Technology has become the cornerstone for Indian startups, and if Finance Minister Nirmala Sitharaman's latest Union Budget address is anything to go by, India's growing crop of tech-led startups appear set to benefit from an improved operating environment.

While the Union Budget for 2020-2021 provided more incentives for the Indian startup ecosystem such as relief on Employee Stock Options (ESOPs), GST tax structure, and a seed fund to aid funding for early-stage startups, it laid special emphasis on the use of new-age technologies like artificial intelligence (AI), machine learning (ML), and quantum computing -- a major positive for India's tech-oriented startups.