
RBI Governor Sanjay Malhotra on mindset of Indian youth towards MNC jobs vs entrepreneurship: ‘When I left college…'
Reserve Bank of India (RBI) Governor Sanjay Malhotra has highlighted the shifting mindset of the country's youth, calling it 'remarkable' that graduates now prefer entrepreneurship to jobs in multinational companies.
'When I left college, getting a job in a MNC was the preferred choice. None took up the challenge of starting a venture of his own,' Sanjay Malhotra said, while speaking at the US-India Economic Forum in Washington DC.
'In recent years, however, a large number of engineering and management graduates are taking to entrepreneurship and startups. It is encouraging to note that India is fast becoming a nation of job creators rather than job seekers.' he added.
As per Sanjay Malhotra, this growing culture of enterpreneurship has helped build a 'strong startup ecosystem' in India, ANI reported.
He noted that the country has 1,50,000 recognised startups, the third largest number of unicorns in the world, and has climbed up the ranks of the Global Innovation Index to 39th position in 2024, from 81 — in fact among middle-income countries, India ranks first.
Sanjay Malhotra also noted that these startups receive support from the government through initiatives like Atal Innovation Mission, Digital India and Startup India, it added.
He also said that government reforms have led to massive savings, and listed the following as triumphs: Digitalisation of various government programmes like public distribution scheme with Aadhaar has resulted in huge savings.
Just in time flow of funds to state government has helped the Centre improve its cash flow management.
Initiatives such as the Direct Benefit Transfer (DBT) significantly improved government spending efficiency, with savings around $40 billion till March 2023.
The US-India Economic Forum is organised by the Confederation of Indian Industry (CII) and the US-India Strategic Partnership Forum (USISPF).
Key Takeaways The mindset of Indian youth is shifting from seeking MNC jobs to pursuing entrepreneurship.
India boasts around 150,000 recognized start-ups, aided by government initiatives.
India's global ranking in the Innovation Index has significantly improved, highlighting its growing entrepreneurial ecosystem.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
34 minutes ago
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Thursday — 12 June 2025
Stock Market Today: The benchmark Nifty-50 index ended a volatile trading session 0.15% higher at 25,141.40. The Bank Nifty slipped 0.3% to 56,459.75 as most other sectors, led by FMCG, ended lower. IT, Auto, Pharma were among the few that bucked the trend. In the broader markets, Mid and small-caps also ended around half a per cent lower. Crucial support for Nifty-50 Index is placed at 24,850. As long as the index holds above this level, the trend is likely to remain positive, with potential to move towards 25,350 in the short term, Rupak De, Senior Technical Analyst at LKP Securities. For Bank Nifty immediate support is seen at 55,400 as per Bajaj Broking. Profit booking continues in the broader markets, driven by elevated domestic valuations. However, large-cap resilience is supporting the indices, with institutional investors favoring companies with stable earnings outlooks. The Auto and IT sectors remain in focus—Auto stocks are gaining on improved monthly sales, while IT are benefiting from optimism around a potential US-China trade resolution, said Vinod Nair, Head of Research, Geojit Investments Limited. Meanwhile, following the recent rally, the market lacks clear direction as investors await key macroeconomic data and updates on trade negotiations, added Nair. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks. These Include Aries Agro Ltd, Blue Jet Healthcare Ltd , PB Fintech Ltd, PNB Housing Finance Ltd, National Aluminium Company Ltd, Waaree Energies Ltd , Prince Pipes and Fittings Ltd and TD Power Systems Ltd. Aries Agro Ltd- Bagadia recommends buying ARIES at around ₹ 334.2 keeping Stoploss at ₹ 320 for a target price of ₹ 355 ARIES is currently trading at the levels of 334.2, the stock is in a bullish trend on the daily chart, having formed a well-defined cup and handle pattern, which is typically recognized as a bullish continuation structure. The breakout above the neckline of the pattern suggests renewed buying interest and potential for upward expansion. This pattern reflects a period of accumulation followed by a slight consolidation before the breakout. 2. Blue Jet Healthcare Ltd- Bagadia recommends buying BLUEJET at ₹ 963.15 keeping Stoploss at ₹ 925 for a target price of ₹ 1035. BLUEJET is currently trading in the levels of 963.15, the stock is in a strong uptrend on the daily chart, having recently broken out from a consolidation phase. The stock had earlier faced a slight correction from its all-time high levels but has since resumed upward momentum with strong bullish candles. This recovery indicates renewed buying interest and strength in the trend. The breakout is supported by increased volume activity, confirming buyer participation. 3. PB Fintech Ltd- Dongre recommends buying PB Fintech or POLICYBZR at around ₹ 1887 keeping Stoploss at ₹ 1857 for a target price of ₹ 1950 In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1887 and holding above a key support level at ₹ 1857. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1857 to manage downside risk. The target for this trade is set at ₹ 1950, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 4. PNB Housing Finance Ltd - Dongre recommends buying PNB Housing Finance or PNBHOUSING at around ₹ 1121 keeping Stoploss at ₹ 1100 for a target of ₹ 1170. Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1121 and maintaining a strong support at ₹ 1100. The technical setup indicates the potential for a price retracement towards the ₹ 1170 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 1100 offers a prudent approach to capturing the anticipated upside. 5. National Aluminium Company Ltd- Dongre recommends buying National Aluminium Company or NATIONALUM at around ₹ 190 keeping Stoploss at ₹ 184 for target price of ₹ 198. Stock is currently trading at ₹ 190 and appears to be in bullish zone for short term. A bullish reversal pattern has emerged on the daily chart, indicating a potential upmove. The critical support level lies at ₹ 198, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 198 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound. 6. Waaree Energies Ltd- Koothupalakkal recommends buying WAAREE ENERGIES at around ₹ 2884 for a Target of ₹ 3020 keeping Stop loss at ₹ 2830. The stock has indicated a series of higher bottom formation on the daily chart with bias improving and with decent volume participation visible, we expect for further rise in the coming sessions. The RSI is well placed and has signaled a buy with much upside potential movement anticipated and with the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 3020 level keeping the stop loss of ₹ 2830 level. 7. Prince Pipes and Fittings Ltd - Koothupalakkal recommends buying PRINCE PIPES at around ₹ 360.75 for a target price of ₹ 380 keeping Stop loss at ₹ 353. The stock has indicated a strong bullish candle on the daily chart with huge volume participation visible to strengthen the trend and can anticipate for further rise in the coming days. The stock has gained momentum and with the RSI maintaining the strong undertone, can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of ₹ 380 keeping the stop loss of ₹ 353 level. 8. TD Power Systems Ltd - Koothupalakkal recommends buying TD POWER SYSTEM at around ₹ 511.50 for a Target price of ₹ 534 keeping Stop loss at ₹ 500. The stock has gained strength with series of higher bottom formation visible on the daily chart and with currently having a bullish candle pattern accompanied by decent volume participation, we can expect for further upward movement in the coming days to gain further. The RSI has corrected from the highly overbought zone and is well placed with strength indicated to carry on with the positive move. With the chart looking good, we suggest buying the stock for an upside target of ₹ 534 . Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.


Time of India
an hour ago
- Time of India
Indian firms target overseas assets to fast-track semiconductor ambitions
Strategic overseas acquisitions by India's nascent semiconductor companies are set to emerge as a key enabler for the country's ambitions in chip manufacturing and assembly, ensuring access to proprietary expertise, precision equipment, and critical intellectual property, experts told ET. Indian firms including Tata Electronics and L&T Semiconductor Technologies (LTSCT) have recently made significant moves to acquire foreign assets even as they invest in greenfield facilities within the country. These acquisitions bring experienced engineering teams and operational know-how, which are essential for upskilling local workforces and establishing robust training pipelines, explained Kunal Chaudhary, partner and co-leader, inbound investment group, at EY India. LTSCT and Kaynes Semicon are jointly acquiring the power modules business of Fujitsu General Electronics, based in Japan, while opto-semiconductor maker Polymatech last year acquired US-based semiconductor equipment provider Nisene Technology Group to build an integrated chip manufacturing business. Tata Electronics is exploring takeovers of semiconductor fabrication and outsourced semiconductor assembly and test (OSAT) facilities in Malaysia. Chaudhary said while India has already built a strong presence in chip design, moving into OSAT — a high-margin segment that includes advanced packaging and assembly — will be key to climbing the value chain. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories With advanced packaging technologies becoming critical to semiconductor innovation, India's entry into this space could enhance its global positioning, he said. After Kaynes and LTSCT announced acquisition of Fujitsu General's power modules business for Rs 118.34 crore on Monday, Kaynes CEO Raghu Panicker said the deal opens up new avenues for advanced semiconductor packaging excellence. 'This move strengthens Kaynes' OSAT capabilities, while aligning with our long-term strategy of supporting global original equipment manufacturers through best-in-class technology and scalable infrastructure,' he told ET. Kaynes is one of the four companies under the India Semiconductor Mission 1.0 building OSATs in the country, while Larsen & Toubro has invested more than $300 million to create its fabless chip company LTSCT. ET on June 3 reported that Tata Electronics is in talks with several global semiconductor companies to acquire a fabrication or OSAT plant in Malaysia. The move is aimed at bolstering the Tata Group company's knowledge and talent base ahead of its ambitious foray into semiconductor fab, assembly and packaging in India. 'Most acquisitions and partnerships at the moment are really about two things: gaining access to trained talent – essentially acqui-hires – and jump-starting work on cutting-edge technologies,' said Prithvideep Singh, general manager at Mohali-based Continental Device India Ltd (CDIL) that has a partnership with German semiconductor manufacturer Infineon Technologies. 'Gaining access to know-how is only half the battle,' he said. 'Transferring it to Indian operations and building capability within local teams…demand years of groundwork, deep technical maturity, and process discipline.' Infineon supplies high performance silicon wafers, and CDIL packages and distributes advanced power semiconductors like MOSFETs and modules specifically tailored for the Indian market, including for electric vehicles and renewables. 