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MSMEs and Technology Perspective Ahead of Union Budget 2022

In this article here are some Union Budget expectations with MSMEs' Perspective from Mr Raja Vishal Oberoi, CEO at Market Xcel and with technology's perspective with Mr Dipesh Kaura, General Manager, Kaspersky (South Asia). Stay tuned on SMEStreet to know more regarding Union Budget 2022.

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Putting across MSMEs’ perspective, Mr Raja Vishal Oberoi, CEO at Market Xcel expressed his wish list from the finance minister ahead of Union Budget 2022 and he stated,

“In 2022, with Omicron looming, the expectations from Union Budget 2022 continue to circle economic recovery, respite to MSMEs.

MSMEs are the second largest employment generators, providing jobs to around 11 crore people in India. Furthermore, they account for 48% of exports from our country. With the rising cases of Omicron and the arbitrary restrictions imposed by the various state governments, MSMEs expect financial support from the central government to revive the sector’s growth.

Reforms surrounding import substitutes promote self-reliance and boost domestic manufacturing. As 30% of GDP, MSMEs expect the government to reduce the compliance burden in all aspects, be it taxes, loans, audits, or licensing. Including green energy as part of MSMEs’ policies will also help create a sustainable economy and decrease domestic reliance on energy imports.”

Market Xcel, a global ResTech and insights brand.The firm provides customized  market research solutions to cients around various sectors and shares projections on market sentiments, comparative indications on sales trends, and reasons.

Here are some expectations for Union Budget 2022 from the perspective of IT and Technology by Dipesh Kaura, General Manager, Kaspersky (South Asia). He said:

“The IT segment – especially the software and services, witnessed a major surge in the SMB segment after the global pandemic hit the world. The demand for endpoint protection tools (basic as well as advanced) has dramatically gained momentum after more users started relying online to meet their business as well as personal requirements.

Furthermore, mature and advanced technologies in the ENT segment such as AI, ML, Anti-Apt solutions and predictive technologies like Threat Intel have made headway in many segments and are redefining the patterns as to how cyber defence is looked at more from a business perspective than ever before. While the Information technology segment in India is fast maturing, it looks towards the budget and the government for favourable guidelines and reliefs. Due to the positive and progressive steps adopted by the government towards creating a more adaptable and functional digital economy, we very clearly see a surge in the services segment, wherein critical and strategic cyber defence services like Incident response, breach assessment, etc would become the need of the hour for the businesses across the length and breadth of the country.

We look forward to the FM to announce favourable policies and guidelines that encourage the attention and adoption of businesses to pro-actively invest in cyber defence mechanisms and ensure safe and secure Digital India for the years ahead.”

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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