In the run-up to the Union interim Budget 2024, Alok Dubey, Chief Finance Officer of Acer India, has expressed optimism about the potential impact it could have on India's IT Tech sector in the upcoming fiscal year.
He said, “The upcoming Union Budget 2024 has the potential to shape the IT Tech sector in the next fiscal year. As we anticipate Budget 2024, our expectations revolve around fostering India's tech innovation ecosystem.”
One of the key expectations highlighted by Dubey was the need for heightened investments in Research and Development (R&D) and Artificial Intelligence (AI). According to him this would be a crucial step in driving innovation, sustainability, and accessibility within the industry.
“We look forward to heightened investments in Research and Development and Artificial Intelligence, underlining a strategic roadmap emphasising innovation, sustainability, and accessibility within the industry,” Dubey said.
Acer India, aligned with the Make in India initiative, anticipates that the Production Linked Incentive (PLI) program, designed to support IT hardware and computer server manufacturers, will receive significant priority in the upcoming budget.
Dubey stressed the importance of this program in fostering local manufacturing and creating a conducive environment for IT tech companies.
PLI scheme should receive significant priority in Budget 2024
“Aligned with the Make in India initiative, we expect that the Production Linked Incentive (PLI) program, designed to support IT hardware and computer server manufacturers, along with the government's resolute commitment to digital skill development, will be accorded significant priority,” Dubey said.
This dual focus on manufacturing and skill development reflects the industry's holistic approach to growth, encompassing both technological innovation and human capital development.
He also said “We anticipate a budget that not only aligns with but elevates the Make in India objectives, providing a robust framework for the growth and alignment of the IT Tech sector.”