Pre-Budget Quotes – From Tech, Real Estate, Retail Tech and Tech Startups | APN News

Technology

Rajiv Bhalla, MD, Barco India – The Indian government has a strong focus on growth and development, and this trend has continued even during the pandemic. Given the hybrid normality, we at Barco are creating solutions to promote seamless remote working and support the economy. We look forward to a budget that lays out a roadmap for greater economic recovery, with greater infrastructure spending and stronger incentives for business investment spending. We believe the country is still on track to achieve the vision of $5 trillion by 2025 and expect a host of reforms aimed at strengthening the culture of start-ups and entrepreneurship while increasing healthcare and related sectors. Technology, manufacturing and R&D are India’s future and we look forward to initiatives aimed at making India a global superpower at these frontiers.

Retail Technology

Prashant Lohia, CEO and Founder, Ginesys – The The ongoing pandemic has proven to be a catalyst for the digitization campaign, with service providers stepping in to bridge the gap between rural and urban landscapes. The government is keen on a digital India, and we expect the Union Budget 2023 to represent a bigger and more sustained push towards the same, especially when it comes to digital payments and retail technology. detail. We expect the Union budget to bring more reforms for domestic manufacturers and retail brands as this would boost the Make in India and AatmaNirbhar Bharat initiatives while providing support and strengthening the local landscape of retail. We also want more clarity on e-commerce guidelines and hope the government will promote the sector in the next budget. In addition, we look forward to a well-calibrated reduction in income tax brackets, as this will help taxpayers save money, and the money saved can further fuel consumption and economic growth, thereby contributing to revive the economy as a whole. We also hope that the next budget will focus on growth and promote spending by removing the already deferred GST on textiles and clothing.

Technological start

Mr. Amit Relan, director and co-founder, mFilterIt – “India’s startup ecosystem has already become the third largest in the global market, highlighting the massive growth of the sector in recent years. Going forward, the ecosystem requires a more targeted approach in terms of access to capital, allocating more funds from the government, policy reforms to make it easier to do business, and creating a more supportive ecosystem given the impact of the pandemic. India’s ad tech industry is expected to surpass $10 billion in revenue by 2030, making it one of the top contributors in terms of growth, job creation and export of services. global and Indian market, we can observe an increase in advertising spending on digital platforms, which is expected to reach 60% of total advertising spending in 2022. Even the Indian government’s overall spending on digital advertising rique – including national and state governments – have already exceeded 3000 crores per year, which involves awareness raising, promotion and advertisements. At the same time, today, the techniques and tricks used by bad actors in the value chain pose a greater threat to the reputation of advertisers through brand safety issues and brand infringement, resulting in a waste of around 7-8% of overall digital spend. With this in mind, one of our main recommendations for the next budget would be that the government subject digital advertising expenditure to an audit in the same way that it subjects other expenditure, which goes beyond determining the compliance with procedural rules and includes verification of results as well. The government, with a vision of a $1 trillion digital economy and the massive shift to digitization in recent years, should also pay attention to the ad tech industry and take financial measures to help the existing ecosystem. of India to progress, which will not only make India Atmanirbhar in the field but also globally. Moreover, launching unique production-related initiatives for the sector is crucial for India to position itself as a global leader.

Real estate

Mr. Prashant Solomon, MD, Chintels India and Hon. Treasurer of CREDAI NCR – “2021 has been a ‘year of recovery’ for Indian real estate. The upcoming budget will play a pivotal role in realizing the growth trajectory of real estate and the economy in general. In order to improve the overall health sector, strengthen financial flows and reduce delays, a one-stop clearance system is needed Allowing REITs to invest in residential projects, relaxations of provisions for investing in REITs can also be a key amendment that government needs to take into consideration as it will allow developers and investors to access investment opportunities without spending a lot. housing, GST exemption for properties under construction, increased FDI inflows, expansion of SWAMIH crisis fund s supported by the government, the introduction of new mechanisms to facilitate the acquisition of funds for real estate projects and above all to achieve industry status. This will help eliminate unnecessary processes, increase transparency, and make it easier to get approvals. Encouraging both the rental and affordable housing sectors, along with incentivizing private investment in the affordable housing sector, can also be a key impetus that the government can induce to ensure the growth of the Indian real estate sector. . For India to achieve the vision of a $5 trillion economy, the government must provide the necessary boost to this labour-intensive sector as it supports employment as well as 200 industries auxiliaries, including SMEs and MSMEs”. Through Prashant Solomon, MD, Chintels India and the Hon. Treasurer of CREDAI NCR