Vivek Sharma, MD, India, Lenovo Data Center Group
This is a professional-progress, pro-technology price range with a imaginative and prescient to disinvest the place required and re-energize infrastructure, healthcare, banking, and agriculture sectors by way of quite a few employment and capital producing reforms. There is a powerful give attention to Digital India be it by way of setting a fintech hub at GIFT metropolis, enhancing digital funds and use of AI, ML and so forth in governance, or making tax appellates faceless and tech enabled – all present a stable basis for a ahead trying information-economic system.
Prakash Mallya, Vice President and Managing Director, Intel India
At a time of nice uncertainty, the primary ever paperless Union Budget 2021 stood out for its unremitting give attention to financial restoration by way of larger spending and inclusive progress alternatives. The allocation of Rs. 50,000 crores over the subsequent 5 years by way of the National Research Foundation to develop India’s potential as a world innovation hub is especially thrilling. This will undoubtedly present higher impetus to the Indian innovation story and cement our place on the worldwide map of main economies. At Intel, we’re steadfast in our dedication to partnering with the Indian authorities on this journey of technology fueled innovation and progress. The Budget’s elaborate give attention to creating healthcare infrastructure can be very encouraging. Technology will probably be a key enabler for constructing a strong healthcare ecosystem that may guarantee common entry to prime quality and customized medical assets throughout the nation. The previous 12 months has additionally refocused efforts on a digital-first mindset to allow higher entry to schooling, help instructional planning and educating, and elevate studying outcomes. The proposed National Digital Educational Architecture (NDEAR) along with on-line modules for schooling and provisions for digital coaching for academics are welcome steps in the direction of making certain high quality schooling for all. The different factor that stood out in the Budget was the key push to revive and drive progress for the MSME sector. Doubling the budgetary allocation for this important sector, coupled with lowering margin cash necessities for startups and selling ease of enterprise for international traders will assist this sector develop additional. It is obvious that the federal government is banking on India’s digital technology basis to energy its revival journey. It is encouraging to see the federal government’s sharpened give attention to adoption of innovative applied sciences like Artificial Intelligence and Machine Learning. We are excited to see the longer term of Indian innovation and financial resurgence unfold over the subsequent few months. And we look ahead to persevering with to companion with the federal government to develop modern technology options that may help the nation’s progress targets, generate employment and strengthen India’s digital innovation capabilities.
Ketan Patel, Managing Director, HP India Market
Today’s price range announcement confirms authorities’s give attention to creating infrastructure and abilities which may have brief and long run advantages to Indian economic system & individuals. From a technology level of view, the incentives for creating digital infrastructure, schooling and skilling spells out the federal government’s intent on creating the nation’s human capital. Steps like worldwide collaboration to develop new abilities will assist Indian youth put together for contemporary job necessities and make them world prepared. The announcement of the National Digital Educational Architecture (NDEAR) is a welcome step, which is able to assist construct a Digital First mindset in the whole schooling system in India and assist college students and educators undertake new methods of studying and educating. In addition, we welcome the doubled allocation for MSME sector which is able to incentivise digital transformation of our small companies which are the spine of our economic system.
Rahul Agarwal, CEO & Managing Director, Lenovo India
The six pillars of the Union Budget 2021 add monumental worth to the financial aid submit the pandemic points and paint a futuristic image for the brand new 12 months. It has managed to handle some of the important thing points round Atmanirbhar Bharat, schooling and Digital India that presents important enterprise alternatives for world corporates equivalent to Lenovo. With the PLI scheme introduced together with the elevated give attention to ‘Make in India’ in this price range, we’re assured that it will encourage native manufacturing, and additional bolster the native PC market. Lenovo can even help the federal government in enriching India’s economic system, by boosting digital infrastructure in the sphere of schooling and extra give attention to selling inclusive improvement. The nationwide schooling coverage additionally creates a chance to construct the Indian EdTech ecosystem to make it greatest throughout the globe for analysis & innovation, and empowers the residents to scale up their abilities.
