Digital technology and connectivity continue to be the cornerstone of India’s growth and leadership

CP Gurnani, MD & CEO, Tech Mahindra

“2020 has been an unprecedented year and we hope that the upcoming budget will address the challenges faced by businesses and propel the economy towards faster recovery and growth. Digital technology and connectivity continue to be the cornerstone of India’s growth and leadership. The pandemic accelerated the shift to digital and we need to maintain this growth momentum, as it will have a cascading effect on creating efficient businesses, new jobs and all round development. R&D (Research and Development) spending must be increased in order to accelerate digital transformation and jumpstart education with focus on next-gen technologies, skilling, reskilling and upskilling programs, to nurture our young talent pool and thus accelerate our journey towards an ‘Atmanirbhar Bharat’ (Self-reliant India). We also hope to see focused initiatives to boost consumer sentiment, accelerate infrastructure development, move towards a lower interest rate regime and increase investments in key areas including healthcare and education. From an IT (Information Technology) perspective, we expect the government to create a fund for product companies along with extended SEZ (Special Economic Zone) benefits in the new normal of remote working, besides nurturing an ecosystem for deep tech startups in areas including blockchain, artificial intelligence, augmented reality and virtual reality. India is on the path of a higher growth trajectory and the vision of a $5 trillion economy can be achieved with focus on economic growth and development.”