The 2019 Indian general election was held in seven phases from 11 April to 19 May 2019 to constitute the 17th Lok Sabha. On 23 May, the result set a record. Prime Minister Narendra Modi won the battle with the majority. He is all set to take an oath for his second term as prime minister. It was a historic victory for the Bhartiya Janta Party.
On the smashing victory, let’s read what our industry is expecting from the new government.
Dr Dharminder Nagar, MD, Paras Healthcare
Narendra Modi led NDA has won an emphatic mandate from the people. We welcome the election results particularly the fact that this will mark a continuity of the government’s social and health initiatives such as Ayushman Bharat. Launched in September 2018, the landmark scheme has already benefited over 23 lakh people with a majority of treatments happening in the area of cancer, heart disease and kidney ailments. This has already made a huge difference in the lives of people who could not afford the high cost treatment of the above mentioned conditions. I am sure, this scheme played an important part in influencing voters. With the re-election of the government, we hope the PMJAY scheme will continue to receive sufficient focus and funds from the state. We also hope that in the future, considerations will be made to expand this scheme to include the middle class citizens as well through creating more affordable premium models or co-pay modes. We hope to see this initiative also to provide insurance cover to people with pre-existing conditions who are denied insurance by private players.
Ankur Pahwa, Partner and National Leader – E-Commerce and Consumer Internet, EY India
E-commerce perspective: As the new government steps-in, among key policy interventions, the e-commerce policy needs some urgent attention as it can propel investments, job and wealth creation to boost overall economic growth. The colour of money differentiation needs a re-examination, wherein more emphasis should be given in governing the sector than focusing on foreign vs domestic capital segregation. The need of the hour is an equalised policy treatment for both foreign and domestically funded e-commerce companies, consistency in the approach governing both online and offline retail players, and a well-rounded data policy in-line with global standards that takes into account consent, privacy, protection, ownership, access and usage of data for both individuals and companies. The e-commerce policy also need to take into account the view of impacted stakeholders and provide sufficient runway for implementation. Furthermore, incentives to companies exploring ‘deep-tech’ such as AI, ML, IoT, etc., will bring in more efficiencies in the system and ultimately improving customer experiences.
Start-ups perspective: “India remains the world’s second largest start-up nation and clearly the government has had the right intent to boost start-ups in the country to foster innovation and job creation, while protecting both investors and entrepreneurs. While measures have been taken to provide relaxation from Angel Tax, there are still some unfulfilled expectations linked to its simplification when looked at from a long-term lens. More attention is needed to protect entrepreneurs; at the same time enable promoters and investors to raise capital through differential voting rights. While the government has made considerable and commendable headway in ease of doing business, further steps linked to easing of norms will fuel the start-up ecosystem.”
Nimish Gupta FRICS – MD, South Asia – RICS
On the back of the exit polls, it was fairly evident that once again we would have a Modi led government re-establish power at the centre. This spells confidence for macro-economic activity picking up pace again, along with the outlook for realty businesses to improve in the mid to long run. The election results will also have a more immediate and direct bearing on consumer and investor sentiment. Having a stable government at the helm bodes well, especially in the current scenario, where the realty sector is reeling under the pressures of a liquidity crisis. I firmly believe that the Modi government in its second term will lay greater emphasis on enforcement and implementation of the reform and regulatory mechanisms it set in motion in 2016. It is also heartening to know, that despite the hardships the sector has faced the reform agenda is equally endorsed by all stakeholders.
Having said this, the current global outlook of the Indian economy and the added attractiveness of being the fastest growing mega economy of the world (in addition to the rapid rise and continued focus on improving ranking on the ease of doing Business Index) requires India to expeditiously take steps in creating an environment conducive to international business participation, transparency, and ethical practices. With infrastructure development a priority in the nation building process, we need to create an inclusive and conducive business environment where international firms can lend their expertise and resources. To this end, we do need to work towards streamlining our approval mechanisms and moving to a single window clearance system, while at the same time also considering establishing a Construction Regulatory Authority (CRA) to create a fair and level playing field for construction activity to flourish. We also need to ensure that different regulatory mechanisms talk back to each other in order to aide cash flows in the sector. This can be facilitated, bearing in mind the Digital India mandate, by technology and other platforms that are available.
