IT Sector Hails 2020 Budget Focus On Digitization, Data Parks and AI
4 years, 11 months ago

IT Sector Hails 2020 Budget Focus On Digitization, Data Parks and AI

ABP News  

Commending Finance Minister Nirmala Seetharaman for presenting a pro-active Budget for ensuing fiscal 2020-21, the IT sector stakeholders on Saturday said focus on data and digital were the centre piece of the finance bill. "The Budget focus on IoT, data parks and AI will make India a strong contender among the top digital economies, globally," said White Rivers India co-founder Shrenik Gandhi. "Making policy for data centre parks for digital resources like fintech, AI, aggregator platforms, connecting 1-lakh villages via optical fiber internet is great news as it will deepen digital penetration into the country," said Groww co-founder and chief operating officer Harsh Jain in a statement. Zephyr Peacock managing partner Mukul Gulati said the abolition of the DDT would help foreign investors, while tax benefits for infra investments for sovereign funds would help increase investment activity.

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History of this topic

Indian IT Services Companies See Growth in Revenue, But Hiring Slows Down
2 months, 2 weeks ago

Indian IT Services Companies See Growth in Revenue, But Hiring Slows Down

Live Mint  

Indian IT companies are seeing a rebound in revenue growth, with four of the five largest companies hiring more people in the first six months of the fiscal year compared to the year-ago period. This positive guidance comes at a time when the companies' order books have shrunk in H1FY25 compared to H1FY24, but the current quarter (Q3) is not …

Centre convenes roundtable on how to finance AI start-ups
4 months, 1 week ago

Centre convenes roundtable on how to finance AI start-ups

Hindustan Times  

The ministry of electronics and information technology on Tuesday held a roundtable on how to finance AI start-ups under the ‘INDIAai’ mission, during which venture capitalists, angel investors, and AI start-ups told government officials that giving grants alone do not work, and that funds should be given to entities that are actually working in the AI space, three people aware …

Ep7: Is India blazing a trail on green data centres? | The Interface podcast
5 months, 2 weeks ago

Ep7: Is India blazing a trail on green data centres? | The Interface podcast

The Hindu  

Artificial intelligence has sparked an insatiable appetite for computing power and data storage, driving rapid expansion of data centres - the physical backbone of the digital world. Their massive, scalable data centre infrastructures power cloud services and AI applications that are becoming increasingly integral to business operations and daily life. From the pressing need for sustainable energy solutions to the …

Gautam Adani credits governance as ‘single most important catalyst’ for infrastructure growth post 2014
6 months, 3 weeks ago

Gautam Adani credits governance as ‘single most important catalyst’ for infrastructure growth post 2014

Op India  

Adani Group Chairman Gautam Adani on 19th June compared the Indian Economy during the term of the Modi government to an aircraft taking off, while saying that the period before that since 1991 was about building foundations and the runway. He said at the event, “almost every foreign visitor that I meet these days talks about the extraordinary infrastructure growth …

DPI value addition can grow up to 4.2 pc
10 months, 2 weeks ago

DPI value addition can grow up to 4.2 pc

Deccan Chronicle  

Chennai: Digital Public Infrastructure with entities like Aadhaar, UPI and FASTag contributed 0.9 per cent to the GDP in 2022 and is expected to increase their economic value addition to 2.9 – 4.2 per cent by 2030, said NASSCOM. Apart from the 0.9 per cent economic value add, DPIs also contribute to financial benefits, ecological benefits and process efficiencies and …

Budget 2024: MSME expects special package, implementation of the ONDC to boost growth
11 months, 2 weeks ago

Budget 2024: MSME expects special package, implementation of the ONDC to boost growth

India TV News  

The MSME sector wants Finance Minister Nirmala Sitharaman to come out with a special package for small and medium enterprises to ensure greater availability of institutional credit at competitive rates to enable it to play a bigger role as India moves closer to becoming a USD 5 trillion economy. Expectations include addressing the uneven power dynamic between banks and MSMEs, …

Technology to contribute 20-25% of Indian GDP by 2025-26: IT Minister Chandrasekhar
1 year, 6 months ago

Technology to contribute 20-25% of Indian GDP by 2025-26: IT Minister Chandrasekhar

The Hindu  

The Indian Government has set a goal of making technology 20-25% of the country’s GDP by 2025, India’s IT Minister Rajeev Chandrasekhar has told Indian American entrepreneurs and asked them to be part of this story of India. “Over the last nine years, the digital economy has expanded, diversified and currently there isn’t a slice or space in the tech …

Internet economy to become 12–13% of GDP by 2030: Report
1 year, 7 months ago

Internet economy to become 12–13% of GDP by 2030: Report

The Hindu  

India’s internet economy — B2C e-commerce firms, online service providers, ed-tech companies, and so on — will hit $1 trillion in value by 2030, up from $175 billion in 2022, a report by Google, Bain & Company and Temasek estimated. The key thrust would come from “Tier 2+ locations,” the report said, emphasising smaller towns and rural areas, where the …

