New Delhi, Jan 28 (KNN) Ahead of the union budget for the next fiscal year, the US venture capital firms investing in India are rooting for a supportive measures for the development of the startup ecosystem in the country.

For the financial year 2023-24, Union Finance Minister Nirmala Sitharaman is set to table the union budget before the Parliament on February 1, 2023.

The venture capitalist community here in the US is very excited given the large number of unicorns emerging out of India in recent years, reported ET.

The venture capitalists want to capitalise on Indian talent and invest in them, as per Arun Kumar, managing partner of Celesta Capital.

“As a US-based venture capital firm investing in India, we are keenly interested in policies and initiatives that will support the growth and development of the startup ecosystem in the country," Kumar told PTI. 

Kumar further stated that signals and allocations in the budget that further the growth of new ventures based on innovation and entrepreneurship would be particularly welcome.  (KNN Bureau)