Lav Kumar, Head- Product & Business Development at LIC Mutual Fund
The general election results are almost out now and the electorate has given a clear & decisive mandate to Prime Minister Modi. It is very important to have a stable government at the Centre which can derive the country into a strong economic growth.
The pace of much needed reforms in various sectors will gain pace & the growth rate will accelerate.
We believe the Indian economy in 2019 will keep growing faster than 2018 due to the demographic young population and their demand for better lifestyle, goods and services.
The clear policy direction & ease of doing business will not only bring foreign direct investments but also create the environment of entrepreneurship.
A stable government at center will also be in a better shape to negotiate on the world platform for a better politico- economic deal.
Having said that, the economy is facing head winds in terms of growing oil prices, global trade wars which too need to be tackled deftly.”
Aditya Ghosh, CEO, India & South Asia, OYO Hotels and Homes
The Indian General Elections is the biggest testament to the power of democracy in the world. Irrespective of the political divide, we hope for a new beginning of inclusive growth, which helps the common man; renewed vigour in creating more opportunities for all; progressive thought and reforms that enable growth and entrepreneurship; and, drive maximum participation of young people.
Mihir Vora, Director & Chief Investment Officer, Max Life Insurance
The clear mandate removes a big overhang of uncertainty over the markets. An incumbent with a large majority winning again in a big way is a historic milestone. This is a significant positive for market sentiment and for attracting global investors.
However, given the ongoing domestic slowdown, stress in finance companies and global uncertainties like Iran , China trade negotiations and Brexit, the new Government will need to hit the ground running. The announcement of the cabinet and key initiatives to kickstart growth will be keenly watched by the markets.
Vishal Gupta, Co-Founder, and CEO, Momspresso
We strongly felt that the real issues that impact the lives of moms have been underrepresented in all the manifestos and conversations around us. As the largest community of mothers, we decided to take the onus of creating a manifesto that presents the voice of mothers, a view that is crucial to the overall progress of the country. The study finds that Indian mother’s are most concerned about personal safety(70%), safety of their children(62% and child education(45%). We believe that these concerns and aspirations of mothers will now reach the right audience among the powers that be.”
Pradeep Aggarwal, Founder & Chairman – Signature Global India and Chairman – ASSOCHAM National Council on Real Estate, Housing and Urban Development
It is good news as the step that it has taken earlier will take a better shape now. It is always good to get a government that is concerned about a sector and the people involved in it. For the first time in many years a government has shown inclination towards paying heed to demands of the sector. GST and RERA are the two aspects that were ignored for quite a long time and by coming out with policies for it, as far GST is concerned we feel that reduction in rates is lucrative for the buyers but Input Tax Credit should be given to developers. The government has shown that it has good intentions to fulfill the Modi Ji’s vision ‘Housing For all by 2020’ and that it is not only a slogan.
Amit Modi, Director, ABA Corp and President (Elect), CREDAI (Western UP)
We extend our congratulations to the newly formed government and hope this massive mandate ushers in continuing reforms in the economy, and the impetus on infrastructure and Real Estate related policies including Housing for All 2022, Industry Status to Affordable Housing, implementation of RERA, industry status for Infrastructure sector and offcourse the reduction of GST on housing to name a few.
Real estate is a labor and capital intensive sector that creates lakhs of economic opportunities and we look forward to contributing towards the governments vision of providing quality housing to the citizens of the country.
At the same time we believe that a stable and strong government will be we able to deliver on long standing demands of the industry like Industry Status for Real Estate Sector and transparent online Single Window Clearance to further contribute towards to stability and progress of the sector and the economy.
