With the Narendra Modi-led NDA romping home with an increased majority in the Lok Sabha polls, India’s media and entertainment executives see the continuity in policy making as one of the greatest advantages.
“Any government which gets a second term and a vote of confidence from the general public also gets the opportunity to complete policies and development plans that it started in its first term. This in turn will give a good push to the economy leading to high consumer confidence as well as investor confidence,” said Bindu Balakrishnan, country head, DCMN India.
But, with such a mandate, they have also called for the government to continue promoting the adoption of technology by widening the Digital India initiative, lower and simplify taxes and implement long-awaited reforms in labour and land aquisition to boost the economy.
“Now that this government is back with a distinct mandate, my expectation is that a lot of reforms and changes that were pending including lowering of corporate tax rates, labour reforms and land reforms, hopefully they will be able to execute that rapidly..,” said Ashish Bhasin, CEO, chairman and CEO, Dentsu Aegis Network India, in a statement.
Others agree, adding that the establishment of a more business-friendly establishment would also serve to boost the sector. “... we are hopeful the newly appointed leadership will help establish a more favorable business environment that cements our country’s status as a global innovation hub,” said Prashan Agarwal, CEO, Gaana.
But, on top of the wishlist for most sector executives are measures to push rapid adoption of technology and digital literacy, especially since the digital entertainment segment has been growing at a break-neck pace.
“While a lot has already been achieved and much more needs to be achieved to make it a truly Digital India, in my opinion digital literacy in Indian languages should be the key area of focus. In order to digitally empower the citizens, especially women, in a true manner, the government should certainly invest more energy in integrating digital services in the day to day lives of citizens,” said Tarun Katial, CEO, ZEE5 India.