Union Minister of Commerce & Industry Piyush Goyal had Interactive Session with Industry Leaders
Bengaluru, July 5, 2025. Union Minister Mr. Piyush Goyal conducted a fruitful interaction with Industry Leaders, Startups & Deeptech Innovators in Bengaluru, in the presence of Mr. M.B. Patil, Minister for Commerce & Industries and Infrastructure, Government of Karnataka.
Highlighting India’s robust innovation framework, Mr. Piyush Goyal emphasised on the government’s efforts in launching the Rs. 10,000 crore Fund of Funds for Startups (FFS) supporting early and growth-stage deeptech startups; the Rs. 1 lakh crore Research & Development and Innovation (RDI) Scheme, offering long-term, low-cost capital to private sector R&D offering long-term, low-cost capital through a dedicated Special Purpose Vehicle (SPV). He also highlighted the remarkable resilience of India’s economy post-COVID, powered by innovation, entrepreneurship, and robust policy support, which is now globally recognised. The rising global reputation of ‘Made in India’ products, driven by improvements in quality, design, and competitiveness, across sectors including electronics, manufacturing, pharmaceuticals, and textiles also stands testament to India’s growing economic stature. He also spoke about the importance of easing regulatory frameworks, expediting the process related to patents and trademarks to foster a business-friendly environment.
The session witnessed the participation of over 100+ key stakeholders, including prominent startup founders, industry leaders, deeptech innovators, venture capitalists and academia representatives. The event was jointly organized by Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, in collaboration with the Confederation of Indian Industry (CII). During the session, the efforts to strengthen the industrial landscape of India through the National Industrial Corridor Development Programme were presented by CEO, National Industrial Corridor Development Corporation (NICDC).
During the interaction, industry stalwarts such as Mr. Kris Gopalakrishnan, Ms. Kiran Mazumdar-Shaw, Ms. Geetanjali Kirloskar, and Dr. Devi Prasad Shetty, among others, engaged in an insightful discussion moderated by Mr. Kamal Bali, Chairman (South), Confederation of Indian Industry (CII). The dialogue highlighted India’s growing capabilities in product development and innovation, as exemplified during Operation Sindoor, and underscored the need to build on this momentum to scale India’s position as the world’s third-largest startup ecosystem.
The event reaffirmed Government of India’s commitment to enabling inclusive, innovation-led growth and building a globally competitive industry ecosystem aligned with the vision of Viksit Bharat @2047.