Harinder Singh Hora, MD, Reach Group
We foresee policies such as single window clearance becoming a reality soon from this government. Like many other demands, this too has been in the queue for quite some time and all the stakeholders have been waiting for it. If single window clearance comes into effect then the timely delivery will improve and it will act as one more step in regularising the real estate sector, as approvals and more so timely approvals and simultaneously development of infrastructure around projects are integral part of real estate development ,more simplification of processes, accountability and efficiency on timely approval from relevant Goverment authority is must for industry to accelerate pace of development and bring back demand in the sector .
On retail side , FDI policy in Retail sector will also boost demand in organized retail development that will lead to huge creation of Jobs and will certainly help the allied industries to flourish. Foreign investment in real estate development projects will also increase and ease out liquidity across all segments of real estate.
Due to acceleration in economy demand for commercial real estate will be very positive ,emergence of new innovative solutions and formats such as Co-working spaces will see a rise in demand and help the growth of industry . Overall for Reality market continuity of Existing Government brings optimism and hope’s of promises being delivered to accelerate the demand and growth for the most important industry leading to positive Contributions to Indian economy.
Deepak Kapoor, Director, Gulshan Homz
Any government if continues in power then the implications on policies are positive and it is expected of them that they will carry forward the good work of the past. Numerous steps like GST, RERA, decreasing EMI burden etc meant that the real estate sector can take a sigh of relief. It was evident in the sales figures of FY 19 that witnessed increased sales and also increased enquiries. The buyers were watching and waiting but now as the result is our the impact will be seen in next few months only in terms of windfall in terms of sales, enquiries and launches.
Ashok Chopra, Country Head at Fresca Juices
We congratulate the current government and hope they will continue to ensure the implementation of more progressive policies. We expect the government to help small traders and businessmen by further simplifying GST. It will also be helpful if the GST returns are allowed to be filed on a quarterly basis.
In terms of other policies, we expect more incentives for the setup of new food processing plants. We would also ask the government to consider increasing direct FDI in the food processing industry. Additional incentives to promote the Make in India campaign should also be a prime area of focus, as it can help create more job opportunities for the country’s youth.
Punit Shah, Partner, Dhruva Advisors LPP
The Business Community in India as well as Foreign investors will certainly have a very high expectation from the new government. The current NDA government had commenced and implemented several reforms such as GST, IBC etc., however there have been several issues and hurdles in implementing these reforms such as complexity of GST regime, multiplicity of GST rates etc. Similarly under IBC reforms, the experience has not been fully satisfactory in terms of the speed and the manner of the resolution of the cases. It would be an expectation that these difficulties are addressed under the current regime of the NDA government.
In spite of several assurances by the UPA as well as the NDA Governments, the Tax Administration and the scenario of the tax litigation with the revenue authorities have not substantially improved. The current NDA Government and the CBDT has made some efforts in clarifying applicability of several Tax provisions by way of issue of circulars. However, there remains several ambiguities in interpretation of the Tax Laws, which need to be clarified. Similarly one of the stated objectives of the Government was to reduce tax litigation by undertaking several measures. Although a few steps have been taken such as non-filing of appeals for smaller amounts of litigation, the same doesn’t seem adequate considering the number of cases pending and amounts involved in the current litigation at various levels of judiciary. Measures such as activating AAR regime, speedier disposal of cases by setting up additional benches etc. would need to be undertaken.
Lastly the NDA Government has laid out a road-map to reduction of tax rates coupled with elimination of exemption / deduction in most cases. Some measures have been taken to reduce tax rates in certain cases and some rationalization has already happened in the areas of exemption / deductions; however, this process needs to be taken to its logical conclusion. “
Ashish Sharma, CEO, InnoVen Capital
The last government has been very supportive towards the Start-up eco-system and with continuity, we hope that this will remain a priority area for the new government. There is a clear recognition that the centre of gravity continues to move towards new economy business models, which are starting to become a meaningful contributor to economic growth and generating employment”
Juergen Hase, CEO, Unlimit
The Indian start-up sector have already been ignited in the past five years with favourable policies around taxation, investments, ease of doing business, incubation, foreign capital, cross border, startup lobby groups, industry associations. The foundation of the of the ecosystem is already in place with India being the third largest hub for start-ups globally. Active government involvement is the need of the hour to resolve challenges such as unemployment, and funding for the growth of the industry and the economy at large. For start-ups to flourish it is imperative to create an environment that is conducive to physical, offline small businesses and hardware product firms operating locally. The new government should continue with initiatives such as Make in India and Digital India to aid the growth of the start-up industry and also work towards a digital economy by installing proportionate methods to tackle policy challenges”.
