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Invest in Indian start-ups, India urges Chinese firms

India asked Chinese firms to invest in start-ups and asked the Indians to look eastwards towards China not just for capital, but for innovation and experience-sharing.

business Updated: Nov 07, 2017 20:06 IST
Press Trust of India
Press Trust of India
Press Trust of India, Beijing
Start-up India Investment Seminar,Ease of Doing Business,World Bank
Participants at the Start-up India Investment Seminar organised by the Embassy of India in Beijing. (Photo: Indian embassy in Beijing’s Twitter account)

India sought investments on Tuesday from Chinese firms in start-ups, projecting the country as an “unrivalled economic opportunity” for them.

Around 20 Indian start-ups and over 100 Chinese investors took part in the Start-up India Investment Seminar organised by the Embassy of India in Beijing.

Addressing the event, Charge d’Affaires of India in China, Amit Narang highlighted the big jump of 30 places achieved by India in one year in theEase of Doing Business Ranking released by the World Bank recently.

He called on Chinese investors to look at India as an unrivalled economic opportunity and urged Indian start-ups to also look eastwards towards China not just for capital, but for innovation and experience-sharing to realise future

Young Indian entrepreneurs heading the start-ups also made a strong pitch for Chinese investments in their fledgling firms.

Speaking on ‘Why Invest in India’, Benny Chen, CEO, managing director India and Global Strategic Alliance, Ant Financial of Alibaba, said he remains bullish on the explosive growth in mobile and internet penetration in India and appraised the various initiatives taken by the government of India to stimulate faster growth.

During the meet, Mahendra Swarup, president of Start-up India Association, spoke about Chinese investments in Indian ventures and introduced the various start-ups from India that participated in the event.

Two panel discussions on Strategy for Investing in India- Experience Sharing by Successful Investors and Experience Sharing on the Scaling-Up of Chinese Ventures were organised as part of the event.

Chinese investors including Benny and Shirley Mao, vice director of Xiaomi Investment, and others took part in the event.

The event is expected to generate more in-depth B2B discussions among Indian start-ups and Chinese investors which will hopefully lead to productive business ventures and Chinese investments in Indian start-ups, a statement said.

First Published: Nov 07, 2017 19:55 IST