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Last Updated : Feb 01, 2019 02:21 PM IST | Source: Moneycontrol.com

Budget 2019: India is now the 2nd largest startup hub, says Piyush Goyal 

The startup ecosystem saw over $10.5 billion of venture capital investment in 2018 in India

Moneycontrol News @moneycontrolcom

India has become the world’s second largest startup hub, said Finance Minister Piyush Goyal while delivering his budget speech on February 1.

Stressing upon multiple government schemes such as MUDRA, Startup India and Standup India, Goyal said that these were helping the country in generating employment.

"India is amongst the most youthful nations in the world. Through Pradhan Mantri Kaushal Vikas Yojana, over 1 crore youth are being trained to help them earn a livelihood. Under Mudra Yojana 15.56 crore loans have been disbursed amounting to Rs 7,23,000 crore," he said.

"Now the employment generation is not confined merely to government services or factories. With job seekers becoming job creators. We are proud of the hard work and innovative ideas of our youth," he added.

The startup ecosystem saw over $10.5 billion of venture capital investment in 2018 in India.

The sector has also witnessed investments in Tier 2 cities because the ecosystem is maturing.

Given the growth opportunities, high net individuals are interested in investing in these startups.
First Published on Feb 1, 2019 02:21 pm
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