With Modi coming back, who is an ardent advocate of India becoming more digital, the country will surely see new policies come to light which will help India achieve that goal. India is sorely in need of a government that will support new technologies being introduced and will provide the back work for the tech giants to get their innovations off ground.
Narendra Modi’s government which is known for its pro-business image has helped lure foreign investors such as Amazon, Walmart, and Mastercard investing billions of dollars in investments which also leads to ramping up the hiring process. India is also the biggest market by users for companies like Facebook Inc, and its subsidiary WhatsApp. In 2017, the Modi government came under fire for formulating policies that appeared to favor patriotic fever ahead of the elections. Global firms remained concerned about the lack of policy stability and this message had the global investors worried. After Modi’s win, many foreign companies in India hoped the government will avoid sudden policy changes on investment and regulation which cost them dearly and urged the government for an industry-wide consultation that permits time to prepare. Prem Watsa, Chairman of Canadian diversified investment firm Fairfax Financial said, “Protectionism concerns are small hurdles you have to go through however, there will be more business-friendly policies and more private enterprises coming into India.”
This story is from the June 2019 edition of Enterprise IT World.
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This story is from the June 2019 edition of Enterprise IT World.
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