John Chambers, the executive chairman of US based networking giant Cisco has launched a USD 70 million focused on India's startups, the company's founder told CNBCTV-18 in an exclusive interview this week.

“We have committed over USD 70 million to the start-up engine in India. I would probably even some day personally invest in several others,” Chambers said.

The Chairman of the world’s largest networking company stated that he coaches around 30 CEOs of startups every month, and meets with 7,000 startups a month and 1—15 individual ones.

“Big company may or may not add headcount over the next decade and government may or may not, the engine of economic growth whether it is 100 and 1.2 million people a month in India or in the US 200 to 250,000, it will be largely start-up driven,” he says.

The U.S-based Silicon Valley company that revolutionized the world of digital networks set up its second world headquarters in India, and the largest outside the U.S in 1995.

“That’s how much I believed in your country,” Chambers said.

“And where 3-4 years ago many countries were hesitant about investing in India and making a partnership and it being a two-way approach, today you do not see that at all,” Chamber further added on the sidelines of an event to mark the visit by PM Modi to the US.

Chambers showered immense praise for Prime Minister Modi, lauding schemes and reforms launched in recent times including Digital India, GST and demonetization, “I have been amazed that how much improvement he has made on ease of doing business and creating the right environment for it.”

Currently Indo-U.S bilateral trade is valued of USD 100 billion.