Modi Cabinet that pertains to IT Industry in India

Election Results 2019: IT Industry Reacts to Narendra Modi Led BJP Receiving Massive Mandate

Election results 2019 are almost out, and the IT industry reactions to Narendra Modi receiving a massive mandate begin to pour in

Election results 2019 have almost been declared, and the country has taken a clear and undisputed decision. Prime Minister Narendra Modi led Bharatiya Janata Party (BJP) is all set to return for the second term with a massive mandate. With the election results expected to be declared in a short while now and counting in progress for just a few seats, the IT industry reactions have already began to pour in.

While most of the industry players are  lauding Prime Minister Narendra Modi, few of them are asking him to continue the novel initiatives such as Make in India and Digital India, and continue to create an ecosystem that helps the Startups of India. Here are some of the industry reactions on the election results 2019.

Narendra Modi to become most powerful leader – Anand Mahindra, Chairman, Mahindra Group

As I watch the counting,I get the unmistakeable feeling that a turning point in history is unfolding before my eyes. 2 new power blocs are overthrowing the establishment. Not talking about political parties but Women & Young,new voters. Increasingly, they will shape India’s future. Size of the country (Land mass+population) X Size of the Economy X Size of the election mandate = Leader’s Power Quotient. By the measure of this crude formula, Narendra Modi is about to become the most powerful, democratically elected leader in the world today.

Continue with Make in India – Juergen Hase, CEO, Unlimit

The Indian start-up sector has 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 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.

Mandate of the aspirations of India’s youth – Vineet Chaturvedi, Co-Founder, Edureka

These election results 2019 are a mandate of the aspirations of India’s youth and its young manpower and Technological progress is going to be the biggest asset for the country. We are confident that the current government will continue its progressive policies and by working closely with Industry and Training Organizations and we will have the talent to build the next Amazons, Alibabas and Facebooks of the world in India. We believe that the applications of the future will be made-in India and for India. The Indian economy is growing at a very fast pace and corporations of the world do not want to miss out on this opportunity. To provide them with a relevant workforce, we highly recommend Skilling Allowance for all tax paying individuals. Such a rebate that rewards continuous learning will go a long way to create a workforce that can make India a skill powerhouse.

Stable Government at Centre will help startups – Rashi Gupta, Co-founder & Chief Data Scientist, Rezo.AI

A stable government at the centre will ensure the successful and speedy implementation of more than 150 schemes and policies that the BJP government introduced for the startups. We applaud the NITI Aayog’s plan to create an institutional framework for artificial intelligence (AI) in the country. We look forward to the next 5 years of the new government and are positive that it will continue its focus and support to the startup ecosystem; especially to give a push to adoption of AI in India.”

Welcome BJP again as the Government of India – Neel Juriasingani, CEO & Co-founder, Datacultr

We welcome BJP again as the Government of India. In the past five years, the government has shown tremendous interest in the startup ecosystem of India and has made several policies to make it easier for entrepreneurs to launch new businesses and create jobs. Numerous startups have forayed into the various unexplored sectors and have given a new shape to the economy of India. Now, with BJP coming again, we foresee a multi-fold growth of the entire gamut of the startup network with all the stakeholders leveraging the change in the ecosystem. With the vision of moving towards Smart Cities, Fintech, AgriTech and Smart Industries, the government of India has been a great support for startups.

Government must encourage startups – Yogesh Bhatia, CEO at PreLoved Device

As a startup we are expecting a very smooth and feasible ecosystem from the coming government, so that startup like us run their business without any administrative obstacles and we welcome new government, on behalf of all startups industry.

Huge expectations with BJP coming back – Mr. Kartik Agarwal, CEO at Staunch

We welcome Modi government again, in last 5 years government has launched more than 150 schemes and policies for the startup community interest. Further pushing the Indian youth to look at start-ups as a viable career option, the government launched Fund of Funds worth INR 10,000 crore whereas NITI Aayog launched the Atal Innovation Mission to foster innovation among budding entrepreneurs at the grassroots level. Now, with BJP coming in power again, we have a huge expectations ranging from Clarity on angel tax to tax exemptions on ESOPS, easing active compliance norms and state level funding & infrastructure support.

Higher expectations from re-elected government – 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 Digital India etc. 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 MSME’s.

Next 5 years to bring immense opportunities – 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 start-ups 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 organisations 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.

Country now taking strides towards becoming fastest growing startup hub – 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’’

 

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