As the Union Budget 2025-2026 is unveiled, leaders from the technology sector are sharing their insights and reactions to the government’s initiatives aimed at fostering innovation, self-reliance, and growth in various tech industries. With a focus on enhancing local manufacturing, expanding educational opportunities, and integrating advanced technologies, industry executives express optimism about the potential impact of these measures on India’s position in the global tech landscape.
Mr Rajeev Singh, Managing Director, BenQ India and South Asia – Optimism in AI and Made-in-India
“We are encouraged by the government’s announcement of the National Manufacturing Mission, which represents a significant step towards enhancing the ‘Make in India’ initiative. This mission’s focus on supporting small, medium, and large industries, along with its emphasis on clean technology manufacturing, aligns perfectly with our commitment to sustainability and innovation.
Further, the decision to increase the basic customs duty on interactive flat panel displays is a crucial step in addressing the inverted duty structure. This move will foster local manufacturing and support the growing demand for advanced educational technologies, ultimately enhancing innovation in learning environments.
Moreover, the announcement of five National Centers of Excellence for Skilling as well as the setup of 50,000 adult tinkering labs in government schools presents a significant opportunity to integrate advanced technologies, such as interactive flat panel displays (IFP), into the educational framework. These centers will not only equip our youth with essential skills required for manufacturing under the ‘Make in India’ initiative but also leverage global expertise to design curricula that meet industry needs.
The establishment of a Centre of Excellence for AI in education with a ₹500 crore investment is another vital step towards preparing our youth for future challenges. By fostering skills in AI and related technologies, we can enhance employability and drive innovation across various sectors.
Thus, we believe that with the right policy support and a robust ecosystem for electronic components, India can establish itself as a global hub for advanced technologies. We look forward to collaborating with the government and industry stakeholders to capitalize on these opportunities and contribute to India’s digital transformation.”
Mr. Ravi Kunwar, VP and CEO, HMD India and APAC: Boost for electronic manufacturing
“The Union Budget 2025-26 presents encouraging prospects for the technology and digital infrastructure sector. We applaud the Indian Government for reinforcing India’s vision for self-reliance and innovation-driven growth in electronics manufacturing. Reducing BCD to 5% on open cell components and including 28 additional capital goods for mobile battery fabrication will strengthen local manufacturing and further generate employment in the sector. The formation of the National Manufacturing Mission and investment in skilling initiatives will contribute to India’s global competitiveness and facilitate the commitment to climate-friendly development. These measures, coupled with tax reforms and incentives, create a strong foundation for sustainable growth in India’s electronics ecosystem.”
Gerald Jaideep, CEO, Medvarsity: Budget 2025 – Paving the Way for Innovation and Growth in India’s Healthcare and Education Sectors
“The recent budget underscores a transformative vision for India’s healthcare and education ecosystems. The establishment of Centers of Excellence in AI for education, coupled with the aggressive expansion of medical seats, reflects a dual commitment to innovation and capacity-building.
For the healthcare edtech sector, this budget opens avenues to collaborate with institutions in curriculum design, AI-driven training modules, and competency-based certifications. The future lies in synergizing policy ambition with industry expertise to build a workforce that is not only larger but also future-ready, adaptive, and globally competitive.
India has been aggressively developing its healthcare facilities, with India’s doctor-patient ratio (1:834) surpassing the WHO’s 1:1,000 benchmark, but the story changes when we compare the ratio from urban to rural. This proposed addition of 75,000 medical seats over five years is a critical step toward bridging India’s doctor-patient ratio in rural regions, and its success hinges on ensuring faculty development, infrastructure readiness, and equitable distribution of opportunities.
Similarly. the government’s plan to set up 200 daycare cancer centers will boost healthcare accessibility and create a demand for specialized oncology training. Medvarsity will play a crucial role in equipping healthcare professionals with advanced oncology skills to ensure high-quality cancer care.
The Budget 2025’s emphasis on promoting medical tourism and the ‘Heal in India’ initiative presents immense opportunities for India’s healthcare sector. With a focus on enhancing healthcare infrastructure and simplifying visa norms, India is set to become a global hub for medical treatments. Medvarsity is well-positioned to support this growth by providing healthcare professionals with specialized training and certifications that meet international standards, ensuring high-quality care for medical tourists.”
