Post Budget Quote: Interim Union Budget Reaction from Technology Leaders

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Post Budget Quote: Interim Union Budget Reaction from Technology Leaders
Post Budget Quote: Interim Union Budget Reaction from Technology Leaders

With a focus on empowering youth and fostering innovation, the budget outlines a roadmap for unprecedented development over the next five years.

In light of the recent announcement of the Interim Union Budget 2024–2025, leaders are sharing their thoughts on the advancements proposed in the IT sector.

“Finance Minister Nirmala Sitharaman’s sixth consecutive budget presentation sets a decisive course for India’s future, rooted in the vision of ‘Viksit Bharat’ by 2047. The government’s emphasis on GDP—governance, development, and performance—lays a sturdy framework for sustainable growth. With a focus on empowering youth and fostering innovation, the budget outlines a roadmap for unprecedented development over the next five years.

In addition, initiatives like the Skill India Mission, training, upskilling, and reskilling 1.4 crore youth, and establishing new educational institutions reflect a commitment to human capital development and digital empowerment.

At Fulcrum Digital, we stand ready to leverage deep technology and the power of our youth to continue to create opportunities for India at a global level. As a global enterprise AI organization, we are committed to contributing to India’s growth story and fostering innovation for heightened development.” Sachin Panicker, Chief AI Officer, Fulcrum Digital

“The Interim Union Budget 2024 focuses on data-driven innovation, and this gives us much to look forward to. The Honourable Finance Minister has acknowledged the potential of deep technologies like AI in transforming varied industry sectors. In addition, the GoI’s focus on training, upskilling, and reskilling the youth of the nation through the Skill India mission is likely to place India well on the global map of tech-savvy nations. With India’s tech prowess growing, we expect the need for unified storage and intelligent data infrastructures to grow as well. Harnessing the power of data will be a key growth driver and differentiator for businesses across sectors. At NetApp, we are aligned with the government’s focus, with innovation in data management being at the heart of everything we do. Combined with the capabilities of our tech talent, particularly the youth, we are well poised to contribute towards building a ‘Viksit Bharat’ by 2047.” Puneet Gupta, Vice President & Managing Director, NetApp India/SAARC

“We welcome the interim budget’s focus on skilling, deeptech, R&D, innovation, and digital infrastructure, all of which are critical drivers for the IT industry’s growth. The Skill India Mission has helped in building a highly skilled workforce, and the Rs. 1 lakh crore corpus with interest-free loans for tech-savvy youth will be a true game-changer. This will fuel innovation and entrepreneurship, fostering the next generation of tech leaders. As we strive towards achieving the goal of “Viksit Bharat” by 2047, LTIMindtree stands committed to partnering with the government in its digital transformation journey. We believe this interim budget has laid a strong foundation for continued growth, with technology playing a pivotal role in shaping India’s future.” Debashis Chatterjee, MD & CEO, LTIMindtree

“We at Sophos are in complete alignment with the vision presented by the Honorable Finance Minister in the Interim Union Budget 2024, towards creating a prosperous and inclusive India. The highlighted emphasis on skill development, technology-driven innovation, and sustainable infrastructure resonates with our organizational mission, which is focused on empowering Indian businesses through state-of-the-art cybersecurity solutions. The government’s steadfast commitment to increasing the cybersecurity budget from INR 400 crores to INR 750 crores within a year is a noteworthy development within the industry and promises to address cybersecurity threats that may endanger the rapidly digitizing nation.

The intersection of democracy, demography, and diversity, encapsulated by the ideology of “Sabka Prayas,” emerges as the key force that will unlock India’s true potential in the technology sector. Other significant initiatives, such as the allocation of a substantial amount of Rs 1 lakh crore for tech startups and the strategic emphasis on deep-tech for defense, underscore the government’s dedication towards realizing its Atmanirbhar Bharat vision.

Within this transformative landscape, Sophos remains unwavering in its commitment to playing a constructive role in realizing the vision of a cyber-secure India. Our dedication extends to equipping businesses with resilient cybersecurity solutions and nurturing a culture of cyber awareness, thereby contributing to the empowerment of citizens and the assurance of our digital future.” Sunil Sharma, Vice President- Sales, Sophos India & SAARC

Also readHuman intelligence and AI are inextricably linked, and the latter exists to complement and enhance the former, says Tanvir Khan, Chief Digital and Strategy Officer at NTT DATA Services

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