Union Commerce and Industry Minister Piyush Goyal has announced the launch of a ₹10,000 crore second tranche under the government’s ‘Fund of Funds’, with a dedicated focus on strengthening India’s deep technology sector. He said the fund will support the entire technology lifecycle—from early-stage research to commercial deployment—by promoting innovation, adopting new technologies, and developing cutting-edge solutions. Guidelines for deploying this capital are currently being finalised.

Highlighting the government’s broader technology investment push, Piyush Goyal referred to the Cabinet’s recent approval of a ₹1 lakh crore ($12 billion) zero-interest loan over 50 years for the Department of Science and Technology. This long-term financing structure will enable the government to offer flexible forms of support such as equity, grants, and low-cost funding, and adapt assistance as technologies mature.

He emphasised India’s cost advantage in technological development, noting that producing new technologies domestically can be up to six or seven times cheaper than in countries like Switzerland or the United States. He also stressed the government’s focus on emerging areas like artificial intelligence, machine learning, computing, and data analytics, underscoring that India’s policies are designed to make the country “future-ready” and globally competitive in these fields.

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The Minister further outlined India’s economic ambitions, noting that the country has risen from the 11th to the 5th largest GDP in the world. He projected that India would become the fourth-largest economy by the end of 2025 and reach the third position by 2027.

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