Union Finances 2025: What India tech executives mentioned about FM’s concentrate on AI and ability growth?

Indian Finance Minister Nirmala Sitharaman, pictured above [File]
| Picture Credit score: AP

Tech leaders in India welcomed bulletins from the Union Finances 2025 offered on Saturday, February 1, 2025, by Union Minister of Finance Nirmala Sitharaman.

A significant replace was the removing of revenue tax for these incomes as much as ₹12 lakh per 12 months, which is anticipated to stimulate shopper spending. This was hailed by gadget-makers within the nation, whereas tech leaders appreciated the increasing AI centres of excellence, and investments in AI-related training.

“We welcome the hon’ble Finance Minister’s bulletins of building a Centre of Excellence for AI in Training and making a deep tech fund to catalyze future startups. Because the Financial Survey 2025 highlights, India should capitalize on AI alternatives and leverage its younger and dynamic inhabitants to create a tech-forward workforce for India and for the world. This resonates deeply with Microsoft’s work within the nation and our dedication to place AI within the arms of everybody. We not too long ago introduced our plans to equip 10 million Indians with important AI expertise by 2030,” mentioned Puneet Chandok, President, Microsoft India and South Asia.

Coaching Indian tech staff in the usage of AI instruments with the intention to transition to a extra superior workforce was additionally a significant space of curiosity for different tech leaders.

“The federal government’s concentrate on leveraging know-how as a catalyst for development is essential to propelling India in direction of its world aspirations, making certain innovation drives progress and positions the nation as a pacesetter on the world stage. The bulletins to arrange 5 Nationwide Centres of Excellence for skilling, Atal Tinkering labs to foster innovation, Deeptech Fund of Funds and organising of the CoE in AI for Training will create a scientific and progressive motion in direction of constructing future-ready expertise wanted for an AI financial system. These is not going to solely harness the ability of rising applied sciences to unlock innovation but additionally drive sustainable development for the nation,” mentioned Ajay Vij, Senior Nation Managing Director, Accenture in India.

AI growth requires vital funding in vitality era and quantum computing, that are additionally fields during which the federal government is providing help to companies.

“India’s Union Finances lays a powerful basis for a tech-driven future, emphasizing research-led development, digital innovation, and workforce growth—key to a globally aggressive financial system. Moreover, the finances has emphasised on the nationwide framework for World Functionality Facilities (GCCs) in Tier-2 cities presents an enormous alternative to the know-how sector strengthening India’s place as a worldwide know-how hub. Moreover, the Deep tech Fund of Funds and 10,000 PM Analysis Fellowships will drive developments in AI, semiconductors, quantum computing, and clear vitality—fostering high-impact startups and self-reliance in essential applied sciences,” mentioned Sumeet Mathur, Senior Vice President and Managing Director, ServiceNow India Know-how and Enterprise Middle.

Nevertheless, there was some disappointment as the present cryptocurrency laws and tax guidelines weren’t revised or considerably relaxed in any approach. Many Indian traders really feel burdened by the excessive tax on their crypto positive factors in addition to the TDS for crypto transactions. Different traders need extra help from the authorities in case of crypto scams and hacks.

“We had been hopeful that the federal government would take steps to rationalize the tax construction on VDAs, however sadly, that has not materialized. Nevertheless, the inclusion of VDA governance within the Finance Invoice is a constructive step, bringing in additional regulatory readability, reflecting the rising adoption of digital belongings and acknowledging the influence they’re making on the financial system. We’re nonetheless studying the effective print to know the broader implications,” mentioned Ashish Singhal, co-founder of CoinSwitch and Lemonn.