Move over Bengaluru as Piyush Goyal wants new Silicon Valley in India: ‘We should aspire to go beyond’

Piyush Goyal proposed a new township dedicated to startups to create a Silicon Valley in India, covering 500 acres.

Commerce and industry minister Piyush Goyal proposed creating a new township which should be dedicated to startups with the aim to establish a new Silicon Valley in India. The plan involves developing a 500-acre area to support entrepreneurs and innovators and the National Industrial Corridor Development Corporation will oversee the project, the minister said.

Piyush Goyal proposed a new township for startups. He said that the National Industrial Corridor Development Corporation will oversee the project, fostering an ecosystem for entrepreneurs and innovators. (PTI)

“We should aspire to go beyond. We should aspire to have our own Silicon Valley… I know Bengaluru is the Silicon Valley of India, but it's time we started thinking about tying up with NICDC and creating a whole new township dedicated to entrepreneurs, startups, innovators, and disruptors,” Piyush Goyal said.

The National Industrial Corridor Development Corporation (NICDC) is responsible for implementing the National Industrial Corridor program to develop new industrial cities.

Piyush Goyal suggested that the new Silicon Valley could be built on a 500-acre area. He said, “Can we create a society, or a whole 200 or 100 or 500-acre area… and see if we can create such an ecosystem where incubators exist... or where someone from a very distant place with an idea but no connections can land… like people once used to go to Mumbai."

The minister also suggested that a non-profit entity, like Invest India, could be created to consolidate initiatives related to startups.