Prime Minister Narendra Modi retained his position for the second consecutive term in the office after BJP (Bharatiya Janata Party)-led NDA (National Democratic Alliance) government got an overwhelming majority in the 17th Lok Sabha elections.
However, securing more than 300 seats, the NDA government’s massive triumph has uplifts the expectations of various sectors including the startup ecosystem.
Since, Modi-led BJP government announced to create a seed fund worth Rs 20,000 crore for the Indian startup ecosystem in its manifesto, the emerging entrepreneurs are eyeing for a simplified tax structure, improved bureaucracy and more state investment in startups, according to the Inc42 survey which sought the expectations of the startup ecosystem.
Also, the startups are expecting increased ease of doing business, the rise of fintech and more, the survey shows.
“India has once again given a clear mandate instead of a fractured one. It should bear fruit for us in the coming years. The Indian startups has prime optimism, trust and confidence in the re-elected NDA government,” said Siddhartha Gupta, CEO Mercer.
Startups have also called for better support from government’s Invest India and Startup India programmes. There are a slew of infrastructural and regulatory issues as well, which need to be addressed immediately.
“We are confident that with the visionary leadership coming back into power, India will stand tall in the world of deeptech innovation in areas like energy storage, energy efficiency, early disease detection, water and agritech, to name a few,”Anupam Jalote, CEO of International Centre for Entrepreneurship and Technology (iCreate) said.
Launching its election manifesto on April 8, the re-elected NDA government promised an investment of Rs 100 lakh crore in the infrastructure sector during the next five years along with facilitating the establishment of 50,000 new startups by 2024.
It further envisioned establishing India as a hub of financial services, as well as exploring ways to utilise deeptech for developing the agricultural sector.