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budget 2020


Budget 2020: Accelerating growth for MSME - Can AI help?

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Budget 2020: India has made rapid strides in expanding the MSME (Micro, Small and Medium Enterprise) sector and adopting digital technologies. Technologies like Artificial Intelligence (AI) offer great promise and raise apprehensions at the same time and it will take the concerted efforts of all key stakeholders in the ecosystem to create a framework for maximum benefit while acknowledging the challenges in the most pragmatic manner possible. Here, we seek to explore how best the AI technology toolkit can accelerate business performance for MSMEs; followed up with a set of recommendations for the key stakeholders in this arena. The time is right and it is now. Embedding AI across key business functions has the potential of driving exponential impact on key business levers- innovation, growth and efficiency.


Highlights of Budget 2020 for the Indian Technology Industry

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To bring the Indian Economy on the right track and to achieve the Modi Government's target of USD 5 Trillion Economy, the Union Budget 2020 is expected to be a major focus on three themes Aspirational India, Caring society and Indian Economic Development by taking into consideration the Indian Technology sector and Artificial intelligence initiatives and Startups. On February 1, the Finance Minister Nirmala Sitharaman presented the Union Budget 2020 in the Parliament having the several major announcements.


Technology industry cheers Budget's focus on AI, ML; asks for revival of SEZ policy

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The technology industry has cheered the Union Budget 2020's thrust on the technology sector applauding various announcements including the Rs. While presenting the Union Budget, finance minister Nirmala Sitharaman said that technology, will be used for better monitoring of the economic data, building a preventive regime for diseases under Ayushman Bharat, capturing and protection of intellectual property rights, improving agriculture and sea-ports and delivery of government services. A new scheme for incentivising domestic manufacturing of electronics specifically mobile phones will also be announced, she added. Debjani Ghosh, President, NASSCOM said, "Budget 2020 and the finance minister's speech has well-articulated India's vision on not just being a leading provider of digital solutions, but one where technology is the bedrock of development and growth'. Nasscom welcomed the announcements on Quantum Computing, Data Center policy, IPR portal, CoE etc, along with the removal of Dividend Distribution Tax which was a long pending demand from the industry. It, however said that the Budget lacked focus on accelerating service exports from the country. "The technology services sector has been a key contributor to India's exports and GDP, NASSCOM had recommended that new investments by services companies in SEZs should also be eligible for the lower rate of 15%.


'Made in India' phone, artificial intelligence, machine learning and all that Budget 2020 has for the …

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'Made in India' phone, artificial intelligence, machine learning and all that Budget 2020 has for the technology sector.


From AI to 5G connectivity to big data; Can technology help tackle climate emergency?

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The raging Australian and Amazon wildfires have raised a burning question for all of us - why the very technology, that has been a major facilitator to human evolution and growth could not predict, manage or control its destruction? To those of us who are in the business of technology, it is time to ask a few tough questions in our boardroom meetings and take ownership of solving the problem. After all, what is growth worth if the planet itself is in peril? As someone who has witnessed the digital revolution unfold, I may not have a full-proof plan to address the climate emergency, in fact, we don't even have the visibility of all evolving technologies that may be required to solve the climate emergency. But, I am clear and convinced that we have to start now and start with the available technologies which in their own right are very powerful and transformational.


Budget 2020: Can Budget boost Artificial Intelligence sector?

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One of the biggest areas where countries are vying for dominance is Artificial Intelligence, which is expected to have a huge impact not only in commerce but also in areas like health, national security, cybersecurity, food security, education, and global warming. Unfortunately, countries like USA and China are leaving India behind in terms of AI research, AI entrepreneurship and government investment in AI. AI Grand Challenges: The government can announce AI grand challenges that are open to teams from academia and industry that involve solves an important problem for India. The government's role in this would be to give a crisp problem definition, provide access to the data and of course provide a good cash prize. Such AI grand challenges will result in important problems getting solved, new startups and jobs, and capture the nation's imagination and give an impetus to the field of AI. Make it easier to access capital: One of the biggest challenges that startups face is early-stage funding. The government could announce a fund on the likes of Singapore's Temasek that will invest only in early-stage Indian AI startups. Also, the government could announce lower long term capital gain's tax for investing in AI-based startups. This will encourage more angel investment into AI start-ups. Improve AI talent in the country: While there are a lot of engineers being produced in India, we still lag behind other countries in terms of the number of AI PhDs and AI research. The government should make more research grants available for AI research and should also offer incentives to institutes that invest in AI training. Ease of doing Business: Government focus should be on bringing policies that encourage AI companies. There should be less red tape, more freedom from the government departments so that entrepreneurs can be focused on building solutions without unnecessary distractions.