Sunil Sharma, managing director – sales, Sophos India & SAARC, said,  “The Government’s Union Budget 2021 is built on the foundation of new technologies such as Data Analytics, Artificial Intelligence (AI), and Machine Learning (ML) which will empower businesses with econsultation, escrutiny, and compliance management. This is surely going to enhance enterprise cybersecurity as AI has immense potential to bring in scalable and effective defenses against sophisticated attacks like ransomware. That said, this increased penetration of digital technologies brings with it additional cyber risks that one should be vary of. As per our recent survey, with 100% Indian businesses being concerned about their current level of cloud security, there is a need for initiatives that promote the development of cybersecurity skillsets. Additionally, this reskilling process should also take care of security of cloud environments which are the backbone of the accelerated digital transformation that India is witnessing due to the pandemic. While we welcome the Government’s proposed steps in strengthening MSMEs that provide employment to millions of people, we need more impetus on building skilled cybersecurity professionals in the country. The Government’s allocation of Rs. 3,000 crore towards skill development that will help reskill India’s youth and boost the overall economy, is a step in the right direction.”

Dhruvil Sanghvi, Chief Executive Officer, LogiNext said, “We welcome the incentives proposed by Honourable Finance Minister Ms. Nirmala Sitharaman. Strengthening global and national supply chains is of paramount importance for economic growth. The proposals to set up freight corridors across the country, as well as the proposal for a future ready rail system, along with development of national highways will bridge the gaps that currently exist, bringing in better connectivity between production and consumption markets. Furthermore, the push towards digitisation along with proposals of the one year tax holiday for startups and extending cap gains tax exemption for investment into start-ups shows the intent towards making it easier to do business in India and push forward on the technology wave.”

Gaurang Sinha, Director of Go-to-Market Strategy at Flock said, “We welcome the Finance Minister’s announcement to introduce the scheme allowing 1-person company(s) for start-ups and innovators to be exempted from paid-up capitals and turnover norms, in the Union Budget today. This will enable India to develop new technologies and boost employment like never before. Additionally, the government’s move towards boosting emerging technologies such as the internet of things (IoT), machine learning (ML), artificial intelligence (AI) and data analytics, will accelerate the growth of our digital economy. Further, the adoption of video conferencing for various tasks by the Government will encourage the use and demand for professional communication and collaboration platforms. We believe that with all of these measures, this new decade looks great for the Indian start-up ecosystem. “

Mr. Niraj Hutheesing, Founder & Managing Director, Cygnet Infotech said “We welcome the measures announced by the government of India in the Union Budget 2021. Significant capital expenditure in infrastructure and health care sectors will be a big asset for India. Promotion of digitization at large, and digital transactions particularly, is another positive aspect of the budget. There has been political will to take a big deficit for the next year. Simplifying the tax regime is another important aspect of this Budget. To ease compliance, the Finance Minister has increased the tax audit limit from ₹5 crore to ₹10 crores for the companies that conduct most of their business through digital modes. Additionally, the government is also planning to take steps to reduce inverted duty structures in GST and has proposed to review over 400 old exemptions in indirect taxes and will begin extensive consultation from October 2021. The budget also provided impetus on one of the most hard-pressing issues, namely tax evasion cases. The use of digital technologies such as automation solutions and data analytics tools can help in removing anomalies in the GST tax infrastructure and make it transparent to a great extent. All the measures announced today will further enable companies such as Cygnet Infotech to develop technology solutions for businesses to help them adhere to the taxation norms”