Union Minister Piyush Goyal has urged the Indian industry to support the startups, to take their growth to next level without resorting to dilution of their stakes to foreign companies
Union Minister of Commerce and Industry Shri Piyush Goyal has urged Indian industry leaders to support the startup ecosystem. “Startups are the backbone of new India, they are encouraging innovation and strengthening India’s entrepreneurship culture,” said Piyush Goyal while addressing FICCI’s annual convention & 93rd Annual General Meeting.
“Indian industry leaders should provide startups the financial support, handholding, opportunities and mentorship so that they can grow, without resorting to dilution of their stakes to foreign companies at very low valuations at the initial stage itself,” the minister added.
He also said that the scale of manufacturing, coupled with quality and productivity can truly make India competitive in numerous sectors. It will help us to move towards