Overall, I believe the budget for the coming year should restore confidence, with the reforms process moving forward to stimulate the economy to a higher growth trajectory. This is vitally important at a time when the economy is slowing down not just in India but in the developed world as well. I hope this is a growth-oriented budget.
In particular, the budget should recognise IT companies developing products that make India more competitive in world markets by encouraging their growth.
My view as a technology player is that we need to somehow boost a product company investing in intellectual property (IP). That boost could create a Microsoft or Apple in India and will help create products and solutions with IP for long-term competitiveness of the Indian IT industry in global markets. There will be resultant benefits to the economy in terms of export revenues.
India has the potential and capability to emerge as the next Silicon Valley and the budget can create the highway for this possibility.
(Arun Jain is founder, chairman and CEO of Polaris Financial Technology)