5G, Blockchain Tech, R&D Pursuits Great Impetus for Doing Business

Indian industry have welcomed some of the budget initiatives saying this was a great impetus for doing business in India. The heads of Indian leading companies  have all welcomed the government's thrust on encouraging R&D pursuits in the areas of AI, machine learning, robotics, 5G and cutting edge analytics.

Kris Gopalakrishnan, Past President of CII and founder of Infosys Ltd says, “We welcome the government’s thrust on encouraging R&D pursuits in the areas of AI, machine learning, robotics and high end analytics. This move will further leapfrog the innovations driven by Indian tech companies and will place the country at the centre of global digital transformation.”  

"This initiative will not only focus on the rural economy, healthcare and infrastructure but also on digital skilling, education and jobs creation,” he said at the CII union Budget Viewing Session in Bengaluru. He adds that “further training and skilling in cyber-physical systems and the extending of broadband access to 5 crore rural citizens will help bridge the digital divide.”

Reacting to the government move to establish 5G test bed at IIT Madras. Kris said the 5G technology is being standardised globally to enable the Internet of Things (IoT) applications. This move will further help the startup ecosystem that has started getting a lot of traction.

The government will also explore the use of the blockchain technology proactively for ushering in a digital economy. However, government doesn’t consider cryptocurrencies as a legal tender, he concludes.