Modi 3.0 Government: A Ray of Hope for Startups to Bootstrap & Brand Brilliance

After Narendra Modi’s oath taking ceremony the startups especially from MSME sectors of India are very much hopeful about their growth. Few manufacturers of MSME sectors expressed their gratitude towards the prime minister saying that, the MSME sector which was subsided few years ago got a new enthusiasm with all ‘vocal for local and make in India movements’. The NDA government pushed the growth of MSME sector by solving the credit gap issue which amounts to $530 billion dollar.

Startups are eagerly waiting about the new government policies, schemes, and fund which will shape up their future by addressing their unique requirements, such as strengthening the policy directions, better technology, research & development, and financial market stability. The entrepreneurs and investors are very much confident that, with targeted policies and addressing the loopholes of the economy, the government will weave a facilitative environment for the success of the valuable startups.

Modi 3.0: Highlighting the Credibility of Indian Startups

Few of the investors and venture capitalists are of opinion that, The BJP government led by Modi has uplifted India to become the third largest ecosystem across the world.

The Co-Founder and Director of Policy Ensure, Rahul Mishra is hopeful about the growth of insurance sector post-election. He expressed his optimism saying that, the changes in policy concerning digital enterprise and emerging technologies will heavily impact the insurance sector. More startups will join this sector leading to a vast competitive environment.

“A full majority for Modi 3.0 was crucial for maintaining start-up-friendly policies. His leadership is essential for initiatives like the National Deep Tech Policy to mature and for fintech founders to operate in a clearer regulatory environment, fostering innovation and growth”, - Ankit Kedia, Founder and Lead Investor at Capital-A.

The Co-Founder and CEO of Olyv (formerly SmartCoin), Rohit Garg mentioned that, during the last July, NDA government released a draft of the National Deep Tech Startup Policy (NDTSP), which focuses on the challenges faced by the deep tech startups. After the election, Deeptech sector will be the key focus of the government’s 100 day agenda. All the startups operating in the deep tech sector are hoping for crucial support towards potential innovation for deep-tech startups. The startup community is minutely looking forward to newly elected government's policy directions.

The key sectors which are expected to witness major growth in the post-election period are AI based digitization, green energy, climate tech, IT, fintech, agritech, and more. In next couple of years will be very much crucial for B2C, B2B sectors, and deep tech fields. Hopefully, the digital infrastructure of the country will be improved more. India holds the position of 3rd largest startup ecosystem withstanding at a position where policy continuity is vital for new-age businesses to evolve and compete globally.