Manish Sharma, President & CEO, Panasonic India & SA
The Budget offered by the Honorable FM in the background of 5 mini budgets is continuum of reformative measures to spice up the economic system to drive – Job, Demand and Spending. I consider the methodical strategy of figuring out six focus areas the place Health and Infrastructure, with important improve in allocations, sit on the highest is in the correct route to revitalize the economic system and make investments in effectively-being of individuals. For producers, Govt re-iterated its dedication to reforms like introduction of Production Linked Incentive (PLI) scheme with a price range outlay of Rs 1.97 lakh crores throughout 13 sectors which reaffirms their intent to supply impetus to home manufacturing, whereas elevating India’s place as a world manufacturing champion. We look ahead to implementation particulars right here to take part. The elevated spending on infrastructure to enhance roads and public transport can be a optimistic transfer and can present quick access to uncooked materials.
Mike Chen, General Manager, TCL India
We do welcome the current PLI scheme of the federal government. However, we have to ease up the obligation imposed on uncooked supplies retaining in thoughts the make in India thought. We also needs to be getting added incentives in order that transformative measures may be taken. The business contributes 25% of the nation’s GDP.
Avneet Singh Marwah, Director and CEO of Super Plastronics Pvt Ltd, a model licensee for Kodak and Thomson TVs
Government intends to spice up native manufacturing by way of its bulletins in numerous PLI scheme in subsequent 5 years. As half of client electronics, televisions ought to be thought of to be included into the scheme. Also a devoted Freight Corridor will probably be a recreation changer for provide chain of manufacturing. By spending on infrastructure, India will probably be aggressive at world stage. Like metals, authorities ought to think about taking again customs obligation on panels as there may be improve of costs by 300% on the uncooked supplies.
Rajeev Singh, Managing Director, BenQ India
A really important price range as India is popping out quick from results of COVID 19, Government has given sturdy emphasis on spending on Infrastructure together with massive push for Atmanirbhar Bharat. Alongside, there isn’t any change in direct taxes largely which have been moderated for companies final time. This will imply extra money in the system and can act positively in the direction of quicker progress of economic system. Government has additionally given further push to schooling and ability improvement section in the price range which is able to consequence in in depth use of technology which in flip will make stronger digital classroom and Blended and Hybrid Learning.
Supria Dhanda, Vice President and Country Manager for India, Western Digital
We congratulate the Government’s initiative in amplifying Atmanirbhar Bharat. Wonderfully captured by our Finance Minister, Atmanirbhar Bharat is an expression of 130 crores Indians who’ve full confidence in their capabilities and abilities. Digitisation, Skill Development and Job Creation are obligatory to guide India in the direction of excessive progress and be self-reliant. With fast digitisation throughout industries during the last 12 months, it is an opportune time to boost our spending in coaching imparting digital abilities to the youth. The price range clearly prioritises job creation and rural improvement with beneficiant allocations for numerous developmental schemes. The focus round National Apprenticeship Training Scheme (NATS) with an allocation of INR 3,000 crores will empower a brand new wave of expertise transformation and satisfactory employability alternatives for the Indian youth.
Alok Dubey, Chief Finance Officer, Acer India
At Acer, we consider that the Union Budget 2021 announcement has lined a number of essential points confronted by the economic system and goes to convey progress alternatives regardless of the COVID-19 pandemic. There are a number of areas the place the honourable Finance Minister has introduced allocations of funds. This 12 months the federal government goals to spend Rs 1.97 lakh crore on numerous PLI schemes over the subsequent 5 years, beginning this fiscal. This is in addition to the Rs 40,951 crore introduced for the PLI for digital manufacturing schemes which is able to speed up progress alternatives for the business. And, we glance ahead to an entire coverage and leveraging the identical to kickstart home manufacturing.
