With the Budget 2016 round the corner, startups in India are holding the highest stakes following the Prime Minister Narendra Modi’s initiatives around ease of doing business and building a startup friendly ecosystem. Faster setting up of enterprises, correction to duty structures and streamlining of procurement processes are some of the areas where the industry expects key announcements.
The Industry is expecting a quick implementation of GST, streamlining processes for speedier implementation of large infrastructure projects. Development of infrastructure is a prerequisite for growth. Similar to road and rail, creation of Digital Highways is elementary providing high bandwidth network of Internet across India. We’d like to see avenues of PPP in the coming union budget which will give shape to Digital India.
Various skill development initiatives getting into mainstream operational mode is also on the wish-list. In this direction, Investments in terms of technology and infrastructure should be given more weightage when formulating schemes. The MSME industry is set to tap the potential of ‘Make in India’ initiative. This industry has potential to employee over 60 million people and will be a growth driver for the economy. Providing a special package for the MSME sector will help sustainable growth.
By Dinesh Agarwal, Founder and CEO, IndiaMART