Economy

P-E will play vital role in economic development, says Suresh Prabhu

KR Srivats New Delhi | Updated on March 07, 2019 Published on March 07, 2019

Commerce and Industry Minister Suresh Prabhu

Prabhu to dial in to global equity biggies to urge them to be a part of the Indian growth story.

India is next growth engine of world and the private equity industry is going to play an important and significant role in the development of its economy, Commerce, Industry and Aviation Minister Suresh Prabhu said.

Prabhu said that in the coming days, he would personally reach out to large equity players around the world to urge them to look at India more closely and ride the Indian growth story. He was speaking at the IVCA Conclave 2019 in the capital on Thursday.

Prabhu also said that he has advised the DPIIT Secretary to prepare a new matrix where there can be a “pleasure of doing business” and not only the “ease of doing business”.

He also said that a separate committee has been set up within the Commerce and Industry Ministry to make investments in India easier.

Prabhu said that start-ups are going to drive future growth and the Government was committed to support their growth.

Indian Private Equity and Venture Capital Association (IVCA) Chairman Padmanabh Sinha said that the annual private equity and venture capital flows into India are currently about $25-30 billion. He also said that IVCA is currently undertaking an exercise of assessing the jobs created by its portfolio companies.

Published on March 07, 2019
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