India Must Create Its Own Patient Capital for Startup Growth: Commerce Minister Piyush Goyal

BENGALURU: India has the depth and savings to create its own pool of patient capital, commerce and industry ministerPiyush Goyalsaid on Friday, and called for greater use of domestic funds to accelerate the next phase of growth in the country’s startup ecosystem.“I asked my team to look at the regulatory framework so that long-term domestic funds—like pension and insurance—can participate in venture investments. We should not be overly dependent on foreign venture capital. India has the depth and savings to create its own pool of patient capital. The next decade will be about patient capital—investors who believe in India’s structural growth rather than chasing short-term returns,” he said at the eleventh edition of the ET Startup Awards 2025 held in Bengaluru on Friday.From Deep-Tech To Defence: Commerce Minister Piyush Goyal Urges End To India’s Foreign DependenceGoyal also emphasised the need for family offices to create larger pools of capital for startups and ensure that funds reach entrepreneurs even in smaller towns across India to strengthen the startup ecosystem. When asked about the FDI slowdown and whether the govt would revisit some norms to boost investments into India, Goyal said there is no slowdown, adding that recent figures show a significant uptick in FDI inflows.India, he said, continues to attract strong FDI inflows despite global uncertainties, with the world viewing the country as a “trusted partner and a stable investment destination.”He said investors appreciate India’s consistency in policy and the clarity of the economic direction . “We don’t make knee-jerk changes; we believe in stability and predictability,” Goyal said, adding that many global companies, now see India “not just as a market but as a manufacturing and innovation hub” and want to be part of the India growth story.Goyal also said India is in the final lap of negotiations with the US on the trade deal. “Wherever we get a good deal, a fair deal, an equitable deal, India will be ready to put a signature. We are at an advanced stage of discussions both with the European Union and the US.”