Union Minister of Commerce and Industry Piyush Goyal is on a six-day visit to San Francisco and Los Angeles. During this, he highlighted Prime Minister Narendra Modi's Startup India initiative and urged the Indian diaspora to increase their reach to global markets.
Speaking at a lunch engagement with 'Indiaspora', he said, when PM Modi launched the 'Startup India Initiative' in 2016, it was a recognition of the growing importance of innovation by young talent experimenting with new ideas, and creating new solutions. was coming with
He said that the diaspora has an important role to play in this journey as they identify and finance talent, new ideas, and innovation.
He added that India has a very vibrant startup ecosystem and a lot of the ideas that were developed in India feature a large domestic market and may not engage with the world as much as they could.
We need more opportunities for our Indian startup ideas. We need more opportunities for our Indian startup ideas to be able to reach global markets.
There can be no better place than Silicon Valley to go global in our thoughts. We believe that innovation and research and development will lead the way forward.
Goyal stressed that the Indian government also recognizes the need for international engagement for expansion and told the Indian diaspora, we are trying to bring together the capabilities and capabilities of offshore and India.
The Indian minister further said that it aims to move from policy paralysis to more active engagement with people on the ground, to make policy certainty and predictability more effective, and align regulatory processes with what is happening in more developed economies. to align.
Goyal said technology and transparency have taken over in a big way to bring integrity to the system in India and change the way government works.
He said the 'Amrit Kaal' by 2047 will be the defining period of India's journey towards becoming a developed nation and bringing prosperity to every person living in India.
Talking about interactions with the diaspora in the US, he said, “These kinds of engagements give rise to many new ideas and I am taking a lot with me from investors here that are encouraging innovations in India. This will help in expediting the deployment of capital.
The Indian diaspora has a unique position as the ties between India and abroad are strong.
We look forward to this continued effort and engagement to connect India and the United States in terms of trade and people-to-people contacts, Goyal said.
The Union Commerce and Industry Minister further said that he is taking back a large amount of new energy from his US visit.
It was heartening to see the bond of diaspora with the motherland and love for the country and its people, he said. The Indian community here, being very innovative and professional, has maintained the Indian culture and value system keeping the spirit of India alive.
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