With the unveiling of the Union Budget 2025-2026, leaders from the technology sector are sharing their insights and reactions to the government's initiatives aimed at fostering innovation, self-reliance, and growth in various tech industries.
With a focus on enhancing local manufacturing, expanding educational opportunities, and integrating advanced technologies, industry executives express optimism about the potential impact of these measures on India's position in the global tech landscape.
Union Budget 2025: Tech industry experts react
Today's Union Budget 2025, focused on a 'Viksit Bharat,' presents a powerful vision for India's IT industry and its future workforce. Also, the establishment of five National Centers of Excellence can address the growing demand for skilled professionals in areas crucial to building a tech-for-good India. In line with this announcement, here are the industry reactions from top tech players:
Priyanka Sharma, Head, MONAKA Software R&D Unit, Fujitsu Research of India
The expansion of IITs and the new AI Center of Excellence for education will further strengthen this talent pipeline, ensuring India remains at the forefront of technological innovation. The budget's commitment to a Deep Tech Fund of Funds and the PM Research Fellowship scheme is equally significant. These initiatives will provide critical support for next-generation startups and research institutions, fostering a vibrant ecosystem of innovation and attracting top talent.
Manpreet Singh Ahuja , Chief Digital Officer and TMT Sector Leader, PwC India
Strengthened telecom connectivity, AI-driven supply chains, and 5G-powered digital engagement will accelerate growth across industries, from fintech to entertainment. By prioritizing AI and emerging technologies, this budget lays a strong foundation for India’s dominance in the global tech landscape.
Jaspreet Singh, Partner and GCC Industry Leader,Grant Thornton Bharat
Budget focus in establishing a deep tech fund for the country presents a transformative opportunity to drive innovation and economic growth. As noted by industry experts, investing in the development of a robust deep tech ecosystem transcends immediate financial considerations; it is an investment in the future—a commitment to fostering innovation that can solve some of the most pressing global challenges.
Viksit Bharat: The Blurred Lines
While the budget addresses many challenges, it appears more reactive and oriented towards popular appeals, partially overlooking emerging opportunities. For example, the crypto industry and the lack of AI-based skill gaps remain untouched. In line with this here are two industry reactions based on this loophole:
DD Mishra, VP Analyst at Gartner
The plans for establishing five national Centres of Excellence for AI in Education, developed through global partnerships, are commendable. Integrating AI into academic and research institutions, particularly the Indian Institutes of Technology (IITs), will foster innovation and technological advancements. Nevertheless, addressing skill gaps is crucial to enable the growth of AI adoption and support global capabilities.
Sumit Gupta, co-founder, CoinDCX
Unfortunately, there is no relief for the crypto industry in the Budget 2025. Despite providing the government with ample justification regarding the ambiguity in the language of the current TDS Section 194S, the concerns around Indian wealth being shifted offshore and the significant loss to the tax exchequer have been overlooked.
