Union Commerce and Industry Minister Piyush Goyal while interacting with the business community of Southern California said that this is a golden time to invest in India. The Minister also invited all of them 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 events including the India-US Strategic Partnership Forum Summit and the Indo-Pacific Economic Framework (IPEF) Ministerial Meeting.
Minister Goyal told the business community, “India benefits from a demographic dividend. Our youth, the aspirational people we have in India, are the biggest opportunities and each and every one of them is connected to the world with access to the Internet.”
“As we begin our journey towards making India a developed nation, it is an important time for us to think about where we see India in the next 25 years. The next 25 years of Amrit Kaal, as PM Modi has said, will define India. The story of development.”
The Minister urged the community to gift Made in India products to handloom, handicrafts, Khadi made by artisans of India.
Speaking about his interactions with businessmen and investors from the Indian community in the US, the minister said that they have shared their experiences and made many suggestions which serve as food for thought. Piyush Goyal expressed confidence that he would be a stakeholder in India’s growth story with a sense of duty in giving back to his motherland. Diaspora members are usually very successful in their chosen profession. Each of them has left their mark in the society and economy of the United States, he said.
Responding to a query, the minister said there were several suggestions regarding some of the role that the government can play in connecting ideas and entrepreneurs from the US with stakeholders in India. The Minister pointed out that there are already two initiatives in India, Invest India which handles investors from all over the world and a very vibrant Start Up India team which supports start-ups in India, helping them to connect with investors in India and abroad. Helps to connect and set up incubators, accelerators. , training and skilling facilities.
Referring to the proposed restructuring of the commerce department, Piyush Goyal said that setting up of a trade promotion body similar to Invest India with some flavor of independence and autonomy was being considered. It will work as a facilitation unit that will promote trade from India, he said and added that together, these investment promotion and trade facilitation bodies will make a significant difference in the outreach that India is trying to do.
Stating that the start-up initiative he launched in Palo Alto-Cetu has tremendous potential, the minister expressed confidence that once the idea picks up steam in all sectors, it will certainly be a Tier 2 and 3 will also help us guide and support start-ups. in cities and remote areas. We have many young people with bright ideas on ways to make the life of the common man easier. I am sure this bridge will help entrepreneurs and ideas by connecting them with investors.
Earlier in the day, he visited Shri Swaminarayan Mandir 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 from Singularity University in San Francisco.
*With inputs from agencies
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