Despite COVID-19 affecting the global business world, Indian startups have received FDI (Foreign Direct Investment) of more than $20 billion amid the corona crisis.
Acknowledging this unprecedented achievement, a Top VC hailing from Silicon Valley said the next 10 years will be India’s golden moment in key sectors, including Finance, Technology, Pharmaceutical, and E-commerce.
Talking about the future of India, M. R. Rangaswami, Silicon Valley top venture capitalist, said,
“I think the next 10 years is the golden moment for India to shine; using digital and technology — whether it’s medicine, telemedicine, e-commerce, logistics — in every segment of the market. Whether it’s a Kirana (local grocery) shop, everything is going to be digital. It is the golden moment that India should seize.”
The big chunk of $20 Billion FDI came from tech giants. Companies like Amazon, Facebook, Walmart, Microsoft are continuously investing in India as they know the potential of the Indian market.
Being a keen observer of the Indian market, M. R. Rangaswami also said the entire business ecosystem is adopting new technologies like never before.
Rangaswami also added that to keep this a win-win situation for all parties involved, India needs to iron out all the barriers to businesses immediately.
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