India-US start-up SETU will help connect entrepreneurs and investors, says Piyush Goyal

Encouraging investments in India, the minister said that apart from getting a competitive place to do business, companies also get a large billion-plus market of ‘aspirational Indians’. Highlighting the huge market potential of the country, Goyal said there are benefits of economies of scale and the availability of a large talent pool.

Talking about the initiatives taken by the government to encourage investment in India, Goyal said the government would launch 5G services in October and gradually roll it out across the country. He said at present about 20,000 villages in remote areas of India have weak 4G connectivity. However, the government has sanctioned $2.5 billion to install 4G towers and systems in these areas. Simultaneously, the government was laying down fibre optics for broadband connectivity.

These initiatives by the government would open up more opportunities for investors from the US and the Bay Area in remoter parts of the country, Goyal said.

Goyal is on a six-day tour to the US for various programmes, which include the Indo-Pacific Economic Framework (IPEF) ministerial meeting and the India-US Strategic Partnership Forum conference.