Many Silicon Valley start-ups managed by Indians

INDIAN Finance Minister Nirmala Sitharaman has said that around 25 percent of all start-ups in Silicon Valley are managed by ‘people of Indian origin.'

She was speaking during the 10th convocation of the Indian Institute of Information Technology Design and Manufacturing at Kancheepuram, Tamil Nadu on Saturday (10).

Sitharaman underlined that India's higher education has contributed to the best of company executives globally.

‘I want to underline the fact it is this India's higher education which has contributed to the best of company executives. Globally, 58 top-notch company CEOs are Indian in origin and India-education and they are in 11 such companies that are multinational, whose collective revenue is over 1 trillion and 4 trillion in turnover,' a statement quoted Sitharaman as saying.

Further, speaking about India's startup success, she encouraged the students to become entrepreneurs.

India now has 100 unicorns and their market value are $250 bn and they have collectively raised $63bn from the market, the minister said.