Union Budget Boosts IT Sector with Start-up Funds, Customs Duty Reforms

Nasscom welcomed the Indian government's 2025-26 budget, highlighting a focus on entrepreneurship, innovation, customs duty rationalization, and safe harbour rules. Key initiatives include a new round of startup funds and a proposed deep-tech fund supporting tech startups. A national framework for promoting Global Capability Centres will be developed.

Nasscom, the premier IT industry body, praised the Indian government's Union Budget 2025-26 for its emphasis on fostering entrepreneurship and improving business ease. The new budget initiatives reinforce India's ambition to become a global leader.

Key measures include rationalizing basic customs duty rates, and expanding safe harbour rules, aligning with industry expectations, and simplifying compliance frameworks, especially for tech multinationals.

A notable introduction is a fund of funds scheme with a Rs 10,000 crore corpus for startups, along with exploring a deep-tech fund, both expected to propel India's startup ecosystem to new heights.

(With inputs from agencies.)