The Indian government has significantly reaffirmed its commitment to fostering the nation’s burgeoning Deep Tech ecosystem with the allocation of a second tranche of ₹10,000 crores. This new funding follows an initial “Fund of Funds” of the same amount provided in the previous budget, underscoring a sustained drive to promote innovation, integrate advanced technologies, and develop contemporary solutions within the country.
Union Minister of Commerce and Industry Piyush Goyal announced this latest financial injection during Sangam 2025, the global innovation and alumni summit organized by the IIT Madras Alumni Association (IITMAA). Goyal stated that the funding aims to spur innovation, facilitate the absorption of cutting-edge technologies, and catalyze the development of indigenous technological advancements.
In a further boost to research and development, Minister Goyal also revealed a separate approval of ₹1 lakh crore by the cabinet, earmarked for the University’s Science and Technology department. This substantial amount will be disbursed as a ‘zero-interest 50-year loan,’ designed to offer crucial flexibility for equity and low-cost support.
This innovative funding model will allow for the reinvestment of funds as technologies mature, thereby creating a sustainable cycle for technological growth. Goyal highlighted India’s cost-effectiveness in developing new technologies, asserting that it is significantly cheaper compared to Western nations.
Speaking on India’s broader economic aspirations, Minister Goyal reiterated the government’s mission to elevate the Indian economy from its current $4 trillion valuation to $32 trillion by 2047. He projected India to become the world’s fourth-largest GDP by the end of 2025 and ascend to the third-largest position by 2027, signaling strong confidence in the nation’s economic trajectory.
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