Why Budget 2021 should focus on AI technology & robotics

India has, so far, seen very low robot adoption compared to its regional and global peers. According to a recent study, the total number of jobs related to developing and deploying new technologies, like automation, AI and robotics-related applications, may grow to 20 to 50 million globally by 2030 and more than 375 million workers globally. "Reduction of customs duty/IGST and providing tax breaks/incentives to robotics adopters can boost demand," Hi- Tech Robotics Systemz founder & CEO Anuj Kapuria said. It is among the first companies in industrial autonomous and AI technology in the country. "For accelerating technology and R&D, setting up of robotics centres of excellence, incubation centres, continued research grants for robotics R&D and continuation of income tax deduction will be the key drivers," he said.