Prakash Tulsiani, Executive Director & CEO – CFS, ICD, Shipping & Investor Relations, Allcargo Logistics
The overwhelming election verdict will definitely encourage the new government to intensify its development agenda. The new wave of development and the benefit of policy continuity will positively impact the $160 billion logistics sector which is expected to grow to $215 billion in the next two years.
The logistics sector is now looking for stronger and deeper adoption of digital technologies. While we continue to work towards increasing the pace and size of creating physical infrastructure within the logistics sector, it is essential that we also invest in digitalization of the sector to increase operational efficiency and reduce cost. New and emerging technologies like blockchain, AI and robotics are completely redefining the global logistics business. The pace of large scale adoption must pick up.
Adoption of new technologies along with digitalization of the sector is likely to throw up new challenges in term of manpower and skills. Creating a completely new skilling ecosystem that will address this change will be essential.
Ankur Maheshwari, CEO Equirus Wealth Management
This is a very clear result. There will be stability from an economic point of view and this is highly positive for the markets. On the other hand, the Nifty trailing PE is close to 29 and this is not a cheap market. There is a trade war between the US and China. Systematic Transfer Plans are a good way of reducing risk in such circumstances. In terms of segments , mid and small caps have corrected strongly over the past 12-18 months. Such companies tend to rally in a bullish phase and hence investors should have some exposure to them.”
Akhil Shahani, Managing Director, The Shahani Group
We appreciate the efforts of the government to facilitate industrial growth in the education segment during its previous term, and expect that with its reappointment, it will renew its drive to bring about rapid and significant development in the sector. A key factor that plays a role in this growth is the availability of skilled and trained workers, which continues to be lacking. To address this urgent need, we hope that the government implements a number of much-required reforms in the education sector, in order to ensure that India has the talented workforce that can help sustain its continued growth.
Dr. Jitin Chadha, Founder & Director, Indian School of Business & Finance (ISBF)
It’s heartening to see a strong constitutional majority instead of fragmented results. A single party government certainly stands at a better position to achieve economic stability, earning the confidence of both national and foreign investors. Expectations will increase in terms of the influx of investments being put to use to improve infrastructure at primary, secondary as well as higher education level, focusing on skill development and upgrading Indian education system to match the international standards, ultimately creating industry-ready professionals. Following that, with a stabilised economy, employment opportunities, a metric that has often been a source of disappointment in the past, is also expected to grow considerably.
Ankit Gupta, Vice President, ExportersIndia.com
We have been on the path of digitalization and global exposure since the past few years now. We hope that in the future too, there is a focus on easing the path for MSMEs. Private investment and consumption would be two key facets that would need some fast paced working to set the economy ticking. MSMEs look forward to the liberalization of policies so that they are able to innovate, invest in new technologies and equip themselves to adapt to the changing business environments. Additional measures to improve corporate productivity, as well as reforms to ease the way business is done is an expectation from all sectors.
Sanjay Chaturvedi, CEO, Shubham Housing Finance
Markets have already reacted positively in anticipation of the current government continuing with its strong policies to promote growth. We believe that this is immensely positive for the housing finance and housing market.
