Partnership With Diaspora To Make India Developed: Goyal

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By: TNI Team | New Delhi
Updated: September 13, 2022 10:07
Union commerce and industry minister Piyush Goyal interacting with investors in the US.


The partnership between India and its diaspora all over the world will truly help us fast-track the country’s journey to being a developed nation, said Union commerce minister Piyush Goyal in Los Angeles, US.

On the last day of his visit, Goyal held interactions with businessmen and investors from the Indian community. He called upon the Indian community to be part of India’s growth story with a sense of duty in giving back to their motherland.


“Members of the diaspora are generally very successful in their chosen profession. Each one of them has made a mark in the society and economy of the United States,” he said.

Responding to a query on the role that the Indian government could play in connecting ideas and entrepreneurs from the US to stakeholders in India, the minister informed that India already had two initiatives – Invest India and Startup India.

While Invest India handholds investors from around the world, the Start Up India team supports start-ups in India, helping them connect with investors in the country and abroad and setting up incubators, accelerators, training and skilling facilities.

Referring to the proposed restructuring of the Department of Commerce, Goyal said that the Modi government is mulling over constituting a trade promotion body akin to Invest India with some flavours of independence and autonomy.

“It would serve as a facilitation unit which would promote trade from India. Together, these investment promotion and trade facilitation bodies would make a significant difference in the outreach India has been trying to do,” the minister added.

Earlier, he launched SETU start-up initiative in Palo Alto to help the government connect entrepreneurs and ideas with investors. “Once the idea gathers steam across sectors, it will definitely help us mentor and support start-ups even in tier 2 and 3 cities and remote areas,” he said.

The minister concluded his US visit with a meeting with venture capitalists and representatives of Singularity University in San Francisco.



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