What ‘Electronic Budget’ of 2022 will have for Tech Sector

    The government reports that 75 percent of the global digital talent is in India. As a nation with the potential to become a technology leader, many are anxious to see what the upcoming electronic budget will have for the tech sector.

    Covid has been extremely beneficial for the tech industry. Growing sectors include electronics manufacturing services, semiconductor technology, and manufacturing. Education and financial technology have also established themselves in the Indian market in the past year.

    India has a large capacity for internet consumption. The existing Indian internet subscriber base is around 750 million and is expected to reach 950 million by 2025. We present some insider recommendations on how to facilitate the growth of the sector.  

    Focus on Production

    According to experts, the government should develop the country as a manufacturing hub. Subsidies and incentives should be provided for the production of consumer tech goods. ‘Make in India’ and ‘Digital India’ are among initiatives that industry insiders would like the government to pay more attention to.

    Mandeep Arora, Managing Director, UBON said, “This year, the government is expected to take a progressive step towards making India a hub for the manufacture and export of electronic devices. Consumer electronics product export incentives and low GST.”

    Cyber safe

    Recent years have seen an increase in cyber-attacks in the country. An educated workforce that can prevent cyber-attacks and raise awareness is needed. “Our expectation from the Union Budget is on aspects such as cybersecurity skill gap and cybersecurity awareness. We are hopeful of the government increasing spending on cybersecurity awareness and training initiatives to empower cybersecurity resources,” said Sunil Sharma, managing director, sales, Sophos India and SAARC.

    Investment in fiber network

    India should lay down an efficient fiber network in order to support 5G deployment. The country needs undersea networks with other nations, as well as a strong internal infrastructure. Government should implement schemes and policies that will encourage OTTs and cloud service providers to invest in fiber networks.

    According to Manoj Paul, managing director, Equinix India, there is a need for significantly larger investment to lay additional fiber for an increase in capacity and redundancy.

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