Anirudh A. Damani, Managing Partner, Artha Venture Fund
“The renewal of the ₹10,000 crore commitment to the Fund of Funds for AIFs is a significant step forward for the Indian startup and investment ecosystem. The initial ₹10,000 crore commitment catalyzed ₹91,000 crore in investments, and I fully expect this fresh infusion to attract an additional ₹1 lakh to ₹1.5 lakh crore in capital. This initiative will provide much-needed growth capital to early-stage startups, further strengthening India’s position as a global innovation hub. We are supremely excited about this development and look forward to actively participating in this next wave of investment momentum.”
“The announcement of a ₹20,000 crore investment to drive private sector-led research, development, and innovation is a game-changer for India’s deeptech ecosystem. Finance Minister Nirmala Sitharaman’s focus on fostering cutting-edge startups through a potential Deep Tech Fund is a step in the right direction. Given the capital-intensive and long-gestation nature of deeptech ventures, we hope this fund is structured as a Fund of Funds (FoF), allowing experienced deep tech-focused fund managers to deploy capital effectively. The initial ₹10,000 crore FFS commitment mobilized over ₹91,000 crore in startup funding—this deeptech initiative could catalyze ₹1-1.5 lakh crore in new investments into India’s most transformative sectors, from space tech to AI and advanced manufacturing. India’s deeptech boom is just getting started, and with the right funding mechanisms in place, we are poised to create globally competitive deeptech giants.The renewal of the ₹10,000 crore commitment to the Fund of Funds for AIFs is a significant step forward for the Indian startup and investment ecosystem. The initial ₹10,000 crore commitment catalyzed ₹91,000 crore in investments, and I fully expect this fresh infusion to attract an additional ₹1 lakh to ₹1.5 lakh crore in capital. This initiative will provide much-needed growth capital to early-stage startups, further strengthening India’s position as a global innovation hub. We are supremely excited about this development and look forward to actively participating in this next wave of investment momentum.”Vivek Jalan, Partner, Tax Connect AdvisoryThe Union Budget is for Manufacturing, Middle Class and MSMEs. As expected income tax TDS/ TCS provisions have been revamped and rationalised. Customs duty on capital goods and raw material imports have been rationalised to promote manufacturing, especially on lithium Ion batteries. MSMEs have also been a special focus in this budget. The Biggest big bang change of course is the exemption of Income Tax for middle class with income upto Rs 12 Lakhs.
Pavan Choudary, Chairman, Medical Technology Association of India (MTaI)
The government has earlier taken a target of exporting 300,000 health care workers per annum. Its initiative to establish five large skill development projects – assuming Healthcare skilling will be a good part of it – seems a coherent step towards this objective. Additionally, the government’s initiative to simplify visa procedures for patients seeking treatment in India will further enhance the country’s medical tourism sector. Together this cross border flow of patients and healers will expand the market and create more deft workers.