The market has greeted the anticipated results with a thumbs up and while there might be a little correction after the initial euphoria but overall we expect it to be positive. We expect growth to accelerate
Saru Tumuluri, CEO, Veri5Digital
A big boost is anticipated for the Financial Inclusion and Fintech sector in the second term of the NDA government. Fintech will continue to be a sunrise sector and with more supportive government regulations will exhibit tremendous growth and innovation especially in the sachet size financial products. With our suite of onboarding & digital products (KYC, eSign, eNACH), Veri5Digital will have a very important part to play in this growth sector by helping BFSI maintain compliance and costs in the delivery of these sachet size solutions “
Manas Mehrotra, Chairman, 315 Work Avenue
We expect the new government to allocate additional funds exclusively for developing infrastructure and improving connectivity in the peripheral areas of cities, especially the metros that will spur growth in the future.
The government should also focus to build startup hubs across the nation to drive entrepreneurship. The government could consider to relax the regulatory compliance strings a bit and altering them to be pro-growth as it is one of the biggest impediments to the growth of start-ups. Undoubtedly, there is potential within the start-up community, but it will all boil down to how much room they get to manifest their potential. We also expect that they look into certain consideration on Angel tax which is currently hindering the growth of start ups. The new government can nurture entrepreneurship by funding ‘incubation centers’. The government should focus on inclusive development and favorable environment for entrepreuners and bring favorable reforms for startups which in turn will aid on more job creation and growth. Finally, it should focus on taking steps to encourage the spirit of entrepreneurship amongst the youth.
Devendra Parulekar, Founder, SaffronStays
We hope to see the elected government work on rationalising the GST rates as the top end of the customer segments are choosing to holiday abroad, with the current GST bracket ultimately impacting the domestic travel economy. This in turn creates a ripple effect on the employment rates as well. The hospitality industry is a big contributor when it comes to providing employment and need to be actively encouraged and one of the ways of doing so is ensuring that domestic travel becomes an affordable option for the Indian traveler.
It would also help if the government widens the scope and budget of National Skill Development Corporation to train our youth in hospitality operations, housekeeping, front office, cooking and other skills related to the industry, as it create a ready pool of employable resources for the industry.
Another aspect that takes away from the domestic travel industry’s growth is the lack of adequate infrastructure. We expect that the elected government to focus on building good quality roads, for the comfort of every traveler along with building public restrooms on highways and petrol stations that are women friendly. Just taking a few mindful steps can go a long way in nudging the domestic travel industry upward on the growth trajectory. Lastly, I also think that a government led initiative to encourage more eco-friendly and sustainable solutions to reduce should energy consumption can really contribute positively towards boosting the economy. We can’t have a singular lens towards growth anymore, the onus lies with the government as much as it does with the population of the country to imbibe an empathetic lens and work towards building economies that are flourishing that don’t cost us the environment we want to flourish within.”
Ajay Adiseshann, Founder and CEO, PayMate:
“Our expectations from the new government is to ensure we have policies to encourage and support startups along with transparent investment policies coupled with adequate but minimum regulations to foster innovation. Startups are making a positive contribution to employment and over the next 10 years can potentially be one of the largest employers of both blue and white collar workers. Startups are critical to the nations future.”
Tanul Mishra, Founder and CEO, Afthonia Lab:
“Our expectations from the new government is to ensure we have policies to encourage and support startups along with transparent investment policies coupled with adequate but minimum regulations to foster innovation. Startups are making a positive contribution to employment and over the next 10 years can potentially be one of the largest employers of both blue and white collar workers. Startups are critical to the nations future.”
Shakar Prasand, Founder and Director, PurePlay Skin Sciences:
- Use technology (e.g., AI and blockchain) to remove manual compliance checking. Businesses that have their GSTIN, PAN, IEC etc registered should be “green channeled” through routine processes, instead of having to do KYCs and submit photocopies of the same documents (simply to prove our legitimacy) again and again to every authority that thinks of asking for it. This will vastly and truly improve the “ease of doing business”.
