Golden time to invest in India: Piyush Goyal tells business community in California
Premium- Piyush Goyal urged the community to gift Made in India products, to gift handlooms, handicrafts, khadi made by the artisans of India.
Union Minister for Commerce and Industry Piyush Goyal while interacting with the business community of Southern California said this is a golden time to invest in India. The minister also invited them all to be a part of India's journey towards becoming a developed nation. Minister Goyal is on a week-long visit to the US for various programmes including the India-US Strategic Partnership Forum conference and Indo-Pacific Economic Framework (IPEF) ministerial meeting.
"India has the advantage of demographic dividend. Our youth, the aspirational people we have in India is the biggest opportunity and each one of them is connected to the world with access to the Internet," minister Goyal told the business community.
"As we embark on our journey towards making India a developed nation, it is an important time for us to reflect on where we see India in the next 25 years. The next 25 years of Amrit Kaal, as PM Modi articulated, will define India's growth story."
The minister urged the community to gift Made in India products, to gift handlooms, handicrafts, khadi made by the artisans of India.
Speaking of the interactions he had in the US with business persons and investors from the Indian community, the Minister said that they had shared their experiences and given a lot of suggestions which served as food for thought. Piush Goyal expressed confidence that they would be stakeholders in India’s growth story with a sense of duty in giving back to their motherland. Members of the diaspora are generally very successful in their chosen profession. Each one of them have made a mark in the society and economy of the United States, he said.
Responding to a query, the minister said that there were a number of suggestions relating to some role that the government could play in connecting ideas and entrepreneurs from US to stakeholders in India. The Minister explained that India already had two initiatives, Invest India which handholds investors from around the world and a very vibrant Start Up India team which supports start-ups in India, helping them connect with investors in India and abroad and setting up incubators, accelerators, training and skilling facilities.
Referring to the proposed restructuring of the Department of Commerce, Piyush Goyal said that the setting up of a trade promotion body akin to Invest India with some flavours of independence and autonomy was being mulled over. It would serve as a facilitation unit that would promote trade from India, he said and added that together, these investment promotions and trade facilitation bodies would make a significant difference in the outreach India has been trying to do.
Pointing out that the start-up initiative he had launched in Palo Alto—SETU held tremendous potential, the Minister expressed confidence that once the idea gathered steam across sectors, it will definitely help us mentor and support start-ups even in tier 2 and 3 cities and remote areas. We have many young people with bright ideas on ways to make life easier for common man. I am sure this SETU will help them by connecting entrepreneurs and ideas with investors, he said.
Earlier in the day, he has visited Shree Swaminarayan temple in Los Angeles and interacted with the business community of southern California.
The Minister concluded his US visit with a meeting with Venture Capitalists and representatives of Singularity University in San Francisco.
*With inputs from agencies
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