BlackBerry India Managing Director Sunil Lalvani said the new government's success will depend on stable and progressive regulatory regime, friendly investment environment, complete policy clarity and inclusive innovations.

"A stable regulatory regime that addresses friendly taxation regime, rational fees and clarity around spectrum charges and trading, reviewing and laying a strong foundation for mergers and acquisitions will be vital for the growth of this sector," he added.

The new government must take steps to drive adoption of data security on mobile devices, particularly in sectors related to finance, healthcare, etc, Lalvani said.

IT hardware industry body MAIT has asked the government for exemption of Special Additional Duty (SAD) on components used by manufacturers.

It has also suggested extended concessional excise duty, similar to mobile handset manufacturing, to boost production of PCs and tablets.

Nasscom, the body representing the $118 billion IT-BPO industry in India, said the government should work towards addressing the challenges of negative list like taxation of testing services and transactions between head office and branch office.

Nasscom has also urged the government to renegotiate tax treaties, ensure cross border transfer pricing adjustments, introduce consolidated income tax filing for Indian MNCs for easing compliance for the industry and government, revisit notified safe harbours and clarify to bring in certainty in transfer pricing assessments.

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