SME Times is powered by   
Search News
Just in:   • Coal production from India's commercial mines jumps 16.4 pc in April-June quarter  • India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri  • India's industrial production registers 1.2 per cent growth in May  • Govt committed to building safe and smart energy future: Minister  • Sanchez defends Spain's defence budget in response to Trump's threats 
Last updated: 16 Jan, 2021  

Innovation.9.Thmb.jpg 'India has potential to become most innovative nation'

Innovation.9.jpg
   Top Stories
» India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri
» India's industrial production registers 1.2 per cent growth in May
» Govt committed to building safe and smart energy future: Minister
» QCOs benefit MSMEs by enhancing product quality, consumer satisfaction: Piyush Goyal
» Stock market opens higher as Trump indicates ‘great’ trade deal with India
SME Times News Bureau | 16 Jan, 2021

On the day 1 of “Prarambh”, Startup India International Summit on January 15, 2021, Department for Promotion of Industry and Internal Trade (DPIIT) hosted a Roundtable meeting with Global Funds in New Delhi.

The roundtable received participation of around 70 Venture Capital (VC) fund investors from across the United States, Japan, Korea, Singapore, and some Global Funds domiciled in India. These funds have a total AUM to the north of $41 Bn in the Indian Region and Global AUM of more than $143 Bn.

The meeting was chaired by Shri Piyush Goyal, Minister of Commerce and Industry, and attended by Dr Guruprasad Mohapatra, Secretary, DPIIT, Shri Anil Agrawal, Joint Secretary, DPIIT and major Indian regulators, policy makers, along with Global VC Funds.

The intent of this roundtable was to listen to the concerns of Global Funds, share a progress report of the current Indian Startup-VC Ecosystem, and discuss ways ahead for Investing in India with an aim to mobilise Global Capital in Indian Innovations and promoting ease of doing business for global venture funds.

The Roundtable discussion covered topics like the growth potential of Indian startups, opportunities in the GIFT City and broad overview of the VC-Startup ecosystem.

The session also covered the top regulatory issues to be addressed with the Government of India. It was pointed out in the meeting that India has the third largest startup ecosystem in the world and the ecosystem has seen a dramatic transformation over the past decade.

There has been K-shaped recovery in second half of 2020 – with sectors like education, healthcare, ecommerce, food delivery having been positively impacted, while sectors like travel and hospitality were severely impacted.

It was mentioned by certain funds that India has the potential to become the most innovative nation on the planet in next 10-15 years. Some of the participants appreciated the Indian Government’s intent, speed, direction and action taken in promoting the Startup culture in the country, and providing a conducive environment.

A number of suggestions were also made by them, which they felt could further the investors’ sentiment in the sector.

Goyal said that the Government has already taken a number of steps to support the startups and would do so in the future also. He invited the VCs to provide support to the startups from the initial stage itself, which would embolden them to scale up, and diversify.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter