Budget 2025: Tata Technologies calls for focus on upskilling and innovation

Finance minister Nirmala Sitharaman will table the Union Budget 2025 on February 1. Ahead of the budget, Tata Technologies emphasized the need for increased funding for upskilling initiatives aligned with Industry 4.0 to prepare a future-ready workforce. In a statement, CEO and MD Warren Harris highlighted that achieving India's $5 trillion economy vision requires innovation-driven policies, investments in emerging technologies, and the development of products “in India, for India and the world.”

Harris also stressed the importance of key growth drivers like smart manufacturing, AI, digital transformation, and software-defined vehicles (SDVs), urging government support through incentives for R&D, skill development, and infrastructure enhancement.

“We recommend increased allocation toward upskilling initiatives aligned with Industry 4.0, creating a future-ready workforce capable of excelling in advanced technologies like AI, IoT, and cybersecurity,” Harris said.

He also pointed out the role of green mobility and sustainability in India’s progress, suggesting policies to boost EV adoption and clean energy solutions. Streamlined GST norms and expanded PLI schemes for EV components, high-tech manufacturing, and software services could further accelerate growth.

"The budget can also emphasise fostering global competitiveness by introducing fiscal incentives for exports of engineering and technology solutions, strengthening India's role as an innovation hub. Moreover, programs like Make-in-India and Engineer-in-India can attract significant foreign investment and foster self-reliance," he stated.

Harris proposed fiscal incentives for exporting engineering and technology solutions to strengthen India’s position as an innovation hub. Additionally, initiatives like Make-in-India and Engineer-in-India could attract foreign investments and foster self-reliance.

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