While chairing the 4th Roundtable with Global Venture Capital Funds, organised by the Department for Promotion of Industry and Internal Trade (DPIIT), Piyush Goyal, Union Minister of Commerce and Industry, invited the VCs to explore new sectors for investing in ventures at Tier 2 and 3 cities. The government has already taken several steps to support the Startups.
India is home to over 61,000 recognised Startups across 55 industries, with 45 per cent of them emerging from Tier 2 and 3 cities. Around 45% of them have at least one woman director, a testimony of diversity, spread and inclusivity of the Indian Startup ecosystem. The government has undertaken 49 regulatory reforms to enhance Ease Of Doing Business, Ease Of Raising Capital and Reduce the Compliance Burden.
Over 75 VC fund investors from across the United States, Japan, Korea, Singapore, and some Global Funds domiciled in India participated in the deliberations. These funds have a total Assets Under Management (AUM) of more than $30 billion in the Indian region. This roundtable intended to share a progress report of the current Indian Startup-VC Ecosystem, insights on impact investing, India’s global outlook and the opportunities and interventions for the way ahead of VC investments in India.
