Industry leaders respond to Union Finance Minister Nirmala Sitharaman’s presentation of the interim Union Budget 2024 India. Here are their reactions from the leading engineering software vendors.
Deepak NG, Managing Director, Dassault Systemes India
Technology
“We, at Dassault Systemes strongly resonate with the Hon’ble PM Shri Narendra Modi’s clarion call of Jai Jawan, Jai Kisan, Jai Vigyan and Jai Anusandhan. Innovation, indeed is the foundation of development.
The corpus of Rupees one lakh crore for the tech-savvy youth, will have a far-reaching impact and provide a much-needed impetus to research and development of new age technologies, and help India emerge as a global leader in the field. The government’s commitment to fostering innovation and entrepreneurship is very encouraging and will go a long way in creating a thriving ecosystem for technology startups in the country.
We at Dassault Systemes India look forward to supporting this initiative of the Government and contributing to the innovation endeavors of the youth of this country.”
Infrastructure
“It is very encouraging to see the continued focus of the Government of India, on accelerating, evolving and scaling up infrastructure development in the country. Considering the rapid rise of India as a global powerhouse, a robust and advanced infrastructure is mission-critical for both, the short-term and long-term goals of the country.
The increase in capital expenditure outlay by 11.1 percent will provide a significant impetus to the already strong momentum of economic growth in the country. The addition of the three major railway corridor programs will further boost the impact of PM Gati Shakti mission, and establish an integrated infrastructure ecosystem to reduce logistics cost, and improve connectivity and efficiency. The continued focus on the expansion of public infrastructure like Airports, Metro Rail, NaMo Bharat, and Electric Vehicles, will ensure that the urban transformation of the country gets fast-tracked.
We look forward to collaborating with the Government to support key public sector projects with our virtual twin technology. Application of this technology can not only help in accelerating the completion of the projects but also reduce overall cost and improve planning to lower the carbon footprint.”
– Deepak NG, Managing Director, Dassault Systemes India
Sridhar Dharmarajan, the EVP and MD India, Hexagon MI
“India’s 2024 budget announcement underscores a pivotal shift towards a digital and inclusive economy, focusing on technological advancements, investments on R&D, infrastructure building and emphasis of women & skilled workforce in nation building. This strategic direction is not just critical for a self-reliant nation but essential for continuous and sustainable growth in achieving the ambitious $8 trillion economy status in 2030. At Hexagon, we resonate with this vision, recognizing the immense potential in fostering innovation, digital autonomy & increasing sustainable footprints and our commitment to these principles is unwavering, as we align our efforts with India’s vision of 3rd largest economy, contributing to a future where technology, humanity and inclusivity drive progress and prosperity, together.”
– Sridhar Dharmarajan, EVP & MD India, Hexagon MI
