Growing at 9-10 pct challenge for India: Kant Niti Aayog CEO Amitabh

Growing at a 9-10 per cent rate in the next 30 years is a challenge for India which is expanding at 7.5 per cent per annum, Niti Aayog CEO Amitabh Kant said today. He was speaking at an event organised by Niti Aayog with French investors. On startups, he said, the country has created one of the finest startup ecosystems in the world and these ventures are doing extremely well here. "We are now seeing a reversal. Startups from Silicon Valley and Singapore are relocating to India," the NITI Aayog CEO said.

"Don't look at Europe, it's a very small market, don't waste your time in the US, look at India, it's a billion plus market," he added. Kant further said India is going through a demographic transition as 72 per cent of its population is young and the population will keep growing younger. Speaking at the event, Ambassador of France Alexandre Ziegler said, "Not only do we invest in India, not only do we Make in India, but we Innovate in India."

Additional Secretary in DIPP Atul Chaturvedi said the plethora of initiatives undertaken by the Government of India for improving the Ease of Doing Business in India. The event was attended by various investors from France including Safran Ventures, Eren Group, Luxury Tech, Fahsion Capital, Educlever, Olymp Capital, Affectio Familiae, Brands and beyond, Galileo Partners, Winevestworld, TNP, Claranova among others.

Four investor groups - Eren Group, Claranova, Olymp Capital and TNP - made announcements of setting up offices in India and commitments to invest in various sectors such as energy, aerospace, blockchain and Internet of Things.