Goyal urges investors to focus on entrepreneurs in small cities, towns
- IBEF
- March 10, 2022
Mr Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India, urged investors to focus on entrepreneurs in small cities, foster innovation, and make domestic capital mobilisation easier. He believes that India's interiors have a big pool of talent and that venture capital firms should target tier 3-4 towns and cities.
"I suggest a 4-pronged focus from the industry. Urge investors and capital providers to focus on 4 Fs - fostering innovation and future tech, facilitate mobilisation of domestic capital, fast-tracking self-reliance, and focus on tier 2,3,4 cities and towns," he said while addressing the Indian Venture and Alternate Capital Association's (IVCA) Conclave. Domestic seed money would play an increasingly important role, he stressed and proposed collaborating with incubators that are springing up all around the country.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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