America
Modi's US visit can transform India by making it easier to do business'
By
Arun KumarWashington, Sep 25
Looking at the euphoria
surrounding Prime Minister Narendra Modi's visit to Silicon Valley,
analysts have suggested that it can indeed spark India's tech economy
provided he can make it easier to do business with his country.
"The
euphoria arises partly because Indians here are still optimistic that
Modi will transform India - after decades of economic stagnation under
socialist governments," writes Vivek Wadhwa, an Indian-American tech
entrepreneur turned academic.
"But his greater appeal to the tech
community is due to his being one of the world's few truly tech-savvy
leaders," he wrote in a column in the Washington Post
But the
CEOs of Microsoft, Google, Facebook, and Adobe who are lining up to meet
Modi "need to ensure that there be no regulatory roadblocks in India,
which will have a market twice as large as the US market", Wadhwa
writes.
"But my hope is that it goes beyond the star power and
that Modi gets to see the can-do attitude of Silicon Valley's
entrepreneurs," he said, taking note of exponentially advancing
technologies they are using.
Wadhwa cites several examples of what is possible for India - and what Modi needs to support.
These
include smart cities, sharing economy, health apps, devices, and
genomics, education, agriculture and turning children into innovators.
Hoping
"Modi will take back with him a grand vision of the future; an
understanding of what has become possible", Wadhwa said, "his challenge
is to inspire Indian entrepreneurs to achieve to the same degree as
their kin in Silicon Valley".
The Wall Street Journal said
Silicon Valley wants Modi to deliver on two of his government's
promises: making it easier to do business with India, and making the
country's taxes more transparent.
Investors, according to the
Journal, say that despite the rhetoric, investing in India remains
bureaucratic, weighed with paperwork and rules and regulations.
Investors also want more transparency and simplification in India's tax system, it said.
Some
investors, the Journal said, want "the government should create a more
conducive environment for entrepreneurs to set up business or create
products in India".
(Arun Kumar can be contacted at [email protected])