Union Budget 2022: Telcom sector expects govt to enable policy framework in 5G, digital media

New Delhi: As Finance Minister Nirmala Sitharaman is all set to present the Union Budget on February 1, experts have urged the government to enable policy framework in 5G, digital media. They have also sought for a separate budget head for building National Champions to augment GDP growth.

Hari Om Rai - Chairman & Managing, Director, Lava International Limited said, "To make a separate budget head for building National Champions – To acquire strategic skills and become global Indian champions have a remarkable potential to create national wealth and become beacons of economic progress for India's long term technological and financial independence. It is highly imperative to develop and bolster Indian champions to bring strategic skills & technology and augment GDP, employment, and foreign exchange."

"No further increase in component duties in this budget as it impacts our global competitiveness. We are looking at creating economies of scale to create global competitiveness, value addition will follow," he added.

Meanwhile, Vikash Jain, Managing Director & Senior Partner said, "India is at a point of inflexion in leveraging tech. The last two years has demonstrated the resilience of the sector. While the services led export story continues to be very strong, the tech industry needs to now to deal with the emerging challenges with new operating, and emerging demands of talent and skills. On the other hand, we have the massive opportunity to address the informal economy, the self-employed, the SMBs and the underserved ‘Bharat’ through tech and platforms which can create a massive virtuous cycle that can drive real transformation. In addition, 5G in telco, digital media and manufacturing are other big themes that are playing out which will all require support and enabling policy framework to ensure this sector continues to play a pivotal role in India’s transformation story”, says Vikash Jain, Managing Director and Senior Partner, Boston consulting group."