- Reduce the number of licenses and return-filings required to operate a business. Again use of technology can throw up exceptions, whereas the return filing process is a passive “I’m all compliant” process at present
- Hasten up physical infrastructure projects like metros and subways. In a city like Mumbai, the candidate’s place of residence has become my No. 1 consideration while shortlisting resumes, because some intra-city commutes have become impossible, regardless of how motivated or strong-willed the candidate is. I’ve had to say no to a lot of good talent because of this issue
- A credit guarantee (perhaps backed by our GST receivables?) to banks so that access to working capital finance is possible without the need for collateral. Where do idea-driven businesses (as opposed to asset-driven businesses) go for collateral?
- Truly do something for the environment before it’s too late. Knee-jerk bans are not going to help. Put in place a science mission to scientifically and pragmatically tackle issues like plastics, urban pollution, habitat destruction and water resource depletion – these will take time to bear fruit but we have to start somewhere
Gaurav Chopra, Founder & CEO, IndiaLends
The Modi government being re-elected will bring about stability which is conducive to business as it will increase foreign fund flow in the country. We are positive that the government will continue its focus and provide support to the start-up and fin-tech ecosystem in the country.
Thanks to the overall Digital India program there have been innumerable benefits which have driven the digital economy and led to fin-tech growth. We are hoping more initiatives will be given impetus under the umbrella program of Digital India 2.0. We are also looking forward for a push towards financial inclusion and adoption of technology.
On the whole, we are confident that the elected government will undertake bold reforms and demonstrate concrete action to push investments, increase growth and create jobs.
Saurabh Arora, Founder & CEO, Lybrate
It is a massive victory for Prime Minister Narendra Modi. In the last 5 years, his regime successfully created a conducive atmosphere for start-ups, encouraging many to take calculated risks and tread the path of entrepreneurship. We hope in this tenure too, the Government will continue working in this direction to boost the entire startup ecosystem. Globally, India has gained the recognition of a start-up hub. And a lot of credit goes to the government for having in place start-up friendly policies and regulations that let them not only sustain themselves but also thrive. Now is the time, when those policies are strengthened as entrepreneurial ventures have the capacity to contribute a lot to the economy by way of job creation and employment. Government initiatives such as Make in India and Digital India too have played a pivotal part. We hope to see the wave getting stronger going forward.
Sanjay Lakhotia, Co-Founder, Noble House Consulting Pte
The Start up India initiative was great in intent but very poor in execution. The Government should identify the address the issues under the program and address them. This will enable people to reap the benefits of the policies and programs that were announced by the government in their previous term. One of the most important aspects that the government needs to address with respect to the startup sector is a reduction in interest rates. If we look at the case of any other country in the world, we will find that their interest rates are less than half or one-third of ours. Business credit has to be at par with international interest rates otherwise running businesses becomes very difficult. Skill development is another area which is very critical and should be a focus to help develop a more employable workforce. The Government needs to create a mechanism by which more people can be trained and re-trained to adapt to new skills. Today a lot of time is spent on training people rather than focussing on growing the market. Lastly, it is important that some of the tax laws relating to employee stock options, equity, valuations, the problem of angel tax are relooked and structured better.
Sharan Grandigae, Founder & CEO, Redd ExperienceDesign
While a lot of things have become better for startups over the past few years, I think a lot more work remains to be done. If India wants to compete with Silicon Valley or with Israel, we need to understand one truth about start-ups – that they don’t have a lot of time or resources at hand to do everything. The city of Shenzhen in China is equipped to allow a start-up to go from idea to production in 6 months’ time! For something like that to happen in India, we need some fundamental changes in our society. We need support from the government and other bodies involved in order to achieve this. If a start-up founder cannot simply go to a website and get their company registered and started and instead has to hire someone to help them navigate the various processes and steps involved in order to get started, we’ve already lost the initiative. There is a need to streamline the process to help reduce the compliance hurdles that startups currently face.
Rekuram Varadharaj, Co-Founder and COO, healthi
“To accelerate the growth in the startup domain, the Government of India must take measures such as easing the flow of capital, regulatory compliance and creating training hubs for entrepreneurs across India. The new government should focus on inclusive development and creating a supportive environment for entrepreneurs which will aid in more job creation and growth. Efforts need to be taken towards making health a pivotal aspect. Going beyond the existing National Health Programmes to create a comprehensive policy is the need of the hour.”