'All the JVs and strategic partnerships are a result of the need for Indian entities to build their core competency with best in class proven technology and manufacturing processes,' said Neil Shah, cofounder and vice-president, research, at Counterpoint Research. He noted that matured nodes foundry and back-end packaging OSAT/ATMP are low hanging opportunities for new entrants. 'Building fabs for advanced nodes is still a distant dream for Indian enterprises as there are just three big players like TSMC, the leader, and Samsung and Intel, which are still struggling versus TSMC,' Shah said. 'So, high value fab will take time if at all one of them decides to set up in India in future, if the other ecosystems develop handsomely,' he explained. Biswajeet Mahapatra, principal analyst at Forrester, said acquiring assets of foreign entities allows Indian companies to access advanced technologies like wafer-level packaging, 2.5D/3D integration, and chiplet-based designs, which are critical for modern semiconductors. By leveraging foreign expertise and infrastructure, Indian companies can reduce reliance on imports for high-end packaging solutions and meet the growing demand from global OEMs like Apple and Intel, he explained. For the broader ecosystem, overseas acquisitions and partnerships can help bridge critical capability gaps. Given the current talent crunch in India, they offer a smart and often necessary path for companies entering the sector, experts said. But the real challenge lies in how effectively that know-how is embedded into Indian operations and scaled with consistency and quality, they added.


Time of India
an hour ago
- Time of India
RBI keeping a close watch on newly-licensed payment firms
The Reserve Bank of India has tightened its scrutiny of newly licensed payment aggregators with regular audits and close inspection of the procedures they follow, according to industry executives. After the regulator brought digital payments within its ambit, it is also trying to ensure that payment firms do not have any loose ends through which fraudsters can get access to the wider banking ecosystem. 'One of the things the RBI wants to know is if these merchants are genuine, if they are actual online businesses,' said a chief executive officer of a payments firm, requesting not to be named. 'The idea is to keep the ecosystem free from fraudulent merchants.' KYC (know your customer) is one important aspect that the RBI is looking at very closely, the people cited earlier said. There is a draft proposal that the regulator had circulated regarding making full KYC mandatory for every merchant being onboarded by payment aggregators. The circular is yet to be implemented. ETtech Live Events The executive cited earlier further said RBI officials are also calling up field staff to check if KYC procedures laid out by the company are being followed by agents on the ground. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Payout is an important area of concern for the payments industry, people said. Payouts are processed when any business instead of accepting payments wants to pay either its vendors, cashbacks to customers or process ecommerce returns. 'The question the industry is pondering over is how should these payouts be processed, if they need to be moved via the settlement accounts only,' the executive cited earlier said. The regulator has given out licences to some 54 companies which are allowed to operate as online payment processing entities. Now it wants to ensure that these companies are strictly abiding by norms with regards to supporting payments for online merchants. 'We have always been scrutinised by banks, but bank audits were mostly procedural, something which we were used to, but now RBI audits have become much more stringent and they want to ensure that the rules are being followed across the organisation,' a senior executive at a payments firm said. The RBI is also pushing these fintechs, which in most cases are venture-funded startups, to have strict board-approved policies followed by the management teams. 'We have added professional independent directors to the board now and have changed many approval systems in a way that it abides by regulatory protocol. There is more hygiene that the RBI is trying to bring in,' said another chief executive officer at a Mumbai-based digital payments major. PhonePe recently appointed accomplished banker Zarin Daruwala to its board as an independent director. Earlier this year, PayU had appointed Renu Sud Karnad, former managing director at HDFC, as the chairperson. While on a monthly basis, there is data sharing with the regulator, officials also turn up at their offices on short notice, industry insiders said. 'We had an instance where officials informed us on Friday evening that they will be coming on Monday,' said the executive cited above. Overall, the message that the RBI wants to give to this emerging sector is that they need to put systems in place and stick to them. A founder at a payments firm also pointed out that the RBI is not expecting these firms who are new to the regulatory regime to already have everything in place. But it wants founders to be honest about the progress and remain transparent about it. As the Indian digital payments ecosystem grows, the RBI is also trying to ensure that these firms closely follow the best practices of the financial services industry. Previously, players such as Razorpay and Cashfree had faced regulatory ire when their customer onboarding was completely brought to a stop. Paytm needed to get government clearance regarding their international investments. PayU needed to get its Indian corporate entity to keep the RBI satisfied. The Naspers-backed company managed to get the final PA licence only in May 2025.