”
“Govind Rammurthy is a well-known and highly respected leader in the Indian IT sector. He is an entrepreneur and visionary with three decades of experience in the cyber security space. Under Rammurthy’s leadership, eScan has become known as an innovative Information Security Solution Provider and continues to grow worldwide at a fast pace. As the CEO of eScan, Rammurthy oversees the constant improvement of its products and builds strategies for growth in India as well as overseas. Given his 21 years of experience in software development, he is widely recognized as a software expert among peers in the industry. Rammurthy is an alumnus of the prestigious VJTI Institute of Engineering (Mumbai), with a degree in Computer Science. He briefly worked at Tata Motors Limited (then known as TELCO) before founding MicroWorld in 1993 with a team of three engineers. They developed antivirus and content security solutions in-house, transforming MicroWorld into a global company with a large partner network worldwide”.
“The Union Budget 2024 – 25 is a significant step towards realizing the vision of a Viksit Bharat. The government’s comprehensive approach, encompassing skilling, infrastructure development, and digital transformation, is truly commendable. The budget’s emphasis on fostering a skilled workforce through initiatives such as the comprehensive internship program is particularly noteworthy. At LTIMindtree, we are deeply committed to nurturing talent and driving technological innovation. By equipping young talent with practical experience, these initiatives will fully empower them to make substantial contributions to the nation’s progress. Moreover, the specific focus on enhancing women’s participation in the workforce through the establishment of working women hostels, creches, and women-specific skilling programs is a progressive step. These initiatives will not only empower women but also contribute significantly to the socio-economic development of the country. We view this year’s budget as a catalyst for accelerating our growth trajectory and contributing to India’s digital transformation journey. Our focus on emerging technologies and domain expertise seamlessly aligns with the government’s vision to create a knowledge-based economy. We are excited about the opportunities presented by the budget and are confident in our ability to play a central role in shaping a ‘Viksit Bharat’. We look forward to collaborating with the government, academia, industry, and other stakeholders to foster a sustainable and inclusive growth ecosystem.”
“We’re happy to hear the Hon’ble Finance Minister’s announcement to rollback the Angel tax for all investors in today’s Union Budget. This move will create a vibrant environment for startups across the nation and is a major boost for Indian gaming and esports entrepreneurs, leading to more opportunities as well as higher engagement with the youth. The plan to simplify FDI rules and promote the use of the Indian Rupee for overseas investment is a promising approach that will encourage global entertainment giants to invest in India, further strengthening our position as a global cultural and entertainment destination. For esports, focusing on enhancing sports infrastructure in Bihar is a positive step since the state has already shown its commitment to integrating esports into mainstream sports. This additional government support will help nurture young talent and promote esports as a new-age sport nationwide. Additionally, reducing the BCD on mobile phones, chargers, and PCDA will make smartphones more affordable, which is fantastic for mobile gaming enthusiasts. This will boost mobile gaming adoption within the nation and further strengthen India’s position in the global mobile gaming market, bringing us closer to becoming the largest. Overall, we’re excited to dive into these opportunities to drive growth and make waves”.
“The Union Budget 2024 presented by Finance Minister Nirmala Sitharaman is a visionary step towards inclusive growth, with a strong emphasis on manufacturing, upskilling, and women empowerment. Youth and participation of women in the workforce hold the key to India’s success. To this end, the focus on extensive training and skill development initiatives demonstrates a clear commitment to boosting employability and productivity. By linking job creation in manufacturing to first-time workers and offering EPFO incentives, the government is paving the way for a robust manufacturing ecosystem, creating 4 crore jobs over the next five years. It is certainly a commendable initiative to boost local manufacturing. Additionally, offering internship opportunities in the top 500 companies to 1 crore youth is a strategic move that will equip our young population with the skills and experience necessary to thrive in a competitive global economy. The establishment of e-commerce export hubs in a PPP model is another significant step taken by the government and will significantly empower MSMEs and traditional artisans to compete internationally. It will open opportunities for Indian players to boost their reach globally while enhancing the ease of doing business and accessing new markets. India has long been an attractive consumer market for international brands, supported by our collaborative and business-friendly policies that enable seamless operations. The export hubs are an efficient step in unlocking similar avenues for homegrown companies, allowing a global stage for their innovation and entrepreneurial mindset, and strengthening India’s position in manufacturing. Lastly, I feel the abolition of the angel tax will undoubtedly boost funding in the startup ecosystem, fueling innovation and growth. This move, along with incentives for job creation in the manufacturing sector and support for MSMEs, will not only stimulate valuable employment opportunities for millions of young people but also ensure economic resilience, laying a strong foundation for a powerful growth trajectory for India. Driven by the vision of Viksit Bharat, we look forward to actively participating in the nation’s journey towards global prominence and innovation leadership.”
