India will be a big export economy and it needs to create a balance between safeguarding citizens and enabling companies to innovate with its framework, Google CEO Sundar Pichai said on Monday.

While speaking at Google for India event, Pichai said that the company is focussing on startups from India and out of its USD 300 million for the startups, around one-fourth will be invested in entities that are led by women.

He said that the technology is working at a big scale and touching the lives of people around the world, which calls for framing responsible and balanced regulation.

"Given the scale and technology leadership, it (India) will have, it's important to make sure you are balancing, putting in safeguards for people. You're creating an innovative framework so that companies can innovate on top of certainty in the legal framework. I think it is an important moment in time. India will also be a big export economy. It will benefit from an open and connected internet and getting that balance right will be important," Pichai said.

He said the sophistication of the Indian startup ecosystem is measurably improving and Indian startups like Glance are getting noticed worldwide.