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The Indian government unveiled a series of initiatives at budget aimed at bolstering tourism and supporting the technology sector.
Vishal Puri, Co-Founder of Spalba, a leading provider of venue management technology, praised the government’s steps towards enhancing connectivity and simplifying the tax regime for foreign shipping companies.
These measures are expected to significantly enhance India’s appeal as a top tourist destination and drive economic growth.
Boosting Tourism Through Improved Connectivity
The government’s initiatives to boost tourism include the development of new airports and sports facilities in Bihar, along with efforts to transform Nalanda into a major tourist center.
These infrastructure developments are designed to improve connectivity and accessibility, making it easier for tourists to explore India’s diverse cultural and historical attractions.
Vishal Puri of Spalba expressed his approval, stating, “We applaud the government’s initiatives to boost tourism through improved connectivity and a simpler tax regime for foreign shipping companies.
These steps will significantly enhance the attractiveness of India as a top tourist destination and drive economic growth.”
Supporting the Tech and SaaS Industries
While these measures are a positive step forward, Vishal Puri emphasized the importance of addressing the needs of India’s tech and Software as a Service (SaaS) industries.
He highlighted the critical role of robust intellectual property (IP) protection and innovation incentives in fostering growth and sustainability in these sectors.
“The growth and sustainability of our tech and SaaS industries depend heavily on robust IP protection and innovation incentives.
By strengthening IP frameworks, streamlining patent processes, and providing R&D incentives, the government can foster a secure environment that nurtures technological advancements.
This will prevent the outflow of valuable intellectual capital and ensure holistic growth across all sectors,” Puri added.
Mixed Reactions to the FY25 Budget
The FY25 budget has been met with a mix of praise and criticism from industry leaders.
Sibasish Mishra, Founder of Bookingjini, acknowledged the positive impact of infrastructure development on tourism but called for more direct support for startups in the hospitality tech space.
“Infrastructure development, like new airports and sports facilities in Bihar, will boost tourism, and developing Nalanda as a tourist center is a positive step. However, more direct support for startups in the hospitality tech space would have accelerated growth and innovation.
The abolition of Angel Tax simplifies investments, but additional targeted incentives for tech startups are needed.
Overall, the budget lays a solid foundation, but there’s room for more focused support to maximize industry growth,” said Mishra.
Government Initiatives from Official Sources
According to the Ministry of Tourism, the government is focused on developing tourist circuits that include historical and cultural sites, wildlife sanctuaries and adventure tourism destinations.
The ministry also highlights ongoing projects under the Swadesh Darshan Scheme, which aims to develop theme-based tourist circuits.
The Ministry of Electronics and Information Technology (MeitY) has been actively promoting policies to enhance the tech ecosystem in India.
Initiatives like the National Policy on Software Products 2019 and the National AI Strategy are designed to support innovation, R&D, and the protection of intellectual property in the tech sector.
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