Minister Goyal calls for higher domestic investor participation in startups
This story was originally published at 21:42 IST on 29 July 2026
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NEW DELHI – Commerce and Industry Minister Piyush Goyal Wednesday called for increased participation from Indian investors in the startup ecosystem. "We need Indian pools of capital. We need Indian investors to pick up our startup ecosystem, to adopt it," he said, delivering the Late Jehangir Ratanji Dadabhoy Tata Memorial Lecture in New Delhi.
Goyal said India's next phase of growth will be driven by research and development, technology, innovation, and entrepreneurship. "Ultimately, the success story will be written by globally competitive manufacturing, good manufacturing practices, high-quality output in everything we do," he said.
India's AI Mission has onboarded 38,000 graphics processing units to provide affordable computing capacity to startups and researchers, which will be expanded further. "The future of manufacturing cannot be just left to producing more. It will have to be producing smart. It will have to be producing globally competitive products at prices and quality which is accepted around the world," he said.
The minister also urged companies to actively leverage India's free trade agreements by taking them into boardrooms to study and leverage opportunities available under the pacts. "FTAs that cover 38 developed economies. Each one is a relatively rich, high-per-capita-income, prosperous economy. We barely compete with them — we complement them. Collectively, these countries represent a $60 trillion GDP," Goyal said.
He further added that Indian exports have stayed resilient despite ongoing global disruptions, including the Red Sea crisis and uncertainty around the Strait of Hormuz. "First quarter of FY27, war continues. Petrol, crude, gas, diesel, all have all faced uncertainty. Hormuz has been opening and closing through this period. Now we have the Red Sea crisis. It is only expanding," he said. "Despite that, our merchandise exports have grown by 15% so far in the current fiscal," Goyal said.
India's goods exports in Apr-Jun rose 15.9% on year to $129.32 billion. India exported goods worth $447.7 billion in FY26. End
US$1 = INR 95.65
Reported by Pratiksha
Edited by Saji George Titus
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