PANJIM: IT Minister Rohan Khaunte on Friday said that the government’s vision is to make Goa a top start-up and IT destination in Asia by 2025.
The minister was addressing “Global Venture Capital Summit” in Goa on Friday which is attended by more than 100 investors from across the globe who are interested in financing the Start-Ups.
“There is a massive thrust on facilitating entrepreneurship and enterprise to nurture growth, and create value and jobs,” Khaunte said at the summit.
Union Commerce Minister Suresh Prabhu said that in the next few years time, there would be a phenomenal growth in every sector in India.
“If you do the global assessment, there is no market that is as exciting as India. The worst is over and the best is yet to come. This is a new phase in India’s growth story,” Prabhu told the investors inviting them to participate in this growth story.
Pointing out to the historic drive of infrastructure creation in the country under Narendra Modi-led government, Prabhu said that the need for creating infrastructure in the country is large.
“The Union government has to invest something like more than 10 per cent of the GDP on the infrastructure year after year. That is because we failed to do it in the past,” he said indirectly blaming the former Congress-led governments at the centre.
Prabhu, who was also Union railway minister, said that in the railway sector, the entire investment was running into hundreds of billions of dollar.
“We created, for the first time, five year plan of 144 billion dollar investment. There was phenomenal change in the infrastructure after that,” he claimed.
On aviation sector, Prabhu said, “We have created 100 airports and we will add 100 airports in next ten years time with the investment of 65 billion dollars.”
Prabhu said that when he was Union power minister, the country was facing power deficit and questions were being asked how India would become powerful without power.
“We made one law and that law brought in 250 billion dollar of investment in a matter of more than a decade. Today, India from being power deficient country is a power surplus country,” he said.
Making a case for the funders to invest in India, Prabhu said usually the funds are invested where the returns are highest.
“Where will you get the highest return? You will get it where there is entrepreneurship. India is one country, where almost everybody, is an entrepreneur,” he said.
The minister pointed out that the farmers in India are all in the private sector and they are taking risk of magnitude that is unimaginable. “In India, you will see entrepreneurship in abundance at every level,” he commented.
“Therefore, India is a market which is evolving to be perfect, which has entrepreneurs, and there is opportunities that the country will grow at phenomenal rate,” he said.
Prabhu said an Indian knows his market better, its risk better and he knows exactly how to go around it.
“In other market, while there is 2-3 per cent growth for the start-ups, India clocks double digit growth,” he added.
Prabhu said that the opportunities provided by India are “unimaginable.”
