New Delhi— Commerce and Industry Minister Piyush Goyal announced on Saturday that the government will provide significant support to deeptech startups through the Rs 10,000 crore Fund of Funds scheme.
Speaking at the Startup Mahakumbh 2025 in New Delhi, Goyal emphasized that he has directed SIDBI to prioritize smaller startups when disbursing funds under the scheme.
“I want SIDBI to set up a center in every state to assist startup founders and entrepreneurs in exploring new ideas,” Goyal said.
The minister expressed confidence in India’s growing potential in deep technology, artificial intelligence, and data analytics.
“This is the foundation on which I am confident India will make a major foray into the world of innovation. We will ensure our presence is strongly felt on the global stage,” he added.
Goyal also urged Indian investors to recognize the vast potential of the country’s startup ecosystem, noting that India’s young entrepreneurs are doing outstanding work that could be accelerated with increased domestic investment.
He reassured entrepreneurs that the government’s role would be that of a facilitator, not a regulator, to foster the growth of the startup ecosystem. He also encouraged them to provide feedback on improving the ease of doing business.
In a sharp remark aimed at opposition parties, Goyal said: “Some political parties, who call themselves by the same name as the country – India – seem dismayed when programs like Startup Mahakumbh succeed.”
Earlier, Goyal had stirred debate by comparing Chinese and Indian startups, highlighting the need for a stronger focus on high-end technology. However, he reaffirmed his belief that India will soon emerge as a global leader in innovation and technology-driven growth.
“This is the foundation on which I am confident India will make a significant mark in the world of innovation. We will make our presence known globally. I leave here extremely satisfied with the progress of our young startups. Young India is eager to take on the world,” Goyal concluded. (Source: IANS)
