Bay Areas is very bullish about potential of India, Indian businesses and startups: Minister Piyush Goyal

India is very serious about promoting domestic semiconductor industry: Goyal  
Minister calls for partnerships with cyber security companies to further strengthen and secure India’s cyberspace  
Goyal meets with CEO of Zscaler in San Francisco  
Interacts with Bill McDermott, CEO of ServiceNow

San Francisco: Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal interacted with the Venture Capitalists in San Francisco Bay Area during his recent visit.

“Held an engaging interaction with venture capitalists in the San Francisco Bay Area. Encouraged them for deeper engagements & greater partnerships with the vibrant Indian startup ecosystem,” the Minister tweeted about the meeting. He also encouraged them to consider mentorship of early-stage Indian startups to help them scale and succeed.

Goyal also met with the CEO of Zscaler, Jay Chaudhry in San Francisco.

“As India continues to grow in the digital space, discussed ways to further expand cyber security in the country to ensure a safer and securer Digital India,” the Minister tweeted.

Goyal also interacted with Bill McDermott, CEO of ServiceNow.

“As India ushers in Digital Techade, discussed how AI & machine learning is rapidly transforming the Software as a service (SaaS) market, accelerating India’s journey to become a 5 trillion economy,” the Minister tweeted.

The Minister had addressed the faculty and students of Stanford Graduate School of Business earlier in the day. He also attended an Indian community event hosted by the Consulate in association with TiE Silicon Valley, IIT StartUps and Indian Community Center.

Interacting with the media later in the day, Goyal said that the Bay area is very bullish about the potential that India and Indian businesses and startups have to offer. They also see great potential in India’s huge market of 1.3 billion people, the Minister said.

He elaborated upon the several steps taken by the government to improve mentorship such as the Self Employment and Talent Utilization (SETU) scheme and such other transformational and upskilling initiatives. Under the aegis of the Startup Advisory Council, focus is being placed on mentorship in tier 2 and 3 cities, Goyal added.

Referring to his meeting with the CEO of cyber security company Zscaler, Goyal said that the world has been grappling with challenges in the arena of cyber security. He said that the government had been devoting considerable efforts towards securing India’s cyberspace and added that partnerships with cyber security companies in the Bay Area would bring faster success in the endeavor.

Responding to a query on semiconductor policy, Goyal said that India had come up with a semiconductor policy many months ago, which offered very liberal incentives to companies to come and manufacture in India and set up plants. Goyal assured that India was very serious about promoting the domestic semiconductor industry.

In response to queries, Goyal also highlighted the need for Indian products, especially those under the One District One Program (ODOP) initiative to be promoted all over the world.

Image courtesy of (Image courtesy: PIB)

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