Suzuki-backed Next Bharat Ventures hosts the Next Billion Forum to strengthen India-Japan ties and empower India’s “Next Billion”—the informal and rural population

• Mr. Toshihiro Suzuki, President of Suzuki Motor Corporation, inaugurated the forum in GIFT City on December 23, 2024
• This year’s theme, “India’s Next Billion Opportunities,” explored a strategic roadmap for integrating impact driven startups, working in the informal sectors, into the country’s growth story as it approaches its centenary of independence
• The forum featured Mr. Toshihiro Suzuki, President of Suzuki Motor Corporation, Mr. K. Rajaraman, Chairman of IFSCA, and Guest of Honor Mr. Amitabh Kant, India’s G20 Sherpa and former CEO of NITI Aayog. Also in attendance were the Governor of Shizuoka Prefecture, Japan, and over 60 Japanese delegates, including CEOs of prominent Japanese organizations operating in India
• The event also hosted a panel discussion on “Bharat 2047,” which included eminent panelists such as Mr. K. Rajaraman, Chairman of IFSCA, Mr. Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co.; a well-known economist and advisor to the Prime Minister; Ms. Reema Nanavati, Director of SEWA. The discussion was moderated by Mr. Mohandas Pai, Chairman of Aarin Capital

GIFT City – 26^th December 2024: Next Bharat Ventures, a subsidiary of Suzuki Motor Corporation, successfully hosted the inaugural Next Billion Forum. This event marked a pivotal step in fortifying India-Japan ties and fostering strategic investments in India’s underserved regions. The forum emphasized the importance of charting a course for Viksit Bharat 2047 by integrating the rural and informal economy into the national growth agenda. The forum also marked the opening of applications for the second cohort of the Next Bharat Residency Program.

During the forum, 13 impact entrepreneurs from the cohort of Next Bharat Ventures were introduced, and the start of the application process for their next batch was announced. Selected from over 1,500 startups across the country, 50% of these select entrepreneurs are women founders. Next Bharat Ventures, apart from providing risk capital, also provides network and mentoring to these startups.

Launching the Next Billion Forum, Mr. Toshihiro Suzuki, President of Suzuki Motor Corporation said, “Suzuki is proud to contribute to India’s growth story through initiatives like the Next Billion Forum. By fostering innovation, supporting local entrepreneurs, and creating impactful partnerships, we aim to empower Tier 2 and Tier 3 geographies and pave the way for a developed India by 2047. This forum is a testament to the transformative potential of a strong India-Japan partnership.”

“Bharat has about 1.4 billion people, but we have only reached about 0.4 billion with our mobility business. Our goal is to connect with the “Next Billion” people of India, extending beyond mobility and becoming a part of India’s future story. Next Bharat Ventures builds on Suzuki’s legacy of solving real-world problems to empower impact entrepreneurs in rural India. By investing in innovative solutions, we aim to create value for both India and Japan, supporting the next billion people and fostering sustainable growth for a brighter future.” Mr. Suzuki added.

Themed “India’s Next Billion Opportunities,” the forum highlighted strategies for integrating India’s rural and informal economies into its broader development trajectory. A panel discussion, moderated by Mr. Mohandas Pai, also included esteemed panelists such as Mr. Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co., a well-known economist and advisor to the Prime Minister; Ms. Reema Nanavati, Director of SEWA; and Mr. K. Rajaraman, Chairman of IFSCA. Discussions centred on strategies to achieve India’s development goals by 2047, with a special focus on key investment practices to unlock the growth potential of the Next Billion.

Mr. Vipul Nath Jindal, MD & CEO of Next Bharat Ventures, emphasized: “Next Bharat Ventures was founded with the vision of building a community of great entrepreneurs, creating greater impact for the next billion people. The Next Billion Forum represents a transformative step in reshaping India’s growth narrative. By focusing on patient capital and fostering ‘elephant entrepreneurs’—who prioritize social value alongside steady growth—we can drive sustainable, inclusive development. This forum is not merely a discussion platform but a call to action for real change by both India and Japan.”

Mr. Amitabh Kant, India’s G20 Sherpa, Govt. of India and former CEO of NITI Aayog, added “India, a $4 trillion economy growing at 8.2%, is the only country building eight airports and three metros annually, 30 km of roads and 13 km of railway tracks daily, and has increased solar energy 31x in nine years. Our virtual banking system handles 50% of fast payments in real-time on mobile and we aim to become a $30 trillion economy by 2047 under PM Modi’s vision to achieve this milestone we require more partnerships like those with Japan, particularly through Suzuki Motors, which has been integral to India’s manufacturing success over so many decades. 

Next Bharat Ventures backed by Suzuki is transforming rural livelihoods by empowering young entrepreneurs and driving value addition in agriculture. I’ve never seen such an investment strategy by any private organization; the impact Next Bharat Ventures will create in the next decade is set to redefine India’s growth trajectory. This initiative will create sustainable jobs and increase producer earnings, fostering a new generation of entrepreneurs in India. Through support in finance, mentorship, and market access, Suzuki is laying the groundwork for lasting change. The Government of India fully supports this transformative program, which will have a profound impact on India’s future.” Mr. Kant concluded.  

Further to this, Mr. K Rajaraman, Chairperson of International Financial Services Centres Authority (IFSCA), discussed at length how India must move from being a passive consumer to a global leader in innovation and domestic capabilities. He outlined progress in India’s reform journey led by Hon Prime Minister, mentioning “With over 28 international banks and 200 alternate investment funds already operational at GIFT City, we are witnessing unprecedented progress. Initiatives such as Next Bharat Ventures’ impact investment fund registered in GIFT IFSC further underline the critical role of collaborations in unlocking Middle India’s potential and empowering communities. IFSCA’s focus remains on creating an ecosystem that seamlessly attracts global capital while driving inclusive, sustainable, and technology-enabled growth for ViksitBharat@2047 journey.” He also pointed out increased scope for Japanese investors to invest in India.

Mr. Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co.; a well-known economist and advisor to the Prime Minister reflected during the panel, “Investors are drawn to India for growth, governance, and efficiency. Over the last decade, Indian markets have delivered 166% earnings growth in rupee terms, far surpassing China’s 10% in renminbi. Despite needing capital, India is an exporter of capital.“

The forum also witnessed the launch of new initiatives aimed at advancing India’s informal and rural sectors. These initiatives reaffirm Next Bharat Ventures’ commitment to sustainable development and fostering entrepreneurial ecosystems across the country’s Tier 2 and Tier 3 geographies.