Union Minister for Commerce & Industry, Piyush Goyal said that Bay Area is very bullish about the potential that India and Indian businesses and startups have to offer. They also see great potential in India’s huge market of 1.3 billion people, the Minister said after interacting with the Venture Capitalists in San Francisco Bay Area.
About the meeting he said, “Held an engaging interaction with venture capitalists in San Francisco Bay Area. Encouraged them for deeper engagements & greater partnerships with the vibrant Indian startup ecosystem." He also encouraged them to consider mentorship of early-stage Indian startups to help them scale and succeed.
Goyal also met with the CEO of Zscaler, Jay Chaudhry in San Francisco today. “As India continues to grow in the digital space, discussed ways to further expand cyber security in the country to ensure a safer and securer Digital India”, the Minister tweeted
Goyal also interacted with Bill McDermott, CEO of ServiceNow and discussed how AI and machine learning is rapidly transforming the Software as a service (SaaS) market, and accelerating India’s journey to become a 5 trillion economy.
On semiconductor policy, Goyal said that India had come up with a semiconductor policy many months ago, which offered very liberal incentives to companies to come and manufacture in India and set up plants. We already have a good ecosystem in design and several elements of the SC chain. We are in dialogue with many companies and several of them have showed keen interest in investing in India, he added. Shri Goyal assured that India was very serious about promoting domestic semiconductor industry.
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