New Delhi, June 9 (IANS): As Narendra Modi is set to take oath as Prime Minister on Sunday, the tech industry hailed his record third term, saying that this continuity will promise stability, consistency and effectiveness in governance, taking the country closer to 'Vision India@2047'.

Congratulating PM Modi on winning the Lok Sabha elections for the third time, Agendra Kumar, Managing Director, Esri India told IANS, with the new government "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".

"Technological progress and innovation have been key areas of focus for PM Modi," he added.

Paritosh Prajapati, CEO of telecom gear maker GX Group, said that under PM Modi's leadership India has witnessed major reforms in the last couple of years and the continuation of the new government will set those reforms into action.

Manufacturing has been a major sector where the automobile, electronics, and pharmaceutical sectors have been growing extremely fast.

"India as a stage now, we see a huge impact in the coming year and the ministry will drive it forward for new transformation and bring prosperity in every sector and every person in the country creating new opportunities, new jobs and new goals," Prajapati said.

In addition, Ritesh Malik, founder of Innov8 and a serial investor, said that in the last 10 years, the country has witnessed significant growth.

"In the next five years, our ecosystem, ease of doing business, Startup India, Make in India Mission, will keep on growing the economy of the country," Malik added.