The launch of BharatTradeNet (BTN) as a unified platform for trade documentation and financing solutions will streamline international trade. By complementing the Unified Logistics Interface Platform, BTN will undoubtedly enhance efficiency
FinTech BizNews Service
Mumbai, February 1, 2025: The Internet and Mobile Association of India (IAMAI) in a statement welcomed the forward-looking initiatives announced by Honourable Union Finance Minister Smt. Nirmala Sitharaman in the Union Budget 2025, reinforcing the government’s commitment to India’s digital economy, start-ups, and gig workforce.
The new Fund of Funds, with expanded scope and a fresh contribution of another Rs. 10,000 crores will provide impetus to India’s growing start-up ecosystem. IAMAI also welcomes the Government’s decision to extend the start-up incorporation window by five years, thereby enabling start-ups incorporated until April 1, 2030, to avail benefits under Section 80-IAC of the Income Tax Act.
The launch of BharatTradeNet (BTN) as a unified platform for trade documentation and financing solutions will streamline international trade. By complementing the Unified Logistics Interface Platform, BTN will undoubtedly enhance efficiency.
IAMAI thanked Smt. Sitharaman for recognising the contribution of the gig workers of online platforms to the growth of the new-age services economy, and appreciates the Government’s initiative to arrange for their identity cards and provide healthcare under the PM Jan Arogya Yojana.
The India Edtech Consortium (IEC), which functions under the aegis of the IAMAI, commended the Hon’ble Finance Minister for taking forward the National Education Policy (NEP) 2020 initiatives and addressing the challenges of the education sector. "We welcome the Union Budget's focus on advancing the goals of NEP 2020 and addressing key education challenges. The expansion of IITs and 75,000 additional medical seats over five years is a crucial step in reducing medical student outflow to other countries, given that over 23 lakh students appear for NEET, but only 1.1 lakh seats are available.
The Bharatiya Bhasha Pustak Scheme will enhance regional language learning, while 50,000 Atal Tinkering Labs in government schools will foster scientific temper and innovation. Broadband connectivity in secondary government schools can be a game-changer, enabling affordable, high-quality, and personalized digital learning solutions. Public-private partnerships with edtech companies can be explored as they become a bridge between policy and execution of this initiative. The recognition of AI’s role in education is commendable, with the Rs500 crore Centre for Excellence in AI for Education paving the way for smart, adaptive learning. These initiatives lay a strong foundation for a future-ready, inclusive, and tech-driven education ecosystem in India," said Mr. Prateek Maheshwari, Co-Founder, PhysicsWallah (PW) & Chairman, Indian Edtech Consortium (IEC).
