The Indian economy has continuously recorded high growth rates and become an attractive destination for investments, according to Ms Pratibha Patil, the Indian President. "Today India is among the most attractive destinations globally, for investments and business and FDI had increased over the last few years," said Ms Patil.
The wealth of high net worth individuals (HNIs) in India, is set to grow by a compounded annual growth rate (CAGR) of 23 per cent over the next four years and will touch a whopping figure of Rs 249 trillion (US$ 4.43 trillion), highlighted a report by Karvy Private Wealth, the wealth management arm of the financial services firm Karvy Group.
Moreover, India continued its ascent as a top destination for private clean energy investment, according to a research report released by The Pew Charitable Trusts. "Clean energy investment, excluding research and development, has grown by 600 per cent since 2004," according to Phyllis Cuttino, Director, Pew's Clean Energy Program. India's 'National Solar Mission,' with a goal to have 20 gigawatt (GW) of solar power installed by 2020, helped drive the seven-fold jump in solar energy investments to US$ 4.2 billion, the report said. India now has 22.4 GW of installed clean energy generating capacity.
In addition, a study has pegged Indian potential for wind energy at 3,000 GW. It claims that the potential for wind energy utilisation with the prevalent technologies is far in excess of earlier estimates by Center for Wind Energy Technology (CWET). The Centre estimated Indian wind energy potential at 49,000 MW and increased to 100 GW subsequently.
With a goal to connect entrepreneurs with investors, a group of angel investors, including Rajan Anandan, Managing Director, Google India, has come together to launch an online platform, VentureFund.com, with an initial corpus of US$ 100 million. The platform aims to connect entrepreneurs of early stage companies with qualified investors from around the world. Though the platform would be free for investors, entrepreneurs would have to pay a one-time fee of around US$ 100 after being contacted by a prospective investor. "With over 100 million start-ups coming up every year worldwide, this market is very fragmented. But, most of these start-ups look for mentoring and funding. We wanted to create a platform for both entrepreneurs and investors," said Ashok Kurien, Director in the boards of Zee TV, Sun TV and Playwin.