Union Budget 2023: Rajiv Srivastava, MD, Redington Ltd on the expectations from the budget for technology solutions and digital services sector

Rajiv Srivastava, MD, Redington Ltd

“In the upcoming Union Budget 2023, we look forward to policy initiatives which will accelerate our journey to a $10 T economy in the near term. Economic growth is now increasingly driven by digital transformation and therefore investment initiatives that lead to the build-out of a quality digital infrastructure – data centres and high-speed internet – will be crucial.

 India is a global leader in technology services and we expect incentives for investments in new innovative technologies like Artificial Intelligence, Blockchain, Metaverse, 5G, Internet of Things, and Data Sciences to ensure we maintain our leadership. We have to encourage people to participate in the digital economy and towards this, the budget should also address the need for talent and skilling in digital technologies. This has the potential of creating a range of sustainable jobs.

 We must aspire to become the global hub for innovation and our capabilities in technology can make that possible. The budget should provide an incentive structure for creating intellectual property in the country. Sectors like Healthcare, Green Energy, Retail, Fintech, Research and Development and others can benefit immensely, help improve the quality of life for all citizens and make us a real powerhouse.”