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As counting of votes enter the last lap emotions are running high with expectations and anticipation, here’s what the bigwigs of the various industries have to say
With elections results out and NDA all set to take the office with a thumping majority, the emotions of the country are all over the place.
As counting of votes enter the last lap emotions are running high with expectations and anticipation, here’s what the bigwigs of the various industries have to say.
Mayank Bhangadia CEO and co-founder, Roposo, anticipates the new government to take forward the Digital India campaign. “We need more such initiatives from the new government, to take the country forward. From ‘Make in India’, which promoted manufacturing in India, we need to shift to ‘Made in India’, where we boost indigenous companies. It would help put India on the map as the top net exporter,” Bhangadia said.
Identity and digital solution provider Veri5Digital’s CEO Saru Tumuluri anticipates a boost in the Financial Inclusion and Fintech sector. “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 on boarding & digital products (KYC, eSign, eNACH).”
Dinesh Agarwal, managing director, IndiaMART InterMesh, expects the new government to perform a balancing act between fiscal prudence and growth enabling measures. “With a strong mandate in place, we expect the new government to perform a balancing act between fiscal prudence and growth enabling measures. The new government must concentrate on speeding up economic reforms, creating a positive environment for sustained foreign investment and boosting spends on public infrastructure for overall development,” he said.
The apparel bigwigs expect the new government to bring in new reforms and put in measures to develop skilled labour.
According Gautam Hari Singhania, CMD, Raymond Ltd, “In a decade of consumption led growth ahead for our young country, this mandate should usher in a new era of industrial growth and policy reforms, including a significant fillip to the manufacturing sector.”
Nikhil Mohan, founder and director, Blackberrys Menswear urges the new government to help in developing skilled labour. “When we count on the 5 years of performance of the government, retail sector has witnessed significant growth. However, the gap between demand and availability of skilled labour in retail industry still remains huge. To further accelerate growth of the industry, the new government must put in place measures such as skill based programmes to develop skilled labour. We sincerely hope the new government generates enough confidence in the garment industry and entrepreneurs to invest in areas where there is high population density but infrastructure is weak and policies are uncertain. This will help retail businesses to expand their manufacturing units, creating more jobs and boosting the economy.”
However, there is a host of mixed opinions from the start-up ecosystem. While some expect major changes to follow, others foresee no change. “We appreciate the tech, start-up and reform-oriented thinking by the current government. Initiatives like demonetisation, GST and UPI payment ecosystem are excellent examples set by the government for building a thriving digital economy that is positively impacting SMEs and retailer community in India. We expect the decisions and policies from the newly elected government to further strengthen the grassroots retail and small merchant ecosystem in the country,” Anshoo Sharma, co-founder and CEO, magicpin said.
Speaking on the occasion, Saahil Goel, CEO and co-founder, Shiprocket said, “the positive effect is definitely stability that results in more money being pumped into Indian markets in general. On the downside, I’m not expecting any policies from this government that will actually make any significant positive difference on the ground level for start ups. We hope that for start-ups this government will give more incentives to the new businesses either in the way of tax incentives or business support. Start-ups will be the new sector of tomorrow and it is important to nurture it today for generating superior employment in the country.”
Meanwhile, Armand Poonawala, founder and CEO, @, expects the situation for start-ups to remain at status quo. “The positive effect is definitely stability that results in more money being pumped into Indian markets in general. On the downside, I’m not expecting any policies from this government that will actually make any significant positive difference on the ground level for start-ups.”