India announces major push for startups in emerging tech

Indian Commerce Minister Piyush Goyal announced that the federal government would allocate a significant amount to deep tech innovation through the Rs 10,000-crore (about $1.24 billion) Fund of Funds initiative. He said the government aims to foster the development of cutting-edge technologies, such as artificial intelligence (AI), robotics, quantum computing, machine learning (ML), precision manufacturing, biotech, and similar areas.

Goyal was speaking at Startup Mahakumbh, a first-of-its-kind event bringing together the entire startup ecosystem of India, including investors, incubators and accelerators, and industry leaders from several sectors. He emphasized that the government’s role is to act as a facilitator for startups, offering support rather than serving as a regulatory body.

Goyal also highlighted India’s immense potential in deep technology, AI, and data analytics, expressing strong optimism about the country’s ability to establish a significant presence internationally.

“This is the base. This is the foundation on which I am confident India will foray in a very big way into the world of innovation. We will make our presence felt at the global stage on products of deep significance, whether it is deep tech, AI, machine learning, or how we can do data analytics smarter and better,” Goyal said.

Building on the success of the inaugural edition, which featured over 1,300 exhibitors and attracted more than 48,000 visitors, Startup Mahakumbh 2025 was one of India’s largest innovation and entrepreneurship events for startups, investors, and industry leaders. The event, held from April 3 to 5, witnessed a remarkable turnout, with a footfall of 107,823 over two days, the Ministry of Commerce said in a statement.

Goyal announced that the Ministry of Commerce and Industry will launch a new helpline supporting startups. This service will allow startups to reach out if they face harassment from government agencies or if they have suggestions or concerns to share.

“Having visited the exhibition, the flavor that I got–the taste of innovative work that our young men and women have created through their sheer tenacity, hard work, spirit of enquiry, research and innovation–is music to one’s ears,” he added. “You can see the work of world-class quality, experience the technologies created on energy efficiency, powering electronics, see the defence equipment that young startups are creating, and realise how fintech is becoming a source of empowerment for the common citizen…” he said, referring to his visit to Startup Mahakumbh as “truly an experience of a lifetime.”

Startup Mahakumbh featured 10 thematic pavilions, covering key industries such as AI, deep tech and cybersecurity, healthtech and biotech, agritech, climate tech, incubators and accelerators, direct-to-consumer (D2C), fintech, gaming and sports, business-to-business (B2B) and precision manufacturing, defense and space tech, and mobility.

Startup Mahakumbh featured over 3,000 startups, more than 1,000 investors and incubators, and over 10,000 delegates from more than 50 countries, making it a prime opportunity for startups to pitch their businesses, build investor relationships, and secure crucial funding, the statement said.

Emerging tech investments to drive ‘Viksit Bharat’ goal

According to Goyal, the local startup ecosystem will help India develop its “Viksit Bharat 2047” vision.

Goyal emphasized India’s impressive economic progress, noting that the country, presently the fifth-largest economy globally, is set to become the fourth-largest by the end of 2025 and the third-largest by 2027, surpassing Japan and Germany. He attributed this remarkable growth to India’s thriving startup ecosystem and significant strides in fields like AI, semiconductor production, and deep tech innovations.

Encouraging Indian investors to actively support the domestic startup ecosystem, the minister reaffirmed the government’s dedication to fostering innovation and entrepreneurship. He assured entrepreneurs facing challenges that the government would provide continued support and guidance, urging them to persist in their efforts.

Goyal underscored the necessity of increasing domestic capital investments, pointing out that a strong foundation of local investment is key to reducing reliance on foreign capital and ensuring long-term economic stability. He called on native investors to strengthen India’s capital base and secure greater economic self-reliance.

Goyal further emphasized the importance of investing in emerging technologies such as robotics, automation, ML, 3D manufacturing, and next-generation factories, highlighting their critical role in achieving the vision of ‘Viksit Bharat 2047’ and positioning India as a global leader in industry and innovation.

Goyal also took pride in India’s standing as the third-largest startup ecosystem in the world, attributing this success to the nation’s vibrant entrepreneurial spirit and technological advancements. During his address at the event, he stressed the growing importance of startups in driving India’s economic and technological progress.

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