KNM Rao, Co-Founder & CEO, Quick Ride
Quick Ride extends its hearty congratulations to the new government 2019. We are positive that the government will continue executing its progressive policies and programs. Traffic is one such issue that certainly requires full attention from the government. Quick Ride is doing its part in decongesting the roads but we need support from the government. We expect the new government to look at carpooling as a service rather than leverage. For which proper definition of carpooling in the Motor Vehicle Act, 1988 is required. Players like us have witnessed tremendous growth in the last few years. We expect this to accelerate with additional support from the Government. The Centre can encourage State governments to formulate new policies and programs that will encourage the citizens to carpool. Quick Ride can also be a part of different fora of the government to encourage shared mobility across different geographies. We have already covered major metros and are now penetrating into Tier 2 cities, we expect the government to make carpooling a medium for last mile connectivity from different public transport mediums like metro stations, bus stands, etc. While futuristic mobility solutions for urban India are in the works, optimization of the current mode of transport via ride sharing is a small step towards the bigger dream of a green planet.
Kishan Jain, Director, Goldmedal Electricals
The rapid proliferation of new technologies such as internet of things, artificial intelligence, connected devices & home automation, have provided FMEG companies tremendous opportunities to grow, flourish and expand into newer industry segments. Additionally, the past few years have seen the Government of India having 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 adtech 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 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’.
Satyam Kumar, CEO & Co-Founder, LoanTap Financial Technologies
’Currently, a start-up needs to follow 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 consideration on hefty penalty in cases of non-compliance.
Expectation from Government is to make 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 Start-Up 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 start-up ecosystem wherein startups can collaborate seamlessly and share knowledge and technical expertise. This will help India to leverage it’s entrepreneurial potential and become a hotbed of unicorn start-ups across different sectors.
Vikas Oberoi, CMD, Oberoi Realty
It is a big win for democracy, and I am extremely glad that PM Modi who showed grit and determination in bringing about ground-breaking reforms and policy changes in every sphere, is back at the helm. The country has already gained from PM Modi’s ‘minimum government, maximum governance’ agenda. His earlier reforms like GST, RERA, insolvency code and all other similar initiatives have put the country on the growth path.With such an emphatic mandate, I believe that PM Modi and his team will go all out to build a stronger nation. Given the political stability and the fact that India is a growing market there will be no dearth of private investment for India Inc. from across the world. I wish him all the best in continuing to build the India of our dreams.
Dr Ranjit Nair (PhD AI), CEO and Founder of Germin8 Solutions
The BJP has been given a huge win by the people to take our country forward and should use this mandate to take steps that are in India’s long term strategic interest. This means bravely dealing with challenges that the country faces today like improving liquidity, job creation, education, health and pollution, but also making India competitive in the future by continuing with economic reforms and promoting entrepreneurship. The government should also invest heavily in the future in areas like nuclear and renewable energy, space technology and artificial intelligence. It is only through a mix of social and economic upliftment, combined with an eye on strategic thrust areas can India become future ready.
Erik Hon, Managing Director, iFAST Financial India
I wish that India would open up more to the world and let the man-in-the-street have access to more global investment opportunities, whether through mutual funds, ETFs or direct access to equities in the key exchanges such as the U.S., the U.K., and Hong Kong, and also make it easy for foreign retail investors, especially of non-Indian origin, to invest directly in Indian equities and bonds. I think that a unified or single regulator in the financial services industry can offer better protection of the consumers, with no regulatory arbitrage and a level playing field for all service providers. The man-in-the-street also deserves to get better, more qualified investment advice so that he can profit from India’s exciting growth over the next few decades. Overall, I believe that the average Indian can look forward to many exciting opportunities ahead, and I wish that they have every ability to take advantage of them.
[“source=businessworld”]
