If Narendra Modi in his second term can fulfill these Startup India objectives then a third term is already assured. Creation of employment opportunities, tax revisions, and policy reformations, a single window of speedy approvals, scope for new age technology implementation, creation of indigenous innovation hubs should be what Modi’s second term Government should concentrate to make India top global listing on ease of doing business and digital innovations.
As the country’s leading music app, we are hopeful the newly appointed leadership will help establish a more favorable business environment that cements our country’s status as a global innovation hub.
Prashan Agarwal, CEO, Gaana.com:
“The ongoing 4G revolution is a result of the favorable business environment created by the government’s progressive policies. The rapid increase in the country’s Internet population over the past few years has aided digital-first businesses like ours and triggered a widespread rise in customer-centric product development out of India. As the country’s leading music app, we are hopeful the newly appointed leadership will help establish a more favorable business environment that cements our country’s status as a global innovation hub.”
We can expect to see a growing demand for technology expertise in several critical areas such as smart cities, connected healthcare, and Electric Vehicle technologies, backed by the Government’s active policy framework.
Dr Panda, CEO & Managing Director, L&T Technology Services:
“This election is a victory for Indian democracy and the people’s mandate. A stable and clear majority is always beneficial to business and international trade and commerce. As India builds upon its global position of being a leader in new-age innovations, it is the right time to leverage the country’s unique capabilities to serve as a best-in-class ER&D services destination. We can expect to see a growing demand for technology expertise in several critical areas such as smart cities, connected healthcare, and Electric Vehicle technologies, backed by the Government’s active policy framework. We foresee technology companies coming out with digital engineering solutions catering to all of these in the coming years.”
CP Gurnani, MD & CEO, Tech Mahindra:
“Spearheading the world’s largest democracy is no mean feat, so congratulations to the winning team. It is time for us to drive positive change by leveraging digital technologies and embolden India’s collective dream of becoming a five-trillion-dollar economy. This also underscores the massive task that lies ahead of us – of shaping India’s future. It’s time for each one of us to step-up, collaborate and contribute towards the great India dream.”
The government needs to author a more transparent and accurate measure of job creation and wellbeing to ensure we can pursue progressive milestones.”
Siddhartha Gupta, CEO, of Mercer|Mettl:
“India has once again given a clear mandate instead of a fractured one, it should bear fruit for us in the coming years. My advice to the new Government would be to press the pedal on growth enabling measures both social and capital. Higher targets on being a conducive business environment with the abundant talent available should be the mission & vision for India. Policy and infrastructure for Up-skilling, re-skilling, and improving the ground-level education in consonance with building capability on disruptive technologies like AI, ML, and data science have to be developed. The government needs to author a more transparent and accurate measure of job creation and wellbeing to ensure we can pursue progressive milestones.”
We would also want the government to rework on import/ export policies. The government should make them more transparent for the ease of doing business.
Saania Singh, co-Founder, Zero Gravity Aesthetics:
“Government policies and their implementation have always played an important role in how different businesses fare in the market. This is why it becomes important to consider the voice of companies and other stakeholders while implementing any policy. GST was implemented the same year Zero Gravity Aesthetics was launched. It is no secret that GST led to the extreme shortage of working capital, to combat which there is no backup plan in place. This has translated into a major hurdle for Zero Gravity Aesthetics, like numerous other startups/entrepreneurs. Due to this, carrying out business operations is a challenge. Now with the same government back in the majority, we expect it to act on the issue and make working capital available through banks or reasonable interest rates. We would also want the government to rework on import/ export policies. The government should make them more transparent for the ease of doing business, if it wants to see us scale heights and help us prepare better for the globally competitive market.”
Another major challenge in our country is job creation and therefore this sector should be vigorously promoted in order to facilitate the generation of employment and envision a digital world.
Subramanian NN, Director-Delivery and Co-Founder, Maveric Systems:
“Technology plays a major role in raising productivity and innovation. We sincerely believe that technology can become an important driver for our country’s economic growth and social development. However, to begin with, the government should push more on the impact of AI/IoT, data science and analytics network which is beneficial for the IT industry. Digitization and a faster web will also continue to encourage the technology industry in India. Implementing these dealings can also improve access to data and will enable India’s transformation into a data-driven economy. Another major challenge in our country is job creation and therefore this sector should be vigorously promoted in order to facilitate the generation of employment and envision a digital world with plenty of options for the youth of tomorrow.”
