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India has opportunities galore amid current reset in global supply chain: Nirmala Sitharaman, Finance Minister, GoI

Oct 17, 2021

Indian Start-ups have grown tremendously; many are now raising money through capital markets

NEW DELHI/ NEW YORK, 17 October 2021: Ms Nirmala Sitharaman, Finance Minister, Government of India yesterday said that opportunities are galore in India for all investors and industry stakeholders with the current reset in the global supply chain and clear headed and committed leadership in the country.

She further said that India has fully leveraged the potential of digitization even during the most challenging times. "The role of technology in the financial sector is enabling pushing the frontier of financial inclusion and Fintechs are playing a key role in this area," she added.

Addressing the Global Business Leaders and Investors Roundtable organized by FICCI, jointly with US-India Strategic Partnership Forum, Ms Sitharaman while speaking on the potential of Start-ups said, "Start-ups in India have grown tremendously, and many are now raising money through capital markets. This year itself, more than 16 of them will qualify as unicorns."

The Finance Minister further stated that several reforms have been done by government to ease foreign investment in infrastructure including fiscal benefits.

Mr Rashesh Shah, Past President, FICCI said that there is tremendous focus on use of technology in improving transparency, democratizing opportunities, and reducing inefficiencies in the economy. "Our government has brought about transformative changes using the strength of digital technologies and this is propelling growth across sectors," he added.