Budget 2023: Towards a Prosperous and Digitally Empowered India - News18
1 year, 11 months ago

Budget 2023: Towards a Prosperous and Digitally Empowered India - News18

News 18  

At the onset of the Union Budget 2023 speech, Finance Minister Nirmala Sitharaman mentioned that India remains one of the world’s fastest-growing economies, despite global headwinds. One aspect that particularly came across in the budget announcements was the government’s commitment to building a tech and knowledge-focused economy, which will be a key driver in India’s growth story in the years …

Budget 2023-24 Expectation: It is time government focused on the hardware sector
1 year, 11 months ago

Budget 2023-24 Expectation: It is time government focused on the hardware sector

Firstpost  

India’s IT sector has produced a large amount of foreign export revenue for India and has also gained an awe-inspiring reputation across all industries by creating a large number of job opportunities. In the same vein, the Indian IT service sector might have started producing mobile phones within the country but I think the time has come for India to …

Budget 2023: From Tax Relaxation And Funding To Boost Digital Ecosystem. Know Start-Up Wishlist
1 year, 11 months ago

Budget 2023: From Tax Relaxation And Funding To Boost Digital Ecosystem. Know Start-Up Wishlist

ABP News  

India is home to the world’s third-largest start-up ecosystem after the US and China. "We are expecting additional tax benefits and lower tax rates and extending the scope of employee stock ownership plan taxation reforms to start-ups," said Lalit Arora, co-founder, VingaJoy, a firm that deals with consumer electronics. Shilpa Bhatia, founder, The Clothing Rental, an e-commerce portal said, “The …

Budget 2023: Industry Pins Hopes On Increased Govt Funding And Support For Online Initiatives
2 years ago

Budget 2023: Industry Pins Hopes On Increased Govt Funding And Support For Online Initiatives

ABP News  

Union Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2022-23 on February 1, 2022. Hence, a natural expectation for most of India's population from Budget 2023 is to see a range of positive income tax changes to support households who have been hit by rising costs. There is palpable anticipation around the upcoming Budget 2023, which must …

India@75: IT sector’s historic rise since Independence to become a global powerhouse
2 years, 3 months ago

India@75: IT sector’s historic rise since Independence to become a global powerhouse

Firstpost  

Considering its fast growth pace, India is at the centre of global IT attraction with players betting big on the future of IT in India Technology has changed the way we communicate, pay bills, commute, interact with governance, and even the way we perceive entertainment. Our government’s flagship initiative, Digital India, has aided in spreading internet access in the remotest …

India’s digital economy to see exponential growth to $800 bn by 2030: FM
2 years, 9 months ago

India’s digital economy to see exponential growth to $800 bn by 2030: FM

Live Mint  

India's digital economy is expected to witness exponential growth to $800 billion by 2030 on the back of rising internet penetration and increasing income, Finance Minister Nirmala Sitharaman said on Friday. "They may function from one place but they may serve any number of districts but we are also targeting 75 districts to be covered and I guess the DPU …

Budget 2022: Businesses welcome Modi govt's futuristic vision, digital-first India
2 years, 11 months ago

Budget 2022: Businesses welcome Modi govt's futuristic vision, digital-first India

India TV News  

Budget 2022: Finance Minister Nirmala Sitharaman on Tuesday announced Union Budget 2022-23 and laid out the country's vision for the next several years. Anshuman Panwar, Co-Founder, Creditas Solutions Union Budget 2022-23 has laid focus on promoting fintech and technology-based developments which will play a major role in boosting the digital economy. Overall, we believe the Government’s thrust towards clean-tech and …

Union Budget 2022: Budget Wishlist For Digital India Is Ready
2 years, 11 months ago

Union Budget 2022: Budget Wishlist For Digital India Is Ready

ABP News  

New Delhi: With the Union Budget 2022 just two days away, the tech industry is looking at Finance Minister Nirmala Sitharaman with hopes that she would present a budget for the year 2022-2023 that fulfills their expectations. With progressive initiatives such as Digital India, we hope that in the current budget the government will extend export linked incentives especially to …

Union Budget 2022: Fintech Industry Eyes Greater Credit Access To MSMEs
2 years, 11 months ago

Union Budget 2022: Fintech Industry Eyes Greater Credit Access To MSMEs

ABP News  

New Delhi: As Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2022 on February 1, the Indian fintech industry is eyeing more opportunities and allocations, while simultaneously vying to soften the blows from the Covid-19 pandemic. Here are some of the expectations of the fintech industry from the Union Budget: Dilip Modi, founder, Spice Money The fintech industry …

This decade will be ‘India’s techade’, says PM Modi
3 years, 6 months ago

This decade will be ‘India’s techade’, says PM Modi

The Hindu  

Prime Minister Narendra Modi on Thursday said that data and demographic dividend combined with India’s proven tech prowess presents massive opportunity for the country, and exuded confidence that this decade will be ‘India’s techade’. Speaking at a virtual event to mark the completion of six years of Digital India, Mr. Modi said India is also conscious of its responsibilities as …

Budget 2020: As India sees slowest economic growth in 11 years, here's what startups need to flourish
4 years, 11 months ago

