Scene of action has changed

Enterprise, entrepreneurship, risks and returns were the buzzwords at the Tenth Berkeley Asia Business Conference 2010 last month that saw for the first time the holding of an India Forum, evidently in recognition of the country's growing economic prowess.

The speakers in the keenly-attended India forum included Sabeer Bhatia, co-founder and chairman of SabseBolo; Kanwal Rekhi, managing director, Inventus Capital and founder of The Indus Entrepreneurs; Prabhakant Sinha, founder and co-chairman, ZS Associates; and Vivek Wadhwa, visiting scholar at the University of California- Berkeley.

The speakers spoke about their ventures and enterprises in India commencing with Bhatia who talked about the initiative of Nanocity in Haryana that he is involved in. The speakers also presented varied viewpoints on the trends in venture capital in India.

Kanwal Rekhi said that angel investors are active in big cities but that his trips are increasingly to second-tier cities where enterprises are mushrooming. "A few years back, I used to make trips to New Delhi, Bombay, Bangalore and Hyderabad, but of late my trips are mostly to second and even third tier cities like Hubli and others. The scene of action has changed," he said.

Has the scene of action really changed?
Well, the scene of action is changing.

Few years down the line the scene of action will be shot in Hubli - Dharwad and Belgaum. With investments already starting to flow into this region, and infrastructure projects in the pipeline, the focus has now shifted. Its time for the state governments and the central government to start promoting the Tier 2 and Tier 3 cities of India and stop the ever-increasing migration of people to the metros.

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