Please find below a quote on the expectations from the upcoming budget from Rajan Navani. In addition to helming affairs at JetSynthesys, Rajan is also the first National President of the recently constituted Indian Digital Gaming Society, the current Chairman of the Confederation of Indian Industry’s CII National Council on Future Businesses, and Chairman of the CII Council on India@75, amongst several other notable board positions.
Rajan Navani, VC & MD, JetSynthesys and President of Indian Digital Gaming Society (IDGS), said, “2021 was a make-or-break year across all industries when India Inc went into business recovery mode. Digital became a buzzword with multiple industries maximizing and leveraging its massive reach to stay ahead of the curve. While the pandemic extended a shot in the arm to tech-first and digitally-backed companies, there is still potential to grow the category further and for the digital economy to contribute 20% to the GDP from the current 8%. With the Union Budget coming up, we hope to see a stronger government focus on the gaming and digital transformation industry in the context of Atmanirbhar Bharat. India has the power to become a global gaming and e-sports hub creating huge employment opportunities. We expect the budget to further incentivize investments in digital technology, particularly in the startup and scale-up ecosystem of India, which has been one of the brightest sectors of last year. This would give the already growing space a much-needed turbocharge.
We would further like to see the government come up with ways on how more domestic capital can be invested in new-age sectors, therefore finding a way to normalise long-term capital gains tax for private equity of 20% and match it to the long-term capital gain for public markets which is currently at 10%.
We would like to see more investments pumped into the digital infrastructure, as digital has been one of the strongest areas coming out of the pandemic and needs to be further strengthened. Looking forward to the budget this year and hoping for the best.”