Budget 2020: As India sees slowest economic growth in 11 years, here's what startups need to flourish

Firstpost  

In 2014, PM Modi launched Startup India and Funds of Fund for the newest sector of the economy but that is not enough. Last year, the government gave the startup community more clarity on angel tax but like in the first term, NDA 2.0, too, is not paying enough attention to startups. Soon after he took over as the prime …

IT cos to shed 5-10% of mid-level workforce: ex-CFO of Infosys
5 years, 2 months ago

IT cos to shed 5-10% of mid-level workforce: ex-CFO of Infosys

Live Mint  

Information technology companies in the country have no choice but to lay off at least five to ten per cent of their middle-level staff to ward off margin pressure and become more agile, IT industry veteran V Balakrishnan said on Thursday. The former Chief Financial Officer of software giant Infosys Ltd said the companies have no choice because they all …

IT firms may let go of 5-10% of mid-level workforce: ex-Infosys CFO
5 years, 2 months ago

IT firms may let go of 5-10% of mid-level workforce: ex-Infosys CFO

The Hindu  

Information technology companies in the country have no choice but to lay off at least five to ten per cent of their middle-level staff to ward off margin pressure and become more agile, IT industry veteran V. Balakrishnan said on Thursday. “Also, they have to get employees who understand new technologies, they have to get rid of some of the …

Budget 2019: With focus on innovation, India's IT startups call for higher tax incentives
5 years, 6 months ago

Budget 2019: With focus on innovation, India's IT startups call for higher tax incentives

India Today  

At a time when there has been a slowdown in growth, India's information technology sector has requested the government to focus on boosting innovation in services. "Now is the time for the Indian IT industry to shift focus from services, people and process related approach to new innovative technologies like Machine Learning, AI and Cloud Computing," he said. "World's leading …

Fintech, Start-Ups Expect Tax Sops, Funding Access, Digital Push In Upcoming Budget FY20
5 years, 6 months ago

Fintech, Start-Ups Expect Tax Sops, Funding Access, Digital Push In Upcoming Budget FY20

ABP News  

NEW DELHI: Fintech firms and start-ups expect the government to usher in a new set of reforms in the upcoming full Budget for the current fiscal and hope for tax relief, funding access, and further push to digital economy. Gaurav Chopra, founder CEO of online aggregator of financial products IndiaLends, said the government should push forward new reforms as part …

Fintech, startups expect tax sops, funding access, digital push in upcoming Budget FY20
5 years, 6 months ago

Fintech, startups expect tax sops, funding access, digital push in upcoming Budget FY20

Firstpost  

Fintech firms and startups expect the government to usher in a new set of reforms in the upcoming full Budget for the current fiscal New Delhi: Fintech firms and start-ups expect the government to usher in a new set of reforms in the upcoming full Budget for the current fiscal and hope for tax relief, funding access, and further push …

Budget 2019: Start-ups expect tax reforms from government for current fiscal year
5 years, 6 months ago

Budget 2019: Start-ups expect tax reforms from government for current fiscal year

India TV News  

Fintech firms and start-ups expect the government to usher in a new set of reforms in the upcoming full Budget for the current fiscal and hope for tax relief, funding access, and further push to digital economy. Gaurav Chopra, founder CEO of online aggregator of financial products IndiaLends, said the government should push forward new reforms as part of Digital …

Union Budget 2019: IT industry, startups meet Anurag Thakur to discuss data protection, tax issues – Firstpost
5 years, 6 months ago

Union Budget 2019: IT industry, startups meet Anurag Thakur to discuss data protection, tax issues – Firstpost

Firstpost  

New Delhi: Ahead of the Budget, representatives of the tech sector and industry bodies like Nasscom, IAMAI and MAIT met Minister of State for Finance Anurag Thakur on Saturday to discuss various issues, including tax structure, and share their views on strengthening the digital economy. Other issues, which dominated the discussion, included digital infrastructure and role of government, regulation of …

IT industry, startups meet Anurag Thakur to discuss data protection, tax issues
5 years, 6 months ago

IT industry, startups meet Anurag Thakur to discuss data protection, tax issues

India TV News  

Ahead of the Budget, representatives of the tech sector and industry bodies like Nasscom, IAMAI and MAIT met Minister of State for Finance Anurag Thakur Saturday to discuss various issues, including tax structure, and share their views on strengthening the digital economy. Other issues, which dominated the discussion, included digital infrastructure and role of government, regulation of digital economy especially …

India’s digital infrastructure will revive economy: Nilekani
5 years, 8 months ago

India’s digital infrastructure will revive economy: Nilekani

Live Mint  

Bengaluru: Co-founder and Chairman of Infosys Technologies, Nandan Nilekani, said on Monday that India’s digital infrastructure will play a major role in reviving the economy. He was addressing FICCI members at the National Executive Committee Meeting on ‘Digital India and its Impact on Economy and Industry’ in Bengaluru. According to Nilekani, the country has witnessed dramatic transformation through Aadhaar-based e-KYC …

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