Shri Piyush Goyal interacts with Venture Capitalists in the San Francisco Bay Area

Shri Goyal also interacted with Mr. Bill McDermott, CEO of ServiceNow.

“As India kicks off Digital Techade, discuss how AI and machine learning are rapidly transforming the Software as a service (SaaS) market, accelerating India’s journey to becoming a 5 trillion economy,” the Minister tweeted.

The Minister spoke to the faculty and students of the Stanford Graduate School of Business earlier. He also attended an Indian community event hosted by the Consulate with TiE Silicon Valley, IIT Start-Ups, and the Indian Community Center.

Interacting with the media later in the day, Shri Goyal said that the Bay area is very big about the potential offered by India and Indian businesses and startups. They also see great potential in India’s huge market of 1.3 billion people, the Minister said.

He explained several steps taken by the government to improve mentorships, such as the Self Employment and Talent Utilization (SETU) scheme and other transformational and upskilling initiatives. Under the aegis of the Startup Advisory Council, the focus is placed on mentorship in tier 2 and 3 cities; added the Minister.

Referring to his meeting with the CEO of cyber security company Zscaler, the Minister said the world is grappling with challenges in the cyber security arena. He said the government is devoting a lot of effort towards securing India’s cyberspace and added that collaboration with cyber security companies in the bay area will bring faster success to the effort.

Responding to a query on semiconductor policy, Shri Goyal said that India had formulated a semiconductor policy many months ago, which offered very liberal incentives to companies to come and manufacture in India and -set up plants. We now have a good design ecosystem and some elements of the SC chain. We are in talks with many companies and some of them have shown strong interest in investing in India; he added. Shri Goyal assured us that India is very serious about promoting the domestic semiconductor industry.

Responding to questions, Shri Goyal also emphasized the need for Indian products, especially those under the One District One Program (ODOP) initiative, to be promoted globally. Considering our efforts to improve the packaging of ODOP products, the Minister said that institutions of repute like the National Institute of Design (NID), National Institute of Fashion Technology (NIFT), etc. are being deployed to improve the look and feel of the packaging. He added that ODOP manufacturers are being brought on board GeM free of cost and government bodies, cooperatives, etc. are encouraged to use ODOP products, especially for purposes such as gift giving.

Speaking about the possible synergies between ODOP and Open Network for Digital Commerce (ONDC), Shri Goyal said that ONDC will democratize the buyer-seller ecosystem and help expand the boundaries of ODOP. He added that efforts are being made to launch ONDC in one or two cities soon and added that all efforts are being made to ensure that ONDC will be a good offering to the public.

About the Post Author

Suman Munshi

Founder Editor of IBG NEWS (15/Mar/2012- 09/Aug/2018). Recipient of the Udar Akash Rokeya Shakhawat Hossain Award 2018. National Geographic & Canon Wild Clicks 2011 jury and winner of the public poll. Studied Post Graduate Advance Dip in Computer Sc., MBA IT,LIMS (USA & Australia), GxP(USA & UK),BA (Sociology) Dip in Journalism (Ireland), Diploma in Vedic Astrology, Numerology, Palmistry, Vastu Shastra & Si Feng Sui 25 years in digital and IT industry with Global MNCs worked and traveled to USA, UK, Europe, Singapore, Australia, Bangladesh and many other countries. Education and Training advance management and R&D Technology from India, USA, UK, Australia. Over 30 Certifications from global leaders in R&D and Education. Computer Science Teacher, IT & LIMS expert with a wide fan following in his community. General Secretary of the West Bengal State Committee of the All Indian Reporter’s Association