Quotes from industry leaders on formation of the new Union Government

Mr. Anku Jain, Managing Director, MediaTek India

“MediaTek extends the heartiest congratulations to the newly formed Shri Narendra Modi and looks forward to supporting their vision of a digitally advanced India. The government has proactively promoted the adoption of innovative technologies to create significant societal and economic impact. We believe MediaTek’s collaboration with Indian OEMs, and our continuous investment in R&D will lead to significant advancements. This, in turn, will strengthen economic growth and support government initiatives like India AI Mission, PLI Scheme, Digital India, and Make in India. India remains a key market for us, and MediaTek is committed to investing in local talent and scaling up our R&D capabilities to drive innovation for India and the global markets.”

Atul Arya, chief energy strategist at S&P Global Commodity Insights

“India’s rapid economic growth will be underpinned by a multidimensional energy transition — with strong demand growth for oil, gas and renewables. With this win, we can expect policy continuity. It will present new investment opportunities for both domestic and international investors.”

Mr. Agendra Kumar, Managing Director, Esri India

Agendra Kumar, Managing Director, Esri India

“Hearty congratulations to Shri Narendra Modi ji on winning the third term for NDA and returning as the prime minister. For the country, this continuity will promise stability, consistency, and effectiveness in governance, taking India closer to Vision@2047. Technological progress and innovation have been key areas of focus for Mr Modi. We can expect the use of satellite imaging, GIS, GeoAI and digital twins to support the developmental initiatives of the government for both, urban and rural economies.”

Lt. Gen. Dr. S.P. Kochhar, DG, COAI

Lt. Gen. Dr. S.P. Kochhar, Director General, COAI

“COAI welcomes the formation of the new government which will steer the next phase of growth and strengthen the continuity in policy and reforms. The previous government was instrumental in implementing critical structural reforms for the telecom Industry, a lifeline for the digital economy to function and grow. We look forward to working with the new government, alongside all our stakeholders, to fulfil our nation’s aspirations and work towards building a digital society that will pave the way for a developed Bharat.”

Dr. Nilanjan Banik, Economist, Mahindra University

Dr. Nilanjan Banik, Economist, Mahindra University

“The new government should aim to strike a delicate balance in resource allocation between urban India and rural Bharat. I anticipate a slight slowdown in capital expenditure and a potential increase in spending on agriculture and related sectors.”

Ms. Joyshree Das Verma, National President of FICCI FLO

Joyshree Das Verma, National President of FICCI FLO

“With a fresh mandate, the government is at the threshold of a transformative era, tasked with steering our nation toward progress and prosperity. We at FICCI FLO believe in the power of collaboration between the private sector and the government to drive sustainable development and create opportunities for all. Together, we can unlock the immense potential possessed by the country’s population. We fully align with the government’s vision for India’s development and its roadmap towards achieving a 5 trillion dollar economy by 2027-28, and women-led businesses can serve as a catalyst for the same. Through initiatives like STEP, Mahila Coir Yojana, and MSK, we’re committed to empowering women, fostering a thriving environment, and enhancing skilling efforts. We look forward to working hand in hand with the government to unleash innovation, improve competitiveness, and foster a thriving environment for women entrepreneurs in the country.”

A Gururaj, Managing Director, Optiemus Electronics

Gururaj, Managing Director, Optiemus Electronics

“The formation of the new government is indeed a very significant milestone for India as it brings continuance on focus on development. The previous tenure of this government has been specifically rewarding for the Indian electronics manufacturing industry. We witnessed some pathbreaking initiatives in the form of PLI, taxation benefits to boost indigenous manufacturing and development of the entire ecosystem of electronics manufacturing. All these initiatives led by the government and supported by the industry has worked well for the country and today India is poised towards India becoming a global manufacturing hub in the coming years. The push towards establishing manufacturing base for semiconductors is also a visionary effort which has the capability to encompass and support the entire electronics manufacturing eco system in India and we have already seen major global players in the process of establishing their facilities here which is significant. We share the vision of the government and will continue to work towards growing the electronics supply chain in India including design capabilities, a process which we have initiated in the  last few years to create a Atma Nirbhar Bharat in the coming years.”

Lt. Gen. AK Bhatt (retd.), Director General, Indian Space Association (ISpA)

Lt. Gen. AK Bhatt (Retd.)

“What happened in 2020 with the radical step by the government to enable private players participation in space industry was a steppingstone to embark upon India’s historic journey towards boosting the space economy. With the new government, the private industry in India is yet again excited with the prospects that the future holds for us as it will give a unique leverage to Indian startups and companies to innovate and excel in the emerging landscape of space. For the formation of a strong bedrock for India’s thriving space industry, initiatives like the new Space Policy, the setting up of IN-SPACe, and reforms like new FDI regulations have already given much needed kickstart to the industry. We really look forward to the continuity of policy reforms and further momentum towards ironing the remaining bottlenecks to enable the private space industry to take on more responsibility in building and supporting India’s contribution to the global space economy.”