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PM meets PE-VCs, talks on ease of biz, reforms

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NEW DELHI: Prime Minister Narendra Modi met high leaders from the non-public fairness and enterprise capitalist business on Friday to debate subjects resembling ease of doing enterprise, wonderful tuning reforms and attracting capital.
The interplay happened on the prime minister’s residence within the capital.
It was attended by a number of senior executives, together with Prashant Prakash from Accel, Rajan Anandan from Sequoia, Gopal Srinivasan from TVS Capitals, Renuka Ramnath from Multiples, Amit Dalmia from Blackstone and Munish Verma from SoftBank.
“In the event you return 10 years, we had no unicorns. This 12 months, on the finish of 2021, we could have over 70 unicorns. In reality this 12 months, now we have doubled the variety of unicorns,” stated Sequoia India’s MD Anandan. “Ten years in the past, we had lower than a billion {dollars} of funding going into startups yearly. This 12 months, we could have over $30 billion. And I credit score a big a part of it to the extraordinary focus that our PM and the federal government have had on startups. The actual startup India motion began accelerating in 2015.”
The attendees additionally talked in regards to the entrepreneurial potential of the nation, and the way it may be leveraged for Indian startups to realize world scale. Whereas Accel’s Prakash highlighted alternatives in agri startups, Anandan advised working in direction of making India the worldwide hub in schooling by leveraging know-how.
“The interplay that we had with the PM was wonderful as a result of the intent with which he was listening to each single enter and the advice from the folks within the assembly was very deliberate and was very clear {that a} massive change is coming in India,” stated Basic Atlantic’s MD and head of enterprise in India, Sandeep Naik.
India Resurgent’s Shantanu Nalavadi praised the reforms undertaken.

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