India’s Finance Minister Nirmala Sitharaman presented the much-anticipated Union Budget 2025 for the fiscal year 2025-2026. This is the first full budget of Modi 3.0 after Narendra Modi took charge as Prime Minister in July 2024. Here are the budget quotes from Tech and Industry leaders.
Happiest Minds Technologies
“The Union Budget presents a forward-looking vision that aligns with India’s goal of becoming a global economic leader. The focus on strengthening digital infrastructure, particularly through continued investments in technology, sets the stage for accelerated growth in sectors such as AI, innovation, and deep tech. The emphasis on skilling initiatives, including the enhancement of Industrial Training Institutes, will ensure a future-ready workforce capable of meeting the demands of Industry 4.0.
The 2025 budget strengthens India’s global tech leadership by allocating resources to research, including 10,000 new fellowships, which will advance AI, ML, and renewable energy. Additionally, the establishment of Centres of Excellence in AI and the launch of a new Fund of Funds for startups further bolster India’s position as a hub for innovation and entrepreneurship. To ease of doing business, the government’s efforts to ensure that regulations keep up with technological innovations and global policy developments is commendable. The creation of 50,000 Atal Tinkering Labs over the next five years will provide young minds with hands-on experience and the tools to turn their innovative ideas into reality, contributing to the country’s growing tech ecosystem and fostering a culture of self-driven innovation. Last but not the least, simplification of tax procedures, reducing the compliance burden and finally reduction of taxes for the middle class and working population is a huge morale boaster while putting money in the hands of those who continue to spur consumption and growth.”
Venkatraman Narayanan, MD & CFO, Happiest Minds Technologies
Magellanic Cloud
The Union Budget paves the way for holistic and fast-paced rise of the country as an economic super house. Pertaining to technology industry, the provisions and initiatives announced to setting up of Centre of Excellence for AI as well as special fund focused on deep tech, will further place India at the global centre stage of revolution. With reference to focus on employment and skilling for the youth, the Union Budget provides the right impetus to gain industry-relevant skillsets and opportunities. Furthermore, the ecosystem also stands to benefit out of the opportunities arising for Industry 4.0 inclination for domestic manufacturing push with IoT and smart tech capabilities expected to gain prominence. Overall, the five engines of growth are well thought-off and the onus is on the industry to play its part.
Joseph Sudheer Thumma, Global Chief Executive Officer & Managing Director, Magellanic Cloud
Sophos
“We believe the emphasis placed by the Union Budget 2025-26 on research fellowships and skilling will be a game-changer for India’s cybersecurity landscape. Through the 10,000 PM Research Fellowships in IITs and IIScs, the Government is fostering an ecosystem where cybersecurity skilling will be accessible to a wider talent pool.
The establishment of National Centres of Excellence for Skilling, combined with education in regional languages, will ensure that enterprises of all sizes – especially MSMEs – can build robust cyber defenses without being held back by a talent shortage.
We are particularly hopeful seeing the commitment to ease of doing business through regulatory reforms allowing enterprises to scale faster, innovate freely, all the while bolstering their operations with cutting-edge security solutions. This year’s Union Budget lays the foundation for a cyber-resilient India where businesses can thrive securely in an increasingly digital world, powdered by workforce readiness and regulatory agility.”
Sunil Sharma, Vice President – Sales, Sophos India and SAARC
Scandron
With agriculture set to play a key role as part of the Dhan Dhanya Krishi Yogana and government laying special emphasis on the role of technology in achieving the objectives, new-age and emerging farming value chain elements such as drones have opportunity for a higher order of contribution to enhance agri-productivity as well as storage. Additionally, though not explicitly laid out in the Union Budget, however the farming community also have new livelihood avenues in form of farm technicians that can own the use of drones in the productivity value chain.
Overall, the Union Budget 2025 reinforces India’s commitment to “Make in India” and “Viksit Bharat,” with a strong push for manufacturing and MSME growth. With over 1 crore MSMEs driving 36% of manufacturing and 45% of exports, enhanced investment and turnover limits will empower them with scale, technology, and capital access. The National Manufacturing Mission will provide policy support and execution roadmaps, fostering an ecosystem where companies like Scandron can thrive.
Arjun Naik, Founder & CEO, Scandron
WOL3D
“The Union Budget 2025 marks a significant step towards strengthening India’s MSME sector as a lever of growth engine for the next five years. The government’s commitment to initiatives like the Atal Innovation Mission (AIM) and the National Manufacturing Mission places the country to further strengthen its manufacturing capacities and capabilities including on new and emerging domains such as 3D printing .
With over 50,000 Atal Tinkering Labs planned across government schools, we see this as a revolutionary chance to provide young minds with hands-on experience in innovative technology such as 3D printing, developing an innovative culture from a young age. Additionally, focusing on MSMEs as important drivers of economic growth will reinforce India’s status as a global manufacturing hub, enabling ease of doing business and allowing for broader adoption of digital fabrication and additive manufacturing .
We also foresee new opportunities for micro-entrepreneurship enabled by 3D printing value chain, with the availability of funds upto five lakhs for first-time women entrepreneurs from the SC/ST communities.”
Rahul Chandalia, Co-Founder, WOL3D
Fulcrum Digital
“The 2025 budget reaffirms India’s commitment to fostering an innovation-driven economy. By prioritizing ease of doing business, the government is ensuring agile policies that foster a thriving business ecosystem and scalable technology.
This emphasis on modernization extends to India’s talent ecosystem, where initiatives like the Atal Innovation Mission and the PM Research Fellowship for technological research in IITs and IISc, are designed to foster meaningful industry tie-ups. This creates an ecosystem where companies and young researchers work together to develop relevant, future-ready technologies.
Additionally, the establishment of a Center of Excellence in AI for Education with an outlay of ₹500 crores will enable young minds to gain deeper insights into AI applications. By integrating AI learning at an early stage, India is equipping its workforce with the skills necessary to drive the next wave of digital transformation.
At Fulcrum Digital, we believe these initiatives will unlock new possibilities for India’s tech landscape. With a robust regulatory framework, industry-driven research, and AI-led skilling, India is positioning itself as a global leader in innovation, and we are committed to being part of this journey.”
Sachin Panicker, Chief AI Officer, Fulcrum Digital
Syrma SGS Technology
“The Union Budget 2025-26 presents a balanced approach to strengthening India’s manufacturing and electronics sector. The National Manufacturing Mission announced, along with policy support for clean technology manufacturing, will further solidify India’s position as a global manufacturing hub. The government’s focus on domestic value addition, with a focus on manufacturing of EV batteries, solar PV cells, and electronics, is a step towards enhancing self-reliance and sustainability.
The emphasis on skill development through initiatives such as establishing National Centers of Excellence aligns with the need for a highly skilled workforce in Industry 4.0. This, along with targeted policies for MSME growth and global supply chain integration, will create new opportunities for businesses like ours.
Additionally, the push for R&D and innovation with dedicated financial support will help drive advancements in emerging technologies. The government’s continued commitment to improving ease of doing business through a modern, trust-based regulatory framework is a welcome move. Streamlining approvals, updating outdated regulations, and reducing compliance burdens will enable faster innovation and greater competitiveness for industries like electronics manufacturing.
While certain duty revisions will require careful industry evaluation, the overall budget signals a strong commitment to long-term industrial growth. We look forward to leveraging these opportunities to expand our capabilities and contribute to India’s growing role in global electronics manufacturing.”
JS Gujral, Managing Director, Syrma SGS Technology
