Summary:

Union Minister Piyush Goyal believes that the number of registered startups in India will reach one million over the next decade, driven by government initiatives promoting entrepreneurship. From just 450 in 2016, the figure has risen to 1,57,000. The Startup India initiative, launched in 2016, fosters innovation and a dynamic startup ecosystem. Programs such as the Fund of Funds for Startups, the Startup India Seed Fund Scheme, and the Credit Guarantee Scheme provide financial support across industries and business stages.

He emphasized the growing opportunities for Israeli investments in India, leveraging its massive 1.4 billion consumer base. Speaking at the India-Israel Business Forum, he discussed strengthening trade and technological partnerships. A high-level Israeli delegation, led by Economy Minister Nir M. Barkat, explored investment opportunities in technology, manufacturing, healthcare, and defense. Despite a trade slowdown in 2023-24, Israeli investments in India have grown, particularly in renewable energy, water technology, and defense, while Indian companies have expanded into Israel’s pharmaceutical, IT, and infrastructure sectors.

Source: IBEF

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