Union Budget 2025: Focus on Innovation and Tech Growth
By – Mr. Warren Harris, CEO & MD, Tata Technologies
“As we approach the Union Budget 2025, the technology and engineering sector is looking forward to measures that can propel India into its next phase of economic and industrial growth. To achieve the ambitious goals outlined in India’s roadmap for a $5 trillion economy, the budget should prioritize innovation-driven policies, investments in emerging technologies, and the development of products in India—for India and the world.
Key growth drivers such as smart manufacturing, AI, digital transformation, and software-defined vehicles (SDVs) require strong government backing through incentives for R&D, skill development, and infrastructure enhancement. We recommend increased allocation toward upskilling initiatives aligned with Industry 4.0, creating a future-ready workforce capable of excelling in advanced technologies like AI, IoT, and cybersecurity. India’s focus on sustainability and green mobility can benefit from policies encouraging the adoption and manufacturing of electric vehicles (EVs) and clean energy solutions. Streamlined GST norms and enhanced PLI schemes for EV components, high-tech manufacturing, and software services would catalyze growth. The budget can also emphasize fostering global competitiveness by introducing fiscal incentives for exports of engineering and technology solutions, strengthening India’s role as an innovation hub. Moreover, programs like Make-in-India and Engineer-in-India can attract significant foreign investment and foster self-reliance.
At Tata Technologies, we believe that a collaborative effort between industry and government is pivotal for achieving self-reliance, sustainable growth, and technological excellence. We are optimistic about the Union Budget 2025 and its potential to empower industries with the tools to lead the global technology landscape.”