Rashie Jain, co-Founder & CEO, Onco.com:
“The new government should look at creating an ecosystem which should focus more technology-enabled solutions not just for metro cities but also in tier-2/3 cities to educate people on the new developments. This can solve the access problem tremendously in healthcare. The government being pro-tech is a positive sign towards New Bharath.”
The comeback provides a stability that is crucial to attract FDI and capital – that shall keep the ecosystem thriving.
Vineet Chairania, CEO, Trainman App:
“Overall the sentiment is quite positive in the startup community for Modi as he is the first PM who has mentioned startup word in his speech and campaign agenda. Most likely more number of startups will emerge now every year from India. Now I can also expect internationally renowned investment firms like Sequoia Capital and Andreessen-Horowitz to become more active and fearless in investing in Indian Startups. And above all, I am sure Modi will incentivize startups that do something to curb pollution and make our country greener and cleaner.”
Subhashis Mukherjee, Managing Director, M2M CYBERNETICS:
“We have a huge expectation that Modi administration will usher in a lot of ingenious technology initiatives that will make our lives better. To include Real Estate as Core Industry and stimulus plans for its revival. Economy reviver plans and stimulus packages fostering growth through promotion of Infrastructural programs like 500 more smart cities and 6.5 Lakh more Smart Villages in the ambit.”
Aditi Balbir, Founder and CEO, V Resorts:
“This is the only government to recognize the importance of startups – and not only for job creation but for innovation, scale and ultimately wealth. The comeback provides a stability that is crucial to attract FDI and capital – that shall keep the ecosystem thriving. The government is approachable and willing to listen, even to smallest of start-ups and initiatives such as Start-up India and Invest India work towards bridging our requirements with them.”
Shashwat Diesh and Aqib Mohammed co-Founders of Azah:
“A stable government at the center will definitely lead to a positive investor outlook and hopefully, increased foreign investments in the country. We are also hoping that the financial reforms introduced over the past 5 years will be further refined as well as complemented by new schemes to help startups and SMEs flourish. A further reformed GST policy, relaxed rules with respect to fundraising as well as reduced bottlenecks while setting up a new company can go a long way in enabling the same.”
The government should include regulations that will drive organizations to digitalize key logistics and supply chain processes.
Kushal Nahata, CEO & Co-founder, FarEye:
“While initially, India’s start-up ecosystem was largely dominated by consumer-facing companies, B2B ventures are finally finding their feet now. India added 2,300 B2B startups in the last 5 years. With the increased focus and support from the BJP government, we are certain that the next 5 years will bring immense opportunities and growth for start-ups in fast-growing sectors like Logistics-tech, Agritech, Fintech, and Healthtech, et al. The government should include regulations that will drive organizations to digitalize key logistics and supply chain processes. For instance, by mandating digitalization of certain key accounting, billing and logistics processes the government can ensure greater levels of compliance, at the same time organizations can improve efficiency. We also expect the government to build integrated transportation hubs or Multi-Modal Logistics Parks that foster an invigorating ecosystem for logistics in India.”
On the GST front, I would appeal the government to introduce simpler filing processes for startups and MSMEs
Ashutosh Harbola, CEO & Co-founder, Buzzoka:
“The re-elected government will have a lot more on their shoulder as new India has higher expectations this term. While digital India saw a mammoth growth in the last term, we expect the same to continue with higher investments in same. Also, on the front of ease of doing business, the government took some major steps last term and we expect even simpler processes should be implemented. And finally, on the GST front, I would appeal the government to introduce simpler filing processes for startups and MSMEs.”
Kishan Jain, Director, Goldmedal Electricals:
“The rapid proliferation of new technologies such as internet of things, artificial intelligence, connected devices & home automation, have provided FMCG companies tremendous opportunities to grow, flourish and expand into newer industry segments. Additionally, the past few years have seen the Government of India had a keen focus on the promotion of energy efficient solutions such as LED lighting. With the current Government all set for a second term in office, we hope that this trend continues as it would give further fillip not only to the manufacture of such products but also to the Government’s ‘Make in India’ and ‘Smart Cities’ initiative.”
