NEW DELHI -- Venture capital investment is still shrinking in India despite Prime Minister Narendra Modi's "Startup India" initiative to nurture new businesses.
While venture businesses for Internet services continue to draw attention, venture capital investment in the first three months of this year totaled 68 in number and $314 million in value, according to Venture Intelligence, the research arm of TSJ Media. The number of investment roughly dropped in half from a year earlier and was the smallest in 11 quarters.