“InfoVision applauds the government’s commitment to advancing innovation and digital transformation with the allocation of 5% of the Universal Services Obligation Fund towards telecommunications technology R&D. The renaming of this fund to Digital Bharat Nidhi highlights the critical role of a digital-first strategy in driving economic growth.We are particularly encouraged by the introduction of the Jan Vishwas Bill 2.0 and the incentives for states to adopt Business Reforms Action Plans and embrace digitalization. These initiatives are set to significantly enhance the ease of doing business and will have a profound positive impact on the IT sector, further strengthening India’s digital economy. InfoVision fully supports these progressive measures and remains dedicated to contributing to and benefiting from these transformative efforts”.
“The Union Budget 2024-25, announced by Finance Minister Nirmala Sitharaman, presents a robust vision for various sectors’ enhancement. The new tax regime reforms benefit law-abiding taxpayers. Job creation schemes are proposed across segments, particularly manufacturing, to drive “Vikasit Bharat.” Support for MSMEs and manufacturing includes long-term loans for machinery, credit guarantees, and establishing electronic manufacturing clusters, enhancing global competitiveness. Skill development initiatives introduce new courses, revise loans, and develop National Industrial Corridors to connect top companies with CSR funds, aiming to benefit over 1 crore youth in the next five years. The reduction of Basic Customs Duty on mobiles and accessories and PCDA is a strategic move to support these industries. Overall, steps to ease trade, reform manufacturing, and support the start-up ecosystem are vital. Reforms in solar, energy, agriculture, and education are crucial for holistic national development. Notably, the commitment to enhance the inclusion of more women in the workforce by formulation of skill development programs and encouragement of more women entrepreneurs reflects the virtue of them being amongst the decision makers in the future.”
“In the era of next-generation technologies such as AI, ML, robotics, and automation, the initiatives announced in the Union Budget 2024-25 are pivotal for preparing India’s talent pool to drive our economy towards the USD 5 trillion goal. With an allocation of ₹2 lakh crore for employment-linked skilling, incentives for creating 4 crore jobs in the manufacturing sector, and the introduction of the Model Skill Loan Scheme, our youth will have unprecedented opportunities for growth. Additionally, the provision of internships and direct benefit transfers will ensure our workforce is skilled and financially supported. These comprehensive measures will build a robust, future-ready talent pool capable of spearheading India’s technological and economic advancement.“
“India’s visionary Budget 2024 has resonated positively with the masses, focusing on employment, skilling, and MSMEs, thereby laying a strong foundation for the next five years. By introducing a new credit guarantee scheme to offer term loans to MSMEs and raising MUDRA loan limits, the budget aims to support and strengthen the MSME ecosystem. Additionally, eliminating the angel tax will help build a healthier startup ecosystem with higher access to capital and a lesser burden on investors. The long-term capital gains tax (LTCG) scheme, with its increased exemption limit to Rs 1.25 lakh, will offer investors the opportunity to earn higher tax-free gains, promoting greater investment participation and enhancing overall tax efficiency. With this move, the startup industry will witness more innovation and development across different sectors, showcasing India as a global powerhouse in the startup ecosystem. Furthermore, the government’s emphasis on youth with job creation and skilling programs will boost India’s economic growth. Overall, the union budget underscores a strategic approach towards long-term economic resilience and innovation.”
