New Delhi: Trade and Minister of Industry Pyush Goyal on Saturday suggested that Indian companies can make an initial investment in startups planted at home to help maintain Indian talents and ideas in the country, while also improving themselves to increase.
The minister said several Startup India had seen foreign investors enter early and came out after sweeping back with the founders just holding a small pole.
“It will also benefit Indian entrepreneurs to access capital,” he said.
The statement, during the interaction with TOI on Saturday, came in the middle of controversy over his comments in CII Conclary earlier this week.
Asked about his comments on this problem at the event, the Minister said: “I can only appeal.
Who are I to ask them to do something?” His comments at the CII meeting came in on a response to the advice of Banmali Agrawala, President for Infrastructure and Defense & Aerospace Tata Sons, and trigger a line with many who interpret it as reflecting faltering disorders.
Tatas is one of the most valued groups and they have a big role to play in the development of the country, “said Minister when asked about it.
Goyal also explained that the Ministry of Consumer Affairs, who recently released the draft guidelines for consumer protection for e-commerce , will conduct consultations with Indian players and funded abroad.
“These rules for all players.
Concerns of everyone will be taken on board.
The government has an open mind of this issue and this effort is to balance consumer interests and small retailers, ensuring that consumers get the best agreement, “he said.
At the same time, he said, investors need to follow the law in the letter and the Spirit, the problem has been marked by him To industry players after several “structured transactions” especially in the e-commerce room, where FDI is permitted in the business-to-business wholesale trade segment.
“My door is always open to anyone to come and meet,” said Goyal, added That he was scheduled to meet with representatives from Tata Group.
The minister also said the decision of the Tata Group to invest in the semi-conductor business was a big step.
“Semi-conductor plays an important role in the car and electronic industry and the entry into the segment will send a very signal strong, “he said.
Pointing on signs of pickup in economic activities, he men Express investment in sectors such as steel, where some players have announced expansion, as well as in the segment where production-related incentives have been announced, are increasing.
He said vaccination is very important and the corporate sector can help reach the northeast and countries such as Bihar and Uttar Pradesh, in addition to employee inoculation.
He also said he had reached large business houses to complete contributions to micro, small and medium enterprises (MSMEs) within seven days of large businesses can access funds with a lower level.