We are hopeful that the interim budget makes provisions for investments in data infrastructure, skill development, and data accessibility.
As we approach the announcement of the interim Union Budget 2024, leaders from the tech sector have high hopes.
Fulcrum Digital: “In light of India’s rapid strides in the field of generative artificial intelligence throughout 2023, the upcoming interim Union Budget could hold the key to unlocking the full potential of this transformative technology for enterprises across the nation.
The government’s focus on initiatives such as ‘Make AI for India’ and ‘Make AI Work for India’ aligns with the rapidly advancing AI landscape and the vision for India to lead this global AI transformation. Addressing challenges such as the shortage of AI talent, creating public-private partnerships, and fostering innovation in advancing fields like insurtech, food tech, education, and cybersecurity is a pivotal step in this direction.
We are hopeful that the interim budget makes provisions for investments in data infrastructure, skill development, and data accessibility. This will ensure that India not only catches up with global AI leaders but also emerges as a front-runner in responsible AI adoption. The government’s vision and its successful implementation in the form of this Union Budget are set to fuel the trajectory of yet another year of rapid digital advancement for the country.” Rajesh Sinha, Founder and Chairman, Fulcrum Digital
Sophos: “Over the past year, India has witnessed a rise in cyber-attacks of various magnitudes, placing many businesses and individuals at risk. In the wake of these attacks and the Finance Ministry’s directives throughout 2023 to enhance cybersecurity measures in different industries, hopefully the upcoming interim Union Budget 2024 will include a continued focus on reinforcing the nation’s cyber defenses. With a heightened emphasis on the prevention of data breaches, ransomware attacks, and AI-powered cyber threats, increased budgetary allocations towards cybersecurity awareness and training initiatives are imperative. The Finance Minister’s call for proactive cybersecurity measures augurs well for a renewed focus on bridging the current cybersecurity skill gap in the industry and fostering an efficient cyber-task force within organizations. This strategic investment will not only fortify our defence against cyber threats but also contribute to job creation and economic resilience in the face of evolving digital challenges, powering the future of a secure digital India.” Sunil Sharma, Vice President, Sales, Sophos India & SAARC
Clover Infotech: “In the upcoming budget, I would like to see the government prioritizing measures that foster the development and widespread adoption of AI. A strategic investment in AI initiatives will not only drive economic growth but also position our country as a global leader in the digital era. I look forward to policies that support research and development, incentivize AI talent, and create a conducive environment for businesses to harness the full potential of AI. By leveraging AI, we can build a smarter, more competitive, and technologically advanced nation.” Kunal Nagarkatti, Chief Executive Officer, Clover Infotech
NetApp: “The AI push by Honorable Finance Minister Nirmala Sitharaman in last year’s Budget was a visionary step that has helped place the country on the global AI map. We are hopeful that the upcoming Interim Union Budget 2024 will continue this momentum. The strides being made through initiatives like ‘AI for India’ set the stage for the nation to lead the ongoing technology transformation. What is also equally important is safeguarding the data required for this push towards an AI-driven nation. We look forward to diligent data governance and intelligent data infrastructure driven by AI. The budget presents an opportunity to streamline data access and address concerns about ethics. An increased investment in R&D will help create the foundation for innovation in key technologies such as AI/ML, IoT, blockchain, and cloud computing. It will be good to see tech startups get the necessary tax benefits and policy support that will encourage entrepreneurship. These initiatives will unleash India’s potential to develop new technologies and help achieve the government’s goal of a Viksit Bharat by 2047.” Puneet Gupta, Vice President and Managing Director, NetApp India/SAARC
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