Industry experts hail decision on AI, digitisation
Several industry experts expressed their satisfaction over emphasis laid in the Union Budget proposals presented by Union Finance Minister Nirmala Sitharaman as the right step to make India the world's third largest economy.
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Visakhapatnam Several industry experts expressed their satisfaction over emphasis laid in the Union Budget proposals presented by Union Finance Minister Nirmala Sitharaman as the right step to make India the world's third largest economy.
Hailing the new thrust, Priya Ranjan Panigrahy, CEO and founder of CEPTES Software said AI and digitisation are the engines of progress and prosperity, fueling a new era of growth and development in India. This has shown in the latest Union budget 2023 which is pronounced by FM.
The Indian government has been actively promoting the adoption of technology and IT in various sectors of the economy as a means to drive economic growth, improve governance, and enhance the delivery of public services.
"India's emergence as a leader in IT and technology is a clear signal that the country is ready to play a major role on the global stage," Panigrahy said adding the digital transformation of India is an unstoppable force, creating a more efficient, innovative and connected nation for generations to come. AI and digitisation have the power to transform the way we live, work and communicate, creating a smarter, more connected India.
According to Zaiba Sarang, co-founder, iThink Logistics, adopting green and sustainable practices is the way toward the future, which has been acknowledged by the government quite profusely in the budget. The Union Budget 2023 places a strong emphasis on environmental responsibility.
"The 'Panchamrit' initiative is aimed specifically at achieving net zero carbon emissions by 2070, thus contributing to the green growth of the nation. Continuing to provide impetus for EV adoption in India, the government has taken robust steps through exemptions on customs duty levied upon the machinery imported for the manufacture of lithium-ion cells for EV batteries. The budget has also adequately covered infrastructure development by allocating Rs. 75,000 crore, including private investment, towards improving first and last-mile delivery, she stated.
Sujit Patel, founder and CEO, SCS Tech the introduction of National Data Governance Policy will enable access to anonymised data. Under the National Data Governance Framework Policy, it is proposed to start compiling significant collections of anonymized data.
According to Patel, the policy aims to create a sizable database of anonymous, non-personal data that is collected from government agencies, departments, and organisations as well as anonymous data that private companies voluntarily reveal. It is anticipated that this enormous database will be used by businesses to train their AI models and aid in research for commercial objectives given the sizable community of Indian startup researchers and the nation's AI ecosystem.
Dr. Sanjay Katkar, Joint Managing Director & CTO of Quick Heal Technologies said "the Centre has put a strong emphasis on becoming a technology-driven and knowledge-based economy through this budget. With more than 400% increase in infrastructure investment, in comparison to 2014, comes a greater need to protect our country's critical data and IT assets as well. With "Make AI in India and Make AI work for India" objectives, 3 specialized AI centers being set-up in top educational institutions will create an effective AI ecosystem empowering India to lead the AI revolution globally."
Parag Khurana, Country Manager, Barrcuda Networks India, said "cybersecurity has for long been a critical matter of concern, especially in light of rapid digitization. With the rollout of 5G and cloud migration, there has been a significant uptick in cyberattacks across the country. In 2022 we witnessed the rise of ransomware against critical infrastructure, with education (15%), municipalities (12%), healthcare (12%), infrastructure (8%), and financial (6%) being the five key targeted industries according to research.
"Provisions like the establishment of three CoEs for AI in top educational institutions noting that 'Make AI in India' and to 'Make AI work for India' will support the creation of a stronger technology infrastructure in the country. This will further boost the government's vision of 'Digital India' and 'Atmanirbhar Bharat'. That being said, Budget 2023 amply highlights the greater focus that the government has placed on string digital infrastructure and technology at large. And, we are hopeful that the budget announcement will have an inherently positive effect on the sector."
