Amidst the ongoing crisis induced by the outbreak of COVID 19 Virus, the Indian Economy is expected to see enormous growth according to a top venture capitalist of silicon valley.
In the next 10 years, key sectors like E-commerce, Pharmaceutical, technology are going to see unprecedented growth and these years will be the ‘Golden Moment’ for these sectors, top capitalist said in an interview indicating towards USD billion foreign direct investment in the country during coronavirus pandemic.
Silicon Valley’s capitalist, entrepreneur, and philanthropist, M R Rangaswami in an interview with PTI said, “Coronavirus is sweeping the world especially the US and India. In spite of that, the amount of investment going into India is mind=bloggling”
In recent months after the outbreak of Covid-19 that impacted business across the world and claimed 6 lakhs lives so far, India has received a foreign direct investment of more than 20 billion USD.
A large share of investment came from the world’s top IT companies. IT includes 10 billion from Google, USD 5.7 Billion from Facebook, USD 1.2 Billion from Walmart, and USD 1 billion from Foxconn.
Referring to these prominent investments, Rangaswami informed that “I think the next 10 years is the golden moment for India to shine; using digital and technology, whether it’s medicine, telemedicine, e-commerce, logistics, In every segment of the market. Whether it’s local grocery shop everything is going to be digital, It is the golden moment that India should seize”.
“There will be many, many more deals this year. You’ll see a lot more companies coming in, a lot more money coming in. A lot more investment” he further added.
While major companies are eyeing on the Indian market and looking for an opportunity to invest, Mr. Rangaswami, considers that leaders and bureaucrats should take a charge now and lead it to success.
Gracia is a senior writer at Get Ignite, where she covers media and advertising and co-hosts the Original Content podcast. Previously, she worked as a tech writer at Adweek, a senior editor at the tech blog VentureBeat, and a local government reporter at the Hollister Free Lance. She attended Stanford University and now lives in Brooklyn.