India’s aim is to become world’s largest Startup destination: Piyush Goyal

Union Minister of Commerce & Industry Piyush Goyal on Monday said that the country aspires to become the largest startup ecosystem in the world.

Addressing a session on ‘Gateway to Growth – Roundtable on Indian Startup Ecosystem’ in Abu Dhabi, UAE, Goyal said that the Startup industry represents innovation ecosystem which is giving a new direction to India.

Piyush Goyal said, “Today we are the third largest Startup ecosystem, but our aspiration is to be the world’s number one startup destination. The Startup bug has caught India’s imagination. The entire innovation ecosystem that the Startup industry represents is giving a new direction, new momentum to India.”

Goyal said, “India offers one of the best ecosystems for Startups with a special ‘jugalbandi’ or blend between investors and entrepreneurs to get a balanced outcome and achieve a win-win solution for all.”

The Minister appreciated the promotion of Indian Startups by the India Innovation Hub platform under the India Pavilion. “I do hope that the 700 Startups that have showcased their innovation at Expo2020 Dubai would have all gone back enriched with newer opportunities and ideas for the future,” added the Minister.

On the Government’s role in promoting Startups, the Minister said that India aims to provide a level playing field and the best business ecosystem to the Startups.

India has finalized the Comprehensive Economic Partnership Agreement (CEPA) with UAE to further enhance bilateral trade, B2B and to explore attractive investment opportunities.

“We have recently finalized the Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which is expected to further enhance bilateral trade, B2B engagement and explore attractive investment opportunities,” said Goyal.

Union Minister of Commerce & Industry Piyush Goyal further said, “I can assure you that we will take this partnership to newer heights in the areas of sustainability, aerospace, space technology, connectivity, AI, data analytics, 5G, Metaverse, etc. We look forward to leveraging each other’s offerings and expertise.”

Piyush Goyal said that the UAE-India partnership is destined to play an important role in the global economy and in ensuring a better future for billions of people around the world and said this will be a defining partnership for the 21st century.