Largest Government Push for R&D in History
On July 5, Commerce and Industry Minister Piyush Goyal announced that the government will invest ₹3 lakh crore over ten years to strengthen research, create jobs, and support start-ups.
Key Public Investment Plan
- Funds directed at R&D in deep tech, including AI, semiconductors, robotics, quantum computing, biotech, and precision manufacturing.
- Support will take form of grants, loans, equity funding, and incentives—especially for early-stage and prototype development.
- Development of infrastructure such as state-level deep-tech incubators, aimed at boosting Atmanirbhar Bharat goals.
Startup Ecosystem Impact
- Helping India’s 80,000+ registered startups to pivot towards global tech innovation.
- Part of a shift from funding consumer-led sectors to high-growth deep-tech companies.
- The fund may include a Debt and Equity Fund of Funds covering grants and investments.
Job Creation and Economic Significance
- Anticipated to create millions of direct and indirect jobs in high-tech research, manufacturing, and services.
- Based on past PLI successes and current startup contributions exceeding ₹3 lakh crore in valuation.
- Government aims to double India’s share in global deep-tech innovation while boosting supply chain resilience.
This ₹3 lakh crore initiative shows India shifting into high gear on innovation. It connects with earlier deep-tech funding plans and aims to solidify India’s position as a global leader in cutting-edge tech.