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Piyush Goyal announced a ₹3 lakh crore funding for initiatives supporting India's research, employment and startup ecosystem. He also highlighted Bengaluru's tech contributions in driving National growth.
Union Minister of Commerce and Industry Piyush Goyal announced a ₹3 lakh crore allocation for new schemes aimed at fueling India’s economic progress.
Speaking at an interactive session with industry leaders in Bengaluru, Goyal highlighted the government’s commitment of strengthening the country’s research, employment, and India's startup ecosystem, ANI reported.
Initiatives to bolster economic growth
The Union minister also gave details about the latest Cabinet approvals, which include:
- ₹1 lakh crore for research and innovation: A significant amount of ₹1 lakh crore will be dedicated to promote research and development and innovation.
- ₹2 lakh crore for employment generation: Another allocation of ₹2 lakh crore towards employment generation incentive scheme and several other programs for skill development, including an internship program.
The schemes aim to benefit various sectors across the country. "These will give encouragement to support an ecosystem of startup, tech and manufacturing," Goyal added, speaking of the approvals.
‘Jewel in the crown’ of India’s economy
Piyush Goyal also praised Bengaluru's established deep tech and startup ecosystem, calling it a "jewel in the crown" of India's economic landscape.
He acknowledged the crucial contributions of the city's global capability centres and tech entrepreneurs in driving growth.
He said, "I also believe that the deep tech industry, the startup ecosystem, which is present in Bengaluru in a big way, is a jewel in our crown. We are very proud of the good work that the tech sector particularly, and the global capability centres are doing."
Strong stance against terrorism
Beyond economic policy, Piyush Goyal also addressed broader national concerns. During his interaction, he expressed satisfaction at the appreciation received from attendees on Operation Sindoor following a recent terrorist attack in Pahalgam.
"I was also very pleased when one of the questioners complimented the government for the fitting response given under Operation Sindoor to the terrorist attack,” he said.
He also claimed that the incident was not just an “assault” on security but also an attack on India's economic progress, integrity, and sovereignty, the news agency reported.
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