Jitendra Chaturvedi, Director, and co-Founder, Batooni Mobile Advertising:
“The government had started smoothening the tax issues in startup funding. Continuation of the regime will hopefully hasten the change in the procedures and laws helping startup funding. BJP’s known penchant for advertising is very good news for ad-tech startups.”
Bhavin Turakhia, CEO, Zeta & Flock:
“In the last four years, Indian B2B startups have more than tripled. Our country is now taking giant strides towards becoming one of the fastest growing startup hubs globally. To make this a reality and accelerate their growth, the new Government of India must put in place measures such as training hubs for entrepreneurs across India to ease the flow of capital, regulatory compliance and more. Further, these hubs must act as one-stop knowledge, research, and development centers so that startups can focus more on innovation and less on processes. Thus, acting as a catalyst or emerging startups across sectors.”
The expectation from Government is to make the process simpler to comply with – A single clearance window – which ensures end-to-end solution or procedure to be followed by a startup.
Satyam Kumar, CEO & Co-Founder, LoanTap Financial Technologies:
“Currently, a startup needs to follow a number of compliance laid down by various regulatory bodies as well as there is a knowledge gap because of multiple points of contact. While they are definitely necessary, they are onerous and costly to comply with. Compliance is expected with regards to Labour Law, MSME Registration, Investment, MCA Compliance as well as ones related to individual sectors. There should also be a consideration on hefty penalty in cases of non-compliance. The expectation from Government is to make the process simpler to comply with – A single clearance window – which ensures end-to-end solution or procedure to be followed by a start-up that enables pro-active compliance as well as helps to avoid unnecessary costs.”
Javed Tapia, Founder, Slonkit:
“The current government has given a fillip to startups with initiatives such as Startup India which enables self-certification, rebate in filing patents, income tax exemptions, easier public procurement norms etc. I think the new government should further enhance the vibrant startup ecosystem wherein startups can collaborate seamlessly and share knowledge and technical expertise. This will help India to leverage its entrepreneurial potential and become a hotbed of unicorn start-ups across different sectors.”
With the second term, we expect the government to utilize the mettle of India Inc and emerging technologies like AL, ML, IoT and Big Data to solve socio-economic issues of the country.
Saurabh Saxena, Country Director, Micro Focus India:
“India’s rich diversity, demographic potential, fast-growing market size and digital infrastructure has potential to make India a global hub for research and implementation. With initiatives like Digital India, Make in India, AI council, etc. the Government had set a great precedent in accelerating the era of digital transformation and Industry 4.0. Though some of the economic policies created a blizzard of controversy, they successfully paved a path to use science, technology and innovation skills for the citizen services as well as to boost the indigenous innovations, achieving synergy between various industries and scientific research. This was reflected in a historic movement as the World Bank’s latest Ease of Doing Business Reported India’s rise to 77th rank, up from 100 within a year. Introduction of technology in the sphere of governance has brought in greater transparency, accountability, and monitoring. With the second term, we expect the government to utilize the mettle of India Inc and emerging technologies like AL, ML, IoT and Big Data to solve socio-economic issues of the country. The need of the hour is also to pursue with more vigor important initiatives like deregulation and privatization of state-owned companies along with reforms to modernize labor markets to uplift the job scenario in the country. There are mounting possibilities and expectations for the Government, we look forward to the Centre to now lead us into a better-connected world.”
Karan Bedi, CEO, MX Player:
“Indian OTT platforms have benefitted from the historically low data prices that are a product of the government’s favorable measures. As the country’s largest video streaming platform, we are excited about the potential for growth in digital-driven ecosystems across semi-urban and rural India. Technology and telecom infrastructure development in these areas will further accelerate our entry into smaller markets while offering OTT players the opportunity to innovate and flourish at scale. It will also help more indigenous talent to emerge and trigger a cycle of inclusive growth.”
Gautam Sinha, CEO, Times Internet:
“We are hopeful the current government will continue with its progressive policies in the technology and startup sectors. The Indian startup sector has seen a considerable boost in the past five years and is now calling for bolder reforms. Clearer policy directions and enhanced ease of doing business will help establish a healthier ecosystem for large-scale businesses as well as tech entrepreneurs.”