New and emerging technologies in focus in the union budget, as finance minister nirmala sitharaman announced a national framework for global capability (GCCS), RS 500-CRESTRELEND Cation, and Said a Deep Tech 'Fund of Funds 'Will be explred to catalyse the next generation startups.
A new fund of funds, with expanded scope and a fresh contribution of additional Rs 10,000 Crore is also on Anvil.
A National Framework will be formulated as guidance to states for promoting global capability centers in emerging tier-2 rights. This will suggest measures for enhancing availability of Talent and Infrastructure, Building Bylaw Reforms, and Machanisms for Collaboration with Industry.
“I Had Announted Three Centers of Excellence in Artificial Intelligence for Agriculture, HEALTH, And Sustainable Cities in 2023. Now a center of excellence in artificial intelligence for health A Total Outlay of Rs 500 Crore, “Sitharaman said.
Startups have a reason for cheer also as a new 'funds of funds' with expanded scope and a fresh contribution of additional Rs 10,000 Crore will be set up.
“The Alternate Investment Funds (AIFS) for Startups Have Received Commitments of More Than RS 91,000 Crore. These are supported by the funds of funds DS, with expanded scope And a fresh contribution of another Rs 10,000 Crore will be set up, “She Said.
Gaja Capital Managing Partner Gopal Jain Said the Introduction of a New Funds for Aifs, and a Center of Excellence for Ai in Education are all “promising steps” promising steps “toward fostering a knowage-diversity.
To improvement to capital, The Credit Guarantee Cover Arat.
Bruce Keith, Co-Founder CEO, Investorai Believes That Announcement on Deep Tech Funds, While Details Are Awaited, Needs to Be Viewed Throudy Amounts of capital when provided to agile and creative Teams.
“We expect the venture capital ecosystem to brings Velocity and Momentum Into Funding these enterprises,” Keith Said.
It is pertinent to mention here that India GCC landscape has been progressing over the past five years and the total number of such centers have presen to over 1,700 in Fy24 with Over 2,975 centers.
Jaspreet Singh, Partner and GCC Industry Leader, Grant Thornton Bharat Said That The Budget's Focus on Expanding Talent Availability and Infrastructure in Tier-2 Cities S Global Capability Center Ecosystem.
“By Unlock Access to a Wider Talent Pool, Including Professionals Who Prefer to Stay in their hometowns, this initiative will enhance workforce stability and retention. Less operations, Making Tier-2 Cities Attractive Destinations for High-Value Global Work , “Singh said.
As gccs evolve into strategic hubs for innovation and technology, the expansion will drive inclusive growth, Reduce Regional Disparities, and Position India as a Global Leader in Digital and Business Sing And noted that a well-destributed GCC Network will ensure long- Term Resilience, Scalability, and Global Competitiveness.
“The creation of the deep tech funds of funds will Empower India's Deep-Tech Entrepreneurship, and Fuel India's Global Competitiveness in the Ai Race. will increase credit guarantee coverage for Startups from Rs. 10 Crore to Rs.
“India currently has the smallest talent demand-suppply gap and is on track to achieve a skilled talent surplus by 2030. Talent pool in emerging technologies, particularly ai . The PM Research Fellowship Scheme will also support innovation by offering