As pioneers in AI-powered parking solutions, ParkMate anticipates robust backing from the upcoming Union Budget 2024-25. Recognizing parking challenges as a hurdle to India’s economic progress, we advocate for comprehensive support to auto-tech startups, real estate entities, and OEMs through strategic incentives. Collaborative efforts among stakeholders in parking management can transform Indian roads into smart and safe spaces. As the role of artificial intelligence in boosting the auto sector is paramount, we also call for budgetary backing for AI-focused upskilling programs. Building on past successes like the establishment of three AI Centers of Excellence, there’s a pressing need for upskilling initiatives to meet industry demands, aligning with the government’s vision of ‘Make AI in India’ and ‘Make AI Work for India.’ In addition, facilitating startup growth through streamlined regulations, simplified funding processes, and enhanced access to investors can catalyze job creation, GDP growth, and overall sector dynamism. Moreover, we hope for sustained support in streamlining compliance, further improving the ease, cost, and speed of doing business in the auto sector.
