Wings of Hope

Expectations in the industry from the upcoming govt

As India inches towards forming a new govt, the industry leaders have expressed hopes from the upcoming govt. While a section in the country is in a state of shock to see these results, many of the industry leaders are euphoric that the unfinished

work of the previous govt can be finished now. On this occasion, many leaders have expressed their concern at the current state of things in the IT sector and have shown expectations that the new govt shall take India further ahead. Excerpts below “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.” — CP Gurnani, MD & CEO, Tech Mahindra

“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.” —Satyam Kumar, CEO & Co-Founder, LoanTap Financial Technologies “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.”

“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 start-ups.” — Jitendra Chaturvedi, Director & Co-Founder, Batooni Mobile Advertising “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.” — Kishan Jain, Director, Goldmedal Electricals “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 centres so that startups can focus more on innovation and less on processes. Thus, acting as a catalyst or emerging startups across sectors.” —Bhavin Turakhia, CEO, Zeta & Flock