Budget 2023: Centre’s focus on 5G applications development, AI to strengthen tech ecosystem, say industry execs

NEW DELHI: The Centre’s proposal to set up 100 labs in engineering institutions for the development of 5G applications and three centres of excellence (CoEs) for artificial intelligence will drive growth in respective industries while strengthening the country’s tech ecosystem, foster innovation and entrepreneurship, said top industry executives, terming the Union Budget 2023-24 as broadly inclusive.

“To realise new range of opportunities, business models, and employment potential, the labs will cover, among others, applications such as smart classrooms, precision farming, intelligent transport systems and healthcare applications,” finance minister Sitharaman said in her Budget speech in the Parliament on Wednesday.