Mumbai–State governments should try to replicate benefits offered by hubs like the Silicon Valley in the US to spur entrepreneurship, Tata Sons chairman emeritus Ratan Tata said on Monday.
“We need research centres to encourage youngsters to innovate, a venture-capital led financial environment to help entrepreneurs and industrial parks with benefits like those in Silicon Valley,” Tata said at a panel discussion on investing in Maharashtra at the ‘Make in India Week’ event here.
Lamenting that infrastructure in Maharashtra failed to keep pace with the growth, Tata said for him, infrastructure was both physical and growth enabling.
“Over the years, where Maharashtra has failed is its infrastructure has not kept pace with growth. What we lacked is thinking big in skilling innovation and infrastructure for the growth that we could achieve,” Tata said at the event, organised by the Confederation of Indian Industry (CII) and the state government.
“I will work with the industry to promote research and development in the state,” Chief Minister Devendra Fadnavis said on the occasion.
India Inc honchos such as Reliance Industries director Nikhil Meswani, Bharat Forge chairman Baba Kalyani, Sun Pharma managing director Dilip Shanghvi, Mahindra & Mahindra executive director Pawan Goenka and Raymond group chairman Gautam Singhania participated in the discussion.