India's Technological Leap: Union Budget Fuels GCCs and AI Excellence

The Union Budget highlights significant financial investment and national frameworks to bolster India's technological landscape. This includes Rs 500 crore for a Centre of Excellence in AI for education, a new Rs 10,000 crore Fund of Funds for startups, and a framework for Global Capability Centres in Tier-2 cities.

The Union Budget put a spotlight on new and emerging technologies as Finance Minister Nirmala Sitharaman unveiled strategic moves to boost India's digital landscape. A notable announcement was the Rs 500-crore Centre of Excellence in AI focused on education.

To further galvanize growth for startups, a fresh Rs 10,000 crore is earmarked under an expanded Fund of Funds. This investment aims to inject velocity into a burgeoning ecosystem, providing agile teams with much-needed capital.

Additionally, a national framework will guide states in fostering Global Capability Centres in Tier-2 cities, enhancing infrastructure, talent availability, and strategic industry collaboration, ensuring India's competitive edge in digital and business services.

(With inputs from agencies.)