New Delhi: As a preparation for next year’s budget collecting steam, Prime Minister Narendra Modi on Friday met by leading private equity / venture capital player to seek advice on making India more attractive investment destinations.
Prime Minister is looking for advice towards an increase in ease of doing business in India, attracting more capital and advancing the reform process in the country.
“He appreciated practical advice received from representatives and said the government was committed to working to solve problems and challenges highlighted,” said an official release.
During the meeting, Modi discussed the efforts made by the government to bring more reforms, potential initiatives in the future such as PM Gatihakti, and steps taken to reduce unnecessary compliance burden.
He also mentioned innovation that occurred in India at the grassroots and encouragement level to the startup ecosystem.
Minister of Finance Nirmala Sitharaman, who also participated in the meeting, will be available on February 1 for the next fiscal year which began on April 1, 2022.
Since ruling in 2014, the BJP government has launched a series of reforms has helped India climbing the ease of global .
Now encourage to make Indian Hub manufacturing.
The incentive scheme related to production for sectors of cars to semiconductors and solar has been announced to attract global producers to establish bases in the country.
This release further said venture capital and representatives of private equity funds also talked about the country’s entrepreneurship potential, and how it could be utilized so that Indian startup could reach a global scale.
After interaction, Verma Munish from Softbank said the investment climate in this country became much more positive.
This, he said, can be seen in the amount of capital that comes to India, entrepreneurs who are being made and the company registered.
“So, overall I thought it was a great interaction with the prime minister,” he said, adding that Modi gave some very good suggestions.
Sandeep rose from General Atlantic said such interactions inspired funds to bring more capital to India, and to reserve the country’s startup businessman.
“…
we plan to invest a few billion dollars in India.
We already have around $ 5 billion invested in India.
And I will not be surprised if in the next 10 years we invest around $ 10 to 15 billion in India, because of this .
is one of the most important goals for us globally, “said rising.
Praising initiatives taken to improve the startup ecosystem in the country, Siddarth Pai from 3One4 is called Modi as a ‘startup of the prime minister’.
Prakash Prashant Accel highlighted the opportunities present in the Agri startup room, while Rajan Anandan from Sequoia suggested making Indian global hubs in education by utilizing technology.
Vipul Roongta from HDFC said it was his first personal interaction with the Prime Minister and praised the policy initiatives that had been taken by the government in the housing sector, especially in affordable housing segments.
The release further said that Shantanu Nalavadi from India rose to praising reforms conducted by this country in the past 7 years, especially the steps to regulate bankruptcy and bankruptcy code (IBC).
Blackstone’s Amit Dalmia believes that India is one of the best performance geography for Blackstone funds globally.
“Representatives also discuss opportunities that arise because of climate commitments that are exemplary in India including those in the field of energy transition,” said the broadcast.
They also provide input about areas such as Fintech, Financial Management, and software as services (SaaS).
They also praised the vision of the prime minister to make India USD 5 trillion economy.
Others who are part of the interaction including the Srinivasan gopal from the TV capital, Renuka Ramnath from Multiple, Kejriawal Manish from Kedaara Capital, Ashley Menezes from Chrys, Vineet Rai from Avishkar, and Shweta Jalan from Advent.
Ankur Gupta from Brookfield, beat Arora from Elevation, Sehraj Singh from the prosus, Ranjit Shah from the capital, Sunil Goyal from Sinha Yoifest and Padmanabh from NIF also attended the Prime Minister’s meeting.
PMO officials and the Ministry of Finance are also present during interaction.