“The Union Budget 2024 outlines a forward-looking vision for the digital development of India. The government’s commitment to investing more than ₹11.11 trillion in infrastructure, including digital infrastructure, aligns perfectly with the increasing needs of our data-focused economy. STT GDC India is especially enthusiastic about the emphasis on AI and innovation with initiatives such as the ₹1 lakh crore funding pool for private sector-led research. The focus on training 41 million young people in 5 years with a budget of ₹2 trillion will establish a strong pool of talent for the technology sector. The policy document aligning energy transition pathways with employment and sustainability reflects our dedication to eco-friendly data centres. As a leader in data centre services, STT GDC India is in a position to have a significant impact on aiding India’s digital transformation and sustainable growth agenda.”
“The Union Budget 2024–25 has taken a substantial leap towards positioning India as a global technology and manufacturing hub. With a keen focus on semiconductor and electronics industries, the announcements are in sync with Analog Device’s vision for India. We, at Analog Devices, aim to focus more on R&D initiatives to propel India’s growth towards technological development and manufacturing prowess. While the government has launched these initiatives aimed at providing a conducive ecosystem for economic and technological development, we play our part in upskilling our workforce, contributing towards the government’s goal of a trained workforce. We are optimistic about India’s future and all geared up to make our contribution towards this historical momentum.”
“The Union Budget 2024, presented by Finance Minister Nirmala Sitharaman, highlights digital infrastructure as a key driver of economic development. The substantial allocation of over 11 lakh crore rupees for infrastructure development and the support for private sector investments signal a strong commitment to advancing India’s digital capabilities. NetApp’s objective of advancing intelligent data infrastructure closely aligns with this focus on digital infrastructure. At NetApp, we recognise that effective digital infrastructure is essential for enhancing productivity, creating business opportunities, and fostering innovation. The Budget’s emphasis on improving data governance, including better data collection, processing, and management through sectoral databases and technology tools, supports our goals. By utilising AI and observability, we are committed to advancing these initiatives and improving data management, cyber resilience, and data governance. Additionally, the government’s significant provision of Rs 1.48 lakh crore for education, employment, and skilling will be instrumental in developing a workforce equipped to harness these advancements effectively. The government’s focus on promoting women’s participation in the workforce through the establishment of working women hostels and the allocation of over Rs 3 lakh crore for schemes benefiting women and girls is commendable. These initiatives will enhance diversity and inclusivity in the tech sector, fostering a more balanced and innovative workforce that drives industry growth and progress.”
“We welcome the Union Budget FY25 announcement by Finance Minister Nirmala Sitharaman, which presents a holistic approach to boosting employment, skilling, and infrastructure development. The allocation of ₹2 lakh crore towards employment and skilling schemes, coupled with groundbreaking initiatives for women empowerment and an ambitious internship program, will create a robust talent pipeline vital for the industry. The reduction in corporate tax rates, alongside the substantial ₹11 lakh crore allocation for capital expenditure, reflects a favourable pro-business environment that will drive innovation and attract investments. As an ER&D services company, we are particularly excited about the focus on digital public infrastructure and the establishment of the Anusandhan National Research Fund. These initiatives will foster a culture of innovation and elevate India’s position in the global R&D landscape. Additionally, the development of investment-ready industrial parks promises to create new opportunities for technological advancements. I am confident that these measures will significantly contribute to India’s journey towards becoming Viksit Bharat”.
“The Union Budget 2024-2025 has made significant allocations for electronics manufacturing as well as infrastructure sector, and it will speed up the economic growth. The budget estimate of 2024-25 for the Ministry of Electronics and Information Technology (MeitY), saw a 52% increase in its allocation of Rs 21,936.9 crore, compared to the revised estimate of 2023-24, at Rs 14,421.25 crore. The Electronics and Infrastructure sectors got a big boost in the Union Budget; these initiatives will help the electronics security industry to grow faster. The significant allocations for infrastructure development and technology upgrades shows the government’s commitment to enhancing domestic manufacturing capabilities. Increased funding for the PLI (Production-Linked Incentive) scheme would attract more investments and boost production capacity, enabling us to be more competitive on a global scale. The government’s focus on the MSME sector and manufacturing is commendable. The scheme strengthens the manufacturing ecosystem, fostering innovation and competitiveness. The Finance Minister has announced a PM Package of five schemes with a total allocation of Rs 2 lakh crore. This year, a provision of Rs 1.48 lakh crore has been made specifically for education, employment, and skilling. The core focus on providing skilling opportunities and jobs to youth through various schemes is highly praiseworthy”.