Dr. Priyanka Sharma, Head of MONAKA Software R&D Unit, Fujitsu Research of India
“Today’s Union Budget 2025, focused on a ‘Viksit Bharat,’ presents a powerful vision for India’s IT industry and its future workforce. I am particularly excited by the emphasis on skilling and upskilling initiatives. The establishment of five National Centers of Excellence, leveraging global partnerships, will directly address the growing demand for skilled professionals in areas crucial to building a tech-for-good India. The expansion of IITs and the new AI Center of Excellence for education will further strengthen this talent pipeline, ensuring India remains at the forefront of technological innovation. The budget’s commitment to a Deep Tech Fund of Funds and the PM Research Fellowship scheme is equally significant. These initiatives will provide critical support for next-generation startups and research institutions, fostering a vibrant ecosystem of innovation and attracting top talent. The focus on supporting first-time entrepreneurs, particularly women is commendable and will contribute to a more inclusive and equitable growth tory. These investments in education, research, and entrepreneurship will not only benefit the IT sector but will drive India’s overall economic transformation, creating a more prosperous and inclusive future for all. This budget signals a clear commitment to building a skilled and empowered workforce, ready to seize the opportunities of the future.”
CP Khandelwal, CEO, PR Innovation, Brand Custodian of Amazfit India : Accelerating tech self-reliance by boosting display manufacturing and lithium-ion battery production
“The Budget 2025’s tech-forward policies signal India’s ambition to dominate the global electronics value chain. Eliminating BCD on open cell components for displays isn’t just a tariff tweak—it’s a strategic unlock. By making India a cost-competitive hub for advanced display manufacturing, we’re poised to cut reliance on imports for LCD/LED panels, which currently account for 80% of the $7 billion display market. This will catalyze local R&D in next-gen technologies like OLED and MicroLED, critical for smartphones, wearables, and smart TVs.
Equally transformative is the lithium-ion battery push. Adding 28 capital goods for mobile batteries will fast-track domestic cell manufacturing, addressing a critical gap where India imports 90% of its lithium-ion needs. For the wearables and smartphone ecosystem, this means shorter supply chains, faster innovation cycles, and sustainable cost efficiencies. India’s future will be driven by innovation, self-reliance, and a bold vision to lead the global tech revolution.”
Srividya Kannan, CEO and Founder, Avaali Solutions: Enhanced investment and focus on India’s growth potential
“A key decision by the government to drive the digital economy is the formation of a national framework for promoting Global Capability Centers (GCCs) in emerging Tier-II cities. This move is set to boost employment growth and position India as a hub for high-value global services.
The government’s plan to establish 50,000 Atal Tinkering Labs is a visionary step toward fostering a culture of innovation and entrepreneurship across the country. By integrating interventions at schools, universities, research institutions, MSMEs, and industries, this initiative will create a robust ecosystem for technological advancement. It is encouraging to see the government’s strategic focus on the digital economy and its commitment to building a future-ready workforce.
Investment in AI Centers of Excellence (CoEs) in education is a positive step toward the adoption of emerging technologies in key industries. Additionally, the expansion of infrastructure in the five IITs established after 2014, including increasing capacity for 6,500 more students and enhancing hostel and other facilities at IIT Patna, is a significant move toward strengthening India’s tech workforce.
It is also promising to see the government extending support to the domestic equipment industry under the Make-in-India and National Manufacturing Mission. This initiative will empower local businesses and strengthen India’s position as a leader in next-generation manufacturing and technology. Moreover, it will create new opportunities for global electronic equipment companies to establish their captive centers in India.
Also it is extremely heartening to see increase in the limits for classification of MSME and additional credit offerings to them. This will immensely help boost the Indian entrepreneurial ecosystem.”
Ujjwal Sarin, Founder – Nu Republic: Strengthening Make in India
“The Union Budget’s National Manufacturing Mission is a pivotal step in strengthening ‘Make in India’ through policy support and clean tech innovation. With a strong focus on domestic manufacturing of solar PV cells, EV batteries, and high-voltage equipment, India is set to lead in sustainable technology.
Addressing the inverted duty structure, the increase in customs duty on interactive flat panel displays will boost local production and investment in advanced display technologies. Additionally, the establishment of five National Centers of Excellence for Skilling and a ₹500 crore AI Centre of Excellence in education will bridge the industry-academia gap, fostering a future-ready workforce.
These initiatives reinforce India’s path to becoming a global leader in advanced manufacturing and digital innovation. We welcome these efforts and look forward to collaborating with stakeholders to drive technological self-reliance and growth.”
