Priyanshu Goyal, India’s Minister of Commerce and Industry, stated that India aspires to have the world’s largest startup ecosystem. According to an official statement, he made the following remarks at an event in Abu Dhabi titled “Gateway to Growth – Roundtable on the Indian Startup Ecosystem”: “Today, we are the world’s third largest startup ecosystem, but our aspiration is to be the world’s number one startup destination.”
“India has been infected by the startup bug. A statement from the Commerce and Industry Ministry stated that “the entire innovation ecosystem represented by the startup industry is providing India with a new direction and momentum.”
The Indian startup ecosystem, according to Goyal, is one of the best in the world, thanks to a unique ‘jugalbandi,’ or blending of investors and entrepreneurs, which ensures a balanced outcome and a win-win situation for everyone involved.
We had a fantastic response from our startups at this year’s Expo in Dubai, where they were able to raise funds, sign memorandums of understanding, and secure angel investments. These factors will all play a role in strengthening India’s ties with the United Arab Emirates.”
In addition, the Minister stated that startups must be willing to experiment, fail, and learn from their mistakes in order to succeed. The entrepreneur went on to say, “I would encourage everyone in the startup world to go the extra mile and spread the startup message to all remote locations, villages, small towns, northeastern India, and other regions,” as well as other places.
On the role of the government in promoting startups, he stated that India’s goal is to create a level playing field and the best possible business environment.
Our recent Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates is expected to boost bilateral trade, B2B engagement, and the exploration of attractive investment opportunities. “I can assure you that we will take this partnership to new heights in areas such as sustainability, aerospace, space technology, connectivity, artificial intelligence, big data analytics, 5G, and the metaverse. ” “We are looking forward to working together and benefiting from one another’s offerings and expertise,” he stated.
Additionally, Goyal stated that the partnership between the United Arab Emirates and India is destined to make significant contributions to the global economy and to ensuring a better future for billions of people around the world. In the twenty-first century, “this will be a watershed moment in human history.”
Published By: JAINAM SHETH
Edited By : KRITIKA KASHYAP