Startups Await New Government Policies to Propel Growth

New Delhi, Jun 4 (KNN) Indian startups are eagerly anticipating the new government's policies aimed at addressing their specific needs and fostering an environment conducive for growth across the nation.

From bolstering the electric vehicle (EV) industry to supporting small-town entrepreneurs and ensuring financial market stability, startups have high expectations from the new administration.

Pratik Kamdar, CEO & Co-Founder of Neuron Energy, emphasises the need for the government to support the growing EV sector amid rising environmental concerns. "The new administration will need to focus on strengthening the industry," he says, reported BT.

Kamdar highlights the importance of domestic manufacturing to reduce dependency on imports and encourages initiatives like the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME II & III) scheme and the Production-Linked Incentives (PLI) scheme to promote local industry growth.

Hifza Afaq, co-founder & CTO of Kaarigar Mandi, an Agra-based startup, underscores the unique challenges faced by small-town entrepreneurs, including limited access to funding, investment opportunities, and inadequate infrastructure.

To support these entrepreneurs, she suggests the government create special schemes, establish startup incubators in smaller cities, and provide training, investment, and resources.

Darshil Shah, Founder and Director of TreadBinary, emphasizes the importance of privacy and data security, calling for regulations addressing the Digital Personal Data Protection Act (DPDPA) and amendments to IT rules to tackle issues like AI-driven misinformation and deep fakes.

He also highlights the need to promote innovation and enable Indian companies and startups to achieve global prominence.

As the new government takes charge, startups across India are hopeful that targeted policies and necessary resources will be provided to address their specific needs, allowing them to thrive and contribute to the nation's economic growth.

(KNN Bureau)