“Indian Startups Required To Build Global Product Brands For Generating Substantial Forex Reserves For The Country”- Sumant Parimal

(MENAFN- Inno Gress) 25th May 2026, New Delhi

Recent appeal of Indian PM Modi to cut down on gold purchases, fuel consumptions, foreign travels and other import oriented commodities was primary positioned to conserve forex reserve of the country. Recently forex reserve of India also witnessed a decline by $7.7 Billion, standing at 690 Billion USD for the week ending May 1.

Commenting on these developments today at a Startup event organized by International Business Startup And Entrepreneurs Association (IBSEA) at IIT Delhi in New Delhi, Founder of Innogress and mentor of IBSEA’s startups Mr Sumant Parimal has highlighted importance of not only conserving the foreign exchange reserves but also highlighted importance of generating additional forex reserves and emphasized that Indian startups required to build global product brands for generating substantial forex reserves.

Speaking at The Directors & Mentors Conclave 2.0 of IBSEA Mr Sumant Parimal said “In response to the recent appeal of Prime Minister Modi to conserve forex by cutting down gold purchases, fuel consumption by adopting electric vehicles and public transport, I see three broad call for action cum opportunities for Indian startups which includes increasing forex reserves and trade surplus by building innovative global product brands particularly high value deep tech. products which can be as precious as gold in its economic values. Indian startups need to build hundred and thousands of Global brands through innovative products which increases exports earning in forex leading to higher forex reserves as well as trade surplus and going to be great opportunity for startups as well to globally market its products”.

“Call for using EV (Electric Vehicle) requires new innovations in charging infrastructure as charging thousands to millions of electric vehicles may requires augmenting power generation, transmission to distribution capacities. Our substations and transformers are mostly hitting capacity limitations in the peak summer, and may not be able to meet additional power capacities required for charging thousands to millions of electric vehicles until unless fresh power capacity and charging infrastructure augmentation happens. This opens additional opportunities for startups for developing and adopting sustainable charging infrastructure solutions” Sumant Parimal adds further.

Mr Sumant Parimal has hailed efforts of IBSEA in promoting and supporting entrepreneurs, startups and MSMEs through strategic mentoring and business ecosystem.

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