“We welcome the progressive initiatives announced in the Union Budget 2023, focusing on Artificial Intelligence, 5G, youth skilling, Green Growth, data governance, consumer empowerment, and customs duty relief for mobile phone components—all these initiatives will help intensify the focus on making India a skill capital for the world, a consumption growth economy.
The budget’s focus on green growth will have a multiplier effect on industrial sustainability, leading to country’s goal of net-zero carbon emission by 2070. Centres of Excellence for Artificial Intelligence, one hundred labs for 5G applications in engineering institutions are very positive steps taken to spur breakthrough innovations in the field of education, agriculture, transport, and healthcare. Further, an impetus to R&D for startups and academia that utilizes data for their growth will be secured under National Data Governance Policy (NDGFP).
Overall, the first budget of Amrit Kaal lays the foundation for a developed India by providing a framework of growth and development through Skilling, Green Energy, R&D, and Technology, which will accelerate the country’s journey to becoming a $10 Trillion economy in the near future.”