Introduce best business practices which can put Indian businesses on global map of innovation and disruptive growth: Expert
New Delhi, May 24 (KNN) After the thumping win of Bhartiya Janta Party (BJP) in the Lok Sabha polls this year, industry experts have raised their expectations from the Modi government and have suggested measures like improving access to finance for MSMEs and improving ease of doing business environment for them in the country.
Sharing the expectations of industries with KNN India, Cofounder & Chief Executive Officer of GlobalLinker, Sameer Vakil said “I would expect NDA-II to frame policies and drive programs to help Indian MSMEs and start-ups, take their rightful position in the global economy. The policies should encourage new age businesses to be set up and should remove business irritants.”
There should also be an improvement in access to financing and credit cycles for SMEs, he added.
Appreciating NDA’s work in the past for the growth of MSMEs, he said NDA-I had worked to address many fundamentals of the economy and business environment - introducing GST and rationalizing rate structures, demonetization, ease of doing business, the 59 minute elements amongst other matters.
Akshaara Lalwani, Founder & CEO, Communicate India, said, "I believe for the country to progress and become a superpower, change is imperative. While it might not be easy, it is much required. From the new government, I hope that they continue to encourage ease of business, and speed track opportunities, especially in the SME segment. I am also hopeful that the government will introduce best business practices which can put us on the global map of innovation and disruptive growth.”
She said, “I believe there are two gaps which need to be filled by the government, to future-proof our talent. Our education system needs an overhaul, as there exists a massive skill gap, which can be addressed through a more practical, modern education system. The healthcare sector too is one which needs a revolution, to make it accessible to everyone and address the divide between the private and public sector.”
“Furthermore, I believe that the government can do much to encourage women entrepreneurs, with tangible benefits. As risk takers, who inherently forge their path in what is considered to be a man’s world, and by gratifying their efforts, the government can encourage more women to take the plunge into entrepreneurship,” the expert suggested.
India definitely deserves its place on the world map, and I hope with the new government we are able to establish the same,” she said.