Budget 2021 Expectations: Just 2 more days to go for one of the most anticipated budgets and the expectations from it are sky high. Great expectations from the Union Budget are not being expected just by the common man, but from the industry at large including the tech start-ups.
One such start-up is Astra Security. It is a Techstars-backed company which provides cybersecurity solutions to businesses. The company offers services including security audits, firewall and malware scanner. It claims to be giving its services to companies include Vodafone, Lynas, Unilever, NIIT, TEDx, Muthoot, Ford, Gillette.
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“The upcoming budget will be the biggest testimony for India’s posture in this new post COVID-19 world,” Shikhil Sharma, Chief Executive Officer (CEO) and Founder said.
A sharp focus on employment and entrepreneurship led growth is anticipated, he said. He is expecting a “more relaxed and flexible compliance” requirements for startups which would attract more investments.
“Over the last decade, Indian IT startups have preferred to have their headquarters in the US or Singapore to have friendly tax and compliance setup,” Sharma said.
“New policies should facilitate smooth landing of offline businesses in a digital world by relaxing compliance requirements which in turn will enable payment gateways to offer these businesses a smoother transition,” he further said.
This will empower more Indian SMEs to take their products and services across the globe, he reasoned.
“As India prepares to become more digitally savvy in 2021, we need to shore up our defenses against cyber-attacks by enhancing data protection and have a much strengthened policy in place for all sectors which is enriched via consultations from startups and companies working in this space, public consultations and aligned with best global practices,” he said in conclusion.