Prime Minister hosts roundtable interaction with representatives of Venture Capital and Private Equity Funds

Prime Minister hosts roundtable interaction with representatives of Venture Capital and Private Equity Funds

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Prime Minister Narendra Modi hosted a roundtable interaction with representatives of Venture Capital and Private Equity Funds at Lok Kalyan Marg in New Delhi today. During the interaction, Prime Minister sought suggestions towards improving the Ease of Doing Business in India, attracting more capital and furthering the reform process in the country. 

He appreciated the practical suggestions received from the representatives and said the government is committed to working to resolve the issues and challenges highlighted. Mr Modi also discussed the efforts undertaken by the government to bring in more reforms, the future potential of initiatives like PM Gati Shakti, and steps taken to reduce the unnecessary compliance burden. The Prime Minister also mentioned the innovation happening in India at the grassroots level and the boost to the startup ecosystem.

It has been the constant endeavour of the Prime Minister to boost the investment climate of the country. Over the past seven years, the government has undertaken multiple key initiatives in this regard. The discussion in the meeting happened on similar lines, while also illustrating how the Prime Minister is interacting personally with industry leaders to gather inputs ahead of the next budget.

During the interaction, the Venture Capital and Private Equity Fund representatives praised the Prime Minister for his leadership which has been a prime driving force behind the massive boost to the investment climate in the country. Praising the initiatives taken to boost the Startup ecosystem in the country, Mr Siddarth Pai from   3one4  termed the Prime Minister as the ‘Startup Prime Minister’.

The representatives also talked about the entrepreneurial potential of the country, and how it can be leveraged so that startups can attain global scale. Mr. Prashant Prakash highlighted the opportunities that are present in the Agri startups. Mr. Rajan Anandan from Sequoia suggested working towards making India the global hub in education by leveraging technology. Mr. Shantanu Nalavadi from  India Resurgent appreciated the reforms undertaken by the country in the last 7 years especially the step to set up the Insolvency and Bankruptcy Code. Mr. Amit Dalmia from Blackstone said that India is among the best performing geographies for the Blackstone funds globally. Mr. Vipul Roongta from HDFC  praised the policy initiatives that have been taken by the government, in the Housing sector especially in the Affordable housing segment. The representatives also discussed the opportunities that are emerging because of India’s exemplary climate commitments including the ones in the sphere of energy transitions. They also praised the Prime Minister’s vision of making India a 5 trillion economy.

Union Finance Minister Nirmala Sitharaman, Minister State for Finance, Officials of PMO and Finance Ministry were also present during the e interaction.