The commerce and industry ministry is organising a day-long startup India centre capital summit in Goa on Thursday with an aim to attract global capital into the country. In a statement, the ministry said that the theme of the summit is 'Mobilizing Global Capital for Innovation in India.'
"The event will showcase the Indian startup opportunity for funds from around the world. The summit aims to attract more global capital into the country," it said.
The event will enable a dialogue between government and experienced venture capital fund managers on ways to further promote the startup ecosystem in India.
It said that the focus of the summit is on the huge return-generating potential of India's vast and diverse market monetised through cutting-edge technologies and supported by investor-friendly regulations.
The key objectives will be to showcase the India opportunity, increase capital flow for Indian startups and further promote ease of doing business.
It added that over 150 participants are expected to attend.
It will bring together government officials, domestic and international startups, global fund managers and India's vibrant entrepreneurial community on one platform.
Participation is expected from around 100 funds from countries like the US, China, Japan, Hong Kong and Singapore.
India has the world's third-largest startup base with more than 14,000 recognised startups.More than 8,200 startups were recognised by the ministry in 2018 alone, leading to the creation of more than 89,000 new jobs this year, taking the total job creation contribution of recognised startups to 1,41,775.