Dinesh Aggarwal, Joint Managing Director, Panasonic Life Solutions India Pvt Ltd
As was anticipated, the Union Budget 2021 has centered on our nation’s progress and brings a really optimistic sentiment to facilitate the financial reset. While on one hand there’s a beneficiant allocation in the direction of the continued struggle in opposition to COVID and the vaccination drive; on the opposite aspect, there’s a clear goal of reviving India’s GDP progress throughout all sectors, i.e. agriculture, manufacturing, and providers. This was seen in the key fiscal help introduced for Farm produce, the PLI scheme of 1.95 Lac crores over 5 years, for enhancing manufacturing and the opening of FDI in the Insurance business as much as 74%. Reflecting on the continued give attention to ‘AtmaNirbhar Bharat’, the Finance Minister has introduced prolonged help for the manufacturing of digital elements & sub-assemblies, together with cellphones. The public infrastructure has acquired a powerful enhance with particular allocation for NHAI for continued vigour on freeway development and enchancment of the roads; with particular price range allocation for some of the states, together with Assam. REIT will probably be vastly inspired because of the abolition of dividend distribution tax and, it will speed up the actual property progress, particularly since debt financing by FII has been allowed now. This lengthy-awaited concession will steamroll world funding into India’s actual property sector resulting in a big increase in Housing and Commercial infrastructure. Specifically for the Electrical Construction Materials business, discount of import duties on metal flats & copper scrap, lengthy-awaited revision in the labor legal guidelines (together with girls being allowed to work in evening shifts) are some of the numerous steps that may create a powerful export-led economic system in the Manufacturing sector. With particular sops in renewable vitality, particularly for Solar; the federal government goals to encourage home manufacturing by making certain a uniform coverage throughout the states. Thus, vitality technology & home Solar module capability will basically stay a key space of focus. One anticipated related encouragement for EV adoption in India, however maybe it was not overtly talked about in the FM’s price range speech. Focusing on rebuilding India, it is a very optimistic price range for the business because the PLI scheme will speed up progress and encourage world manufacturing companies to create giant-scale employment in manufacturing and allied areas like product improvement and design, contemplating the expertise pool which exists throughout India.
Sanjay Gupta, Vice President and India Country Manager, NXP Semiconductors
The Union Budget 2021 has been the primary-ever digital price range marking a serious milestone in the digital journey of India. The price range has put the a lot-wanted give attention to Atmanirbhar Bharat and the necessity to develop the innovation and R&D sector in the nation on a sustained foundation. We are excited concerning the announcement of INR 50,000 crores for the National Research Foundation over the interval of 5 years. This will certainly enhance the general analysis and innovation ecosystem of the nation. R&D is the lifeline for any group and any nation to proceed to prosper in altering dynamic occasions. In India, we’ve got to focus parallelly on ‘design-in-India’ in addition to ‘Make-in-India’ to proceed to be forward of the curve. Looking ahead to having an increasing number of companies leverage this elevated R&D price range from govt and develop future researchers and Innovators. The voluntary automobile scrapping coverage would play a serious half in phasing out the outdated and unfit autos thereby encouraging uptake in setting-pleasant means of transport like electrical autos. Overall, we’re hopeful that Budget 2021 will propel India in the route of turning into a world financial superpower.
Leo Joseph, Managing Director, Xerox India
As anticipated, the core wants of the economic system, popping out of a pandemic-hit 12 months, take prominence in the Union Budget 2021. However, lengthy-time period, the price range focuses on the D in India – standing for each improvement and digitization. The progressive price range lays the roadmap for higher digitization in governance. A price range offered and disseminated in a digital format for the primary time to a digital census will pave the best way for the federal government to serve residents by way of technology and information extra seamlessly. The promise of ‘minimum government, maximum governance’ can solely be realized by way of higher investments in technology and give attention to higher R&D and innovation – which the price range does.”
Union Budget 2021: How heads of technology companies in India rate it – Times of India
Vivek Sharma, MD, India, Lenovo Data Center Group