The Union Budget 2023 has been well received by the software technology industry in India. Arvind Kumar, Director General, Software Technology Parks of India (STPI), has said that the budget's emphasis on emerging technologies and enhanced business policies will significantly boost the Digital India initiative.
According to STPI chief, India possesses vast amounts of data, and the newly announced National Data Governance policy will provide entrepreneurs and startups with access to this data, allowing them to create world-class products. He said that “the policy will play a crucial role in India's ability to become a global technology leader.”
In addition to the data governance policy, the budget also includes the creation of three centers of excellence for artificial intelligence (AI). Kumar sees this as a catalyst for startups and entrepreneurs across India, as it will help to build a thriving AI ecosystem. He said that this will not only drive innovation in AI but also provide opportunities for entrepreneurs to develop cutting-edge solutions and create new job opportunities.
“The announcement of creating three centres of excellence will also catalyse startups and entrepreneurs across India to build the next-generation AI ecosystem,” he said.
According to Kumar, the budget's emphasis on digital transformation and the growth of emerging technologies is expected to have a significant impact on India's software industry. With the government's support, entrepreneurs and startups will be able to leverage these technologies to create new products, services, and business models, leading to a more robust and dynamic economy.
Kumar said that the budget represents a major step forward for India's technology industry and that STPI is committed to supporting the government's vision for a digital India. He stressed that with the right policies and support, India has the potential to become a global leader in technology, and he is optimistic about the future of the industry in the country.
Union Budget 2023 has been welcomed by the software technology industry in India, with many experts seeing it as a major boost for the government's Digital India initiative. The focus on emerging technologies, data governance, and AI centers of excellence is expected to drive innovation, create new job opportunities, and propel India's software industry to new heights.