His comments follow the Trump administration’s latest curbs on Indian IT workers‘ H-1B visas.
Speaking as guest of honour at the ET Startup Awards 2026, Goyal spoke about the Indian businessmen working in the US and asked what might have happened had they built their businesses and done their research in India. “The pandemic has changed things dramatically, since much work no longer requires physical presence and can be done from home or offshore. Only a few people may need to go,” he said.
The bulk of the work, Goyal said, is now coming to Bengaluru, Noida, Mumbai, and Hyderabad as businesses recognise the value of setting up global capability centres (GCCs) in India.
He said he had held 19 one-on-one meetings with global business leaders during his US trip, helming companies worth $50-60 billion, and each had explained their India expansion plans. “Manufacturers and insurers alike want a presence in the country. One of the largest investors in the US wants to put $100-150 billion into India given the scale of opportunity,” he said.
Many of these companies already operate GCCs in Bengaluru, Hyderabad, and Pune, Goyal noted. Against that backdrop, he said, being denied H-1B visas would give India’s startup ecosystem a fillip.