As the Union Budget approaches, education leaders are advocating for enhanced funding and initiatives that focus on skill development, experiential learning, and research. Dr Yajulu Medury, Vice Chancellor of Mahindra University, emphasised the importance of government-led measures to nurture young innovators.
“We anticipate increased funding for the education sector in the upcoming budget as we see the growing emphasis on skill development, experiential learning, and research and development. The government’s focus should include initiatives such as tax incentives, industry-aligned training programmes, and faster patent approvals,” Dr Medury stated.

Strengthening Entrepreneurship Through Policy Support
Dr Medury highlighted the urgent need for robust support systems for entrepreneurs. “Our young entrepreneurs need a strong support system right now. Increased financial incentives, simplified regulatory frameworks, and enhanced incubation support will further stimulate technological advancements,” he said.
He also stressed the role of public-private partnerships in creating opportunities for students and fostering an interdisciplinary approach to education. “Support towards these partnerships can enhance learning opportunities among students and make education more accessible. This approach can bridge the gap between academic knowledge and practical application, ensuring a more holistic and effective education system.”
India’s Potential in the Creative Economy
Dr Sanjay Gupta, Vice Chancellor of the World University of Design, pointed to India’s growing prominence in the global creative economy, particularly in animation, AR/VR, and design sectors. “India is poised at a critical juncture in the global creative economy. Our animation, AR/VR, and design sectors are demonstrating world-class capabilities, while our educational institutions are producing exceptional creative talent,” Dr Gupta said.

AR/VR and Design as Future Growth Drivers
Citing the projected growth of the global creative industry, Dr Gupta noted that the AR/VR market is expected to reach $165 billion by 2030. He underscored India’s opportunity to leverage its cost-effective talent pool through strategic policy support. “By combining our cost-effective talent pool with strategic policy support, we can transform from a service provider into a global creative powerhouse. The time for concerted action is now,” he added.
Call for Centres of Excellence and Regulatory Reforms
Both vice chancellors called for the establishment of additional centres of excellence, along with simplified regulatory frameworks and financial incentives. These measures, they believe, will drive innovation and enhance India’s competitiveness on the global stage.
As anticipation builds, the education sector is hopeful that the upcoming budget will provide the much-needed impetus to bolster innovation, accessibility, and global competitiveness in education and research.