Piyush Goyal says Indian AI firms not ready for IPOs
Business
India's Commerce Minister Piyush Goyal says local AI companies aren't quite ready to hit the stock market.
He points out that while tech stocks are huge in places like the US (where nine of the top 10 companies are tech giants), Indian firms still have some catching up to do (something also seen in countries like South Korea, Taiwan, and Japan).
Goyal: stable rupee could boost manufacturing
Goyal also mentioned that, with interest rates between the US and India getting closer, investment flows could shift.
He thinks a stable rupee might attract more money into manufacturing, since most foreign investment now goes into services and banking.
Plus, India and the US concluded their broad understanding in February, aimed at giving Indian exporters a better shot globally.