“We need to increase domestic sources of capital for startups,” Kant wrote in a post on X.
According to him, currently 75 percent of the funds coming into Indian startups are from foreign funding.
“There is a large pool of funds domestically and a part of it should be channeled towards startups,” the G20 Sherpa said. Large institutions like insurance companies and pension funds should set aside a part of their investable surplus to invest in startups. Needed."
He also suggested that family businesses and offices could play the role of angel investors or provide seed funding.
"Increased Indian funding should give impetus to India's startup movement. With India's innovation and ingenuity at its core, the key lies in betting on itself," Kant said.
Meanwhile, Indian startups have raised nearly $7 billion in funding during the first half (H1) of 2024, up from $5.92 billion raised in H1 2023.
However, according to data compiled by TheKredible, the figures are still far less than $20 billion in the first half of 2022.
The $7 billion funding included 182 development or late-stage deals worth $5.4 billion and 404 early-stage deals worth $1.54 billion. According to Entrackr's report, around 99 deals were undisclosed.
According to him, currently 75 percent of the funds coming into Indian startups are from foreign funding.
“There is a large pool of funds domestically and a part of it should be channeled towards startups,” the G20 Sherpa said. Large institutions like insurance companies and pension funds should set aside a part of their investable surplus to invest in startups. Needed."
He also suggested that family businesses and offices could play the role of angel investors or provide seed funding.
"Increased Indian funding should give impetus to India's startup movement. With India's innovation and ingenuity at its core, the key lies in betting on itself," Kant said.
Meanwhile, Indian startups have raised nearly $7 billion in funding during the first half (H1) of 2024, up from $5.92 billion raised in H1 2023.
However, according to data compiled by TheKredible, the figures are still far less than $20 billion in the first half of 2022.
The $7 billion funding included 182 development or late-stage deals worth $5.4 billion and 404 early-stage deals worth $1.54 billion. According to Entrackr's report, around 99 deals were undisclosed.
