/Budget 2019: This is what Industry has to say

Budget 2019: This is what Industry has to say

piyush goyal budget

Rajesh Agarwal, Co-Founder, Micromax

Rajesh Agarwal, Micromax“We, at Micromax, respect and welcome the government’s budget reforms. This year’s Budget has brought significant changes, focusing on various key aspects which are largely stressed upon our overall economic growth – rural, agriculture, job creation, healthcare, housing, structural reforms and infrastructure development, which will help stimulate and strengthen the Indian economy. The emphasis on establishing a programme to bring in direct efforts towards building a holistic ecosystem for Artificial Intelligence is an impressive development.

The government’s proposal of giving a full tax rebate to individual taxpayers with an income of up to Rs 5 lakh will empower the Indian consumer.

Moreover, the government’s announcement around expanding Common Service Centres and creating digital infrastructure in the villages will be a significant step in the Digital India mission and growth of the Make in India initiative. With India leading the consumption of voice calls and mobile data usage, it is fascinating to note our constant progression towards becoming a global hub for manufacturing.”

Neeraj Sharma, Country Head, Unisoc (Spreadtrum)

Neeraj Sharma

“The interim budget 2019 carries strong markers of the success of the digital revolution in India, further paving the way for India to emerge as the digital economy in times to come. As announced by interim Finance Minister Piyush Goyal, India presently leads the world in the consumption of mobile data, which has grown 50X in the last 5 years. Owing to Make in India, the number of mobile and parts manufacturing companies have also grown from a mere 2 to 268, creating enough jobs in the economy. The government further aims to support leading technologies like AI by developing a National Artificial Intelligence portal and has set its eyes on achieving one lakh digital villages in the next 5 years. This serves as a strong growth impetus, with the next wave of digitalization belonging to the hinterlands of India. Driven to transform mobile communication, we at Unisoc look forward to supporting manufacturing products that will enable this next wave of digital revolution in India.” 

Sudhir Kumar, Founder and CEO, Tambo Mobiles

Sudhir-Kumar,Tambo Mobiles

“The interim budget has put the efforts of homegrown budget mobile phone brands of deeper penetration in rural areas in the right direction. Tambo supports the government’s goal of increasing job opportunities in rural areas and with an enabling environment, the company looks forward to driving deeper mobility. For the same, we are also looking forward to setting up our own facilities for production. In 2019, as we strengthen our distribution network further, we aim to play our part in helping the country move forward economically and technologically.”

Carl Ngo, Co-Founder and CEO, Mobiistar

Carl Ngo

“The Budget 2019 is certainly pro-growth and will increase the purchasing power of the Indian middle class. It is heartening to see that the government recognizes the poignant role of digital technology in India’s evolution to a five-trillion dollar economy over the next five years.

Announcement around national scheme on Artificial intelligence is a welcome move and will give an impetus to the technology ecosystem in India. With focus on development, it is a progressive budget and will be a next big leap in India’s growth story. The delivery, however, will be contingent on effective implementation of these policies.”

Ashwin Bhandari, CEO, iVOOMi

Ashwin Bhandari,CEO iVOOMi

“Focus on Digital India in the budget, vision of creating 1 lakh Digital Villages will empower the real India and fuel overall growth of the economy and will bring comprehensive growth for the industries. Declaration on schemes for incentives to SMEs and startups is a welcome move, to enable small businesses that in turn will support services to different businesses, this should promote smaller manufacturers too to build the ecosystem. Boost in the direct tax collections, enabling bigger capital expenditures (declared in Budget), incentives to farmer, basic tax slab raised to 5 lakh – are noticeable moves towards economic growth that will fuel the industrial growth in midterm.”

Vinu Cheriyan, CFO and Director Operations, Sennheiser India

Vinu Cheriyan, Sennheiser India

“For this year’s budget, the government has made some significant announcements that are aimed towards strengthening Digital India. The creation of 1 lakh Digital Villages in the next 5 years will truly set the tone for a digitally empowered country. We applaud the government’s focus on digital infrastructure and the digital economy.

With India leading the consumption of mobile data usage in the world and the cost of voice and data calls being one of the lowest, there is immense potential for the growth of the entertainment industry, further giving an impetus to the audio accessories industry.

The government’s Make in India initiative has also resulted in positive impact, with the mobile and parts manufacturing companies increasing from 2 to more than 268, creating huge job opportunities across. Taking that further, the aim is to expand rural industrialization using modern digital technologies to generate massive employment.

Further, a national programme on ‘Artificial Intelligence’ envisaged by our government is a welcome initiative towards putting futuristic technologies like AI in the hands of the Indian consumer.

With India poised to become $5 trillion economy in the next 5 years, the government’s proposal of giving a full tax rebate to individual taxpayers with an income of up to 5 lakh will empower the Indian consumer.”

Arun Gupta, Founder and CEO, MoMagic Technologies

Arun Gupta, MoMagic

“The national program on AI by the Indian government is in the right direction to create grass root level interest among Indian techies. With big data and analytics, AI will play a key role in several areas including retail, logistics, pharma, e-commerce and security etc. We also foresee AI tech to push the AdTech sector and in turn the digital marketing and mobile marketing.”

Neel Juriasingani, Co-Founder and CEO, DataCultr

Neel Juriasingani, DataCultr

“Startups and the industry can take clues out of the various topics touched upon in this budget, to understand the direction and focus. Startups will have an integral role to play towards Vision 2030, it’s a great opportunity.

The concept of Digital villages and rural industrialisation opens up great avenues for companies and startups like us in the IoT and AI space, as well as for those working on building digital infrastructure of a connected India.”

Soumitra Gupta, CEO, Togofogo

Soumitra Gupta Togofogo

“Budget 2019 brings a new dimension towards Digital India. In the last few years, ecosystem in India has already witnessed the first level of growth and the situation is improving. Startups will have a huge contribution to make towards Vision 2030, it’s a great opportunity.

The concept of Digital Village will open up new avenues for companies like us and will help to reach to the core India and hence accessibility to a wider audience.”

Raman Mittal, VP-Marketing, TO THE NEW

Raman Mittal

“The Union Budget 2019 provides a great push towards technology adoption. With the National Artificial Intelligence portal to be developed soon, it is good to see the focus increasing on leveraging best-in-class technologies to improve the overall quality of life in India. The idea of Digital Villages & Rural Industrialisation is a great impetus for companies like us building digital infrastructure for a connected India.”

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