Minister of Commerce and Industry Piyush Goyal today said that it is vital for India to develop its own technologies and reduce over-dependence on certain geographies for key inputs. Addressing the TiEcon conference in New Delhi, Mr Goyal highlighted that India has emerged as the global engine of innovation that drives new ideas, products, and technologies for the future.

 

 

He further noted that the spirit of Swadeshi is not only about making, designing, or serving from the country, but about ensuring long-term growth, sovereignty, and security in an increasingly unpredictable global environment. The Minister asserted that the government, along with well-meaning individuals and organisations, is investing not only financial resources but also effort to promote the deeptech ecosystem in the country.

 

 

On the occasion, he also announced that the second edition of the Startup Fund of Funds will focus primarily on early-stage investments in deeptech ventures, providing risk capital to help innovators retain ownership and develop indigenous technologies. Furthermore, Mr Goyal mentioned the launch of Anusandhan Fund of one lakh crore rupees to promote research, innovation, and long-term financing for transformative projects.