Modi 3.0: Startups expect policy directions, financial market stability from NDA’s 100-day agenda

Startups in India are eagerly awaiting the new government's policies to address their unique requirements, such as strengthening the policy directions, better technology, research & development, and financial market stability. With targeted policies and essential resources, the government can foster an environment conducive to the growth and success of startups nationwide. 

Rahul Mishra, Co-founder and Director of Policy Ensure stated that the insurance sector anticipates a significant post-election shift that could redefine its trajectory. “We believe the insurance industry will sustain its quest to improve financial inclusion by reaching the general public, especially in tier 2 and 3 cities.”

“We also expect strengthened regulations to enhance customer protection. Furthermore, changes in policies concerning digital enterprise and emerging technologies may influence the insurance market post-election. The anticipated reduction in capital requirements may attract more companies to the insurance sector under a composite license regime, leading to increased competition and innovation,” he said. 

Continuing the trend of government policy over the past decade, the initial 100 days will likely focus on facilitating ease of doing business and digitalizing the economy, said TeamLease Regtech Director and Co-founder Sandeep Aggarwal. He noted that the interim budget had already given young entrepreneurs a peek into the development roadmap with ‘Viksit Bharat’. 

The Modi government should double down on technology, research & development, infrastructure development and financial assistance to support startups and MSMEs, he said, adding that the economic railway corridor programmes will increase connectivity and open up growth avenues. 

“The long-due labour reforms will further resolve the complexity around compliance and reduce the intricacies associated with formalisation for MSMEs. DPI has already made digital services affordable and accessible to the general populace,” the TeamLease Regtech co-founder said. 

As India processes a tighter-than-expected race to the Centre, the business community, particularly startups and entrepreneurs, looks forward to the newly elected government's policy directions, said Olyv CEO and Co-founder Rohit Garg. 

“Key expectations are around fast-tracking digitisation and providing robust support through tax incentives, subsidies, digital infrastructure improvements, and easier access to credit. As the world's third-largest startup ecosystem, India stands at a crucial juncture where policy continuity is vital for new-age businesses to thrive and compete globally,” he said. 

“The next five years will be pivotal for expanding opportunities in both B2C and B2B sectors and deep tech fields. Start-ups hope for substantial policies leveraging India’s strengths in demographics, digitalization, and AI to lead the nation toward unprecedented growth. Startups are also looking towards government initiatives that support the establishment of strong governance frameworks,” Garg added.