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Saturday, December 3, 2022

Minister: India aims to become world’s largest startup ecosystem

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Indian minister Piyush Goyal has just spoken at a session ‘Gateway to Growth – Roundtable on Indian Startup Ecosystem’ in the UAE.  The minister said India aims to become the largest startup ecosystem in the world.

India has emerged as the world’s third-biggest startup ecosystem, with the goal of becoming the world’s largest, according to Union Commerce and Industry Minister Piyush Goyal on Monday.

Speaking at the UAE-India Start-up Forum 2022 in Abu Dhabi, the minister said, “Over 92 Unicorns have achieved exceptional success, making every Indian proud of their efforts.

We now have the world’s third-largest startup environment, but our goal is to become the top startup destination in the world.”

I’ve witnessed a wonderful response from the Dubai Expo, where our firms were able to collect funds, sign memorandums of understanding, and receive angel investments. Goyal expects all of these factors to contribute to India’s friendly relationship with the United Arab Emirates.

The minister praised the India Innovation Hub platform’s support of Indian startups as part of the India Pavilion.

“I hope that the 700 startups that showed their ingenuity at Expo2020 Dubai came away with newer opportunities and ideas for the future.”

Goyal advised investors in the United Arab Emirates (UAE) to invest in Indian start-ups while speaking at the ‘Gateway to Growth — Roundtable on Indian Startup Ecosystem’ session in Abu Dhabi.

Ahmad Belhoul Al Falasi, UAE Minister of State for Entrepreneurship and SMEs, co-chaired the session (virtual).

According to Goyal, India and the UAE are not competitors, but rather complement each other.

He said, ” India and the UAE recently completed the Comprehensive Economic Cooperation Agreement (CEPA). and I envisage our collaboration ushering in a new era in trade and services.”

Concerning the government’s involvement in fostering startups, the minister stated that India seeks to offer start-ups with a level playing field and the finest business ecosystem possible.

I can assure you that we will push our relationship to new heights in sectors such as sustainability, aerospace, space technology, connectivity, artificial intelligence, data analytics, 5G, Metaverse, and so on.

According to Goyal, the UAE-India collaboration is destined to play a significant role in the global economy and in providing a better future for billions of people worldwide.

He said, “I am convinced that India and the UAE’s partnership, particularly in emerging technologies, will take on new dimensions as we move forward.”

He expressed hope that the 700 start-ups that showcased their ideas at the Dubai Expo left with new chances for the future.

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