Goyal calls upon Indian Diaspora to convey to the world the tremendous business opportunities India with 1.3 billion aspirational market offers
Goyal calls upon Indian Diaspora to convey to the world the tremendous
business opportunities India with 1.3 billion aspirational market offers
You have kept the soul of India alive, Goyal
tells Indian Diaspora
International engagement needs to expand to provide more opportunities for our
Indian Startup ideas; no better place than Silicon Valley to go global: Goyal
Government of India is looking at every single opportunity to make a conducive
business environment: Goyal
Technology and transparency have transformed the way Government works in India:
Goyal
Launch of ‘Startup India’ in 2016, was a recognition of the growing
importance of innovation, of young talent coming up with new ideas, new solutions:
Goyal
The Minister of Commerce and Industry, Consumer Affairs, Food and Public
Distribution and Textiles, Piyush Goyal today said while the Indian Diaspora in
US has been very professional and innovative in their approach, they have
simultaneously maintained the strong connect with Indian culture and value
system, thus keeping the soul of India alive. He was speaking at the Luncheon
Engagement with ‘Indian diaspora’ at San Francisco.
Referring
to the unique positioning of the Indian Diaspora serving as the connect between
India and abroad, Goyal called upon them to convey to the world about the
tremendous business opportunities that India, a country of 1.3 billion
aspirational market, offers.
Highlighting
that India has a vibrant Start-up ecosystem today, Goyal recalled that when
Prime Minister of India Shri Narendra Modi launched the ‘Startup India’ in
2016, it was a recognition of the growing importance of innovation, of young
talent experimenting with new ideas, coming up with new solutions.
Observing
that a lot of the start up ideas that are developed in India have the cosy
comfort of a large domestic market and may not have engaged with the rest of
the world as much as they could, Goyal emphasised on the need to have more
opportunities for our Indian Startup ideas to reach out to the global
market and added that there can be no better place than Silicon Valley to go
global. Recognizing the need for international engagement to expand, Shri
Goyal noted that no country in the world has become a developed without
significantly expanding engagement with the rest of the world. We need to
engage with the world otherwise we will miss the bus, he added.
The
Minister said the Government is playing a role of facilitator between Indian
Start ups and Investors based in the US, and urged them to connect with each
other to take this dialogue to a new level. Goyal said he is taking back a few
ideas from investors here that will help to further speed up deployment of
capital encouraging new innovation in India.
Talking about
the transformation that has taken place in the way of functioning of the
Government of India, Goyal said we are trying to move away from red tapism,
which existed in the past. Old ways of working are giving way to technology and
transparency in a big way, bringing in honesty in the system, he added. The
Government of India is trying to look at every single opportunity to make a
conducive business environment. The approach of the government is based on more
proactive engagement with people on ground, bringing in greater degree of
policy certainty & predictability and making regulatory processes more
aligned to what is happening in developed economies.
Speaking
about the Government's focus on providing good infrastructure across India
especially remote and inaccessible areas, Goyal referred to the recent Cabinet
decision to provide network connectivity in the remaining 25000 remote
villages. On Exports, Goyal said, India achieved the highest ever Goods and
Services export of USD 675 billion last fiscal year, and added that this year
we hope to cross USD 750 billion.
The
Amrit Kaal till 2047 when we celebrate 100 years of India’s Independence, Goyal
said, is going to be the defining period of India’s journey towards becoming a
developed nation and bringing prosperity to every single person residing in
India. The Indian diaspora has a very important role to play in this journey
because they recognise talent, new ideas and innovation, guide and support and
finance them. Looking forward to continuous effort and engagement to bridge
India and the United States in terms of businesses and people to people
contact, he added.