At present, domestic capital is lesser than 10 per cent of the overall available capital even in India even as more players come into the fray. How do you view this and how do you see this change in the future?
I am very optimistic about the medium to long-term vision for India. The country will develop to $5 trillion or $10 trillion, it is only a question of when. This will require new enterprises, especially large ones, to be created. They will start small, so we need a dynamic ecosystem for startups and entrepreneurship, all of which need investment.
Ideally, some of this must come from Indian entities so their ownership is Indian. When wealth is created from India's growth story, it must accumulate in India so it can circulate in our economy and not somewhere else. The reason for domestic capital coming into this growth opportunity is that it creates a positive virtuous cycle -- the wealth comes to India, gets accumulated and invested back here.
We are working with bodies such as the Confederation of Indian Industries and the Indian Venture Capitalists Association to drive this message to entities, individuals, family offices, domestic funds and Indian businesses for them to invest in the ecosystem so that we can create large enterprises over time that will boost the Indian economy.
This story is from the 30 July 2022 edition of Businessworld India.
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This story is from the 30 July 2022 edition of Businessworld India.
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