Corporate India's Reaction on Modi's Comeback
CP Gurnani, MD & CEO, Tech Mahindra
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.
Ankur Pahwa, Partner & National Leader - e-Commerce and Consumer Internet, EY India
As the new government steps-in, among key policy interventions, the e-Commerce policy needs some urgent attention as it can propel investments, job and wealth creation to boost overall economic growth. The colour of money differentiation needs a re-examination, wherein more emphasis should be given in governing the sector than focusing on foreign vs. domestic capital segregation. The need of the hour is an equalized policy treatment for both foreign and domestically funded e-Commerce companies, consistency in the approach governing both online and offline retail players, and a well-rounded data policy in-line with global standards that takes into account consent, privacy, protection, ownership, access and usage of data for both individuals and companies. The e-Commerce policy also needs to take into account the view of impacted stakeholders and provide sufficient runway for implementation. Furthermore, incentives to companies exploring "deep-tech" such as AI, ML, IoT, etc., will bring in more efficiencies in the system and ultimately improving customer experiences.
Rajiv Singh, CEO Stock Broking, Karvy
With a clear mandate, the new government has scope to tackle significant and long pending reforms in the areas of land, labour. This should improve the ease of doing business in India. In addition, we expect the government to continue to focus on infrastructure, fiscal consolidation and financial inclusion. With this the long term growth prospects of the economy should improve, but additionally should unleash animal spirits among investors. Equity markets should perform well over the next five years, Indian households who have been historically underinvested in equities should allocate more of their household wealth to equities to take advantage of the changed landscape.
Shailendra Jain, Global Group President, Steelbird Helmets
FDI would be more consistent and it will increase investment and pace of economic growth. It will help to restart pending economic programmes that were left to hang in the wake of the elections. Also very much bullish about the country's medium-to-long-term growth prospects. Hopeful about ease of doing business will improve overall business scenario with upcoming stable government. Expecting world-class infrastructure for sustaining growth in all the sectors of the economy. Moving to favourable and easy policies will help boost in export business and same time will bring more and more foreign currencies. Simplifying procedures and relaxing entry barriers for business activities will encourage people to for new start ups. We hope that the new government demonstrates concrete action to push investments, increase growth and generate employment. Furthermore, we are expecting the upcoming government will make the GST NIL on the helmets and even the input credit should be granted to the helmet manufacturers, leading to low cost of ISI Mark helmets for the consumers and millions of lives can be saved.