Speaking at the TiEcon Delhi NCR conference, Union Minister of Commerce and Industry Piyush Goyal stressed the need for India to develop its own technologies and reduce reliance on foreign sources for critical inputs. He said that India should move beyond being known only as a back office or software service provider and instead become a global engine of innovation that shapes new products and technologies.
According to an official press release, Goyal explained that the idea of Swadeshi is not just about producing in India but also about ensuring long term national growth and security in a world where global situations can change rapidly. Goyal also pointed out that recent global disruptions have shown how important it is to build strong supply chains, develop indigenous solutions, and maintain control over key technologies.
The Minister appreciated the role of TiE in inspiring young entrepreneurs to participate in deeptech innovation. He described the conference as a platform for the next phase of India’s rise in advanced technology fields.
Goyal highlighted the country’s digital journey over the past decade. When the Digital India initiative began in 2014 there were around 250 million internet users in the country. Today that number has crossed one billion. He said this shift shows that technology and innovation form the base of India’s future progress.
He outlined the government’s vision for deeptech, which includes artificial intelligence, quantum computing, machine learning, defence and space technologies, the semiconductor mission, and strengthening the intellectual property ecosystem. He shared that the second edition of the Startup Fund of Funds will focus mainly on early stage deeptech ventures. He also mentioned the launch of a one lakh crore rupee Anusandhan Fund to support long term research and innovation.
Goyal expressed confidence in India’s talent pool, stating that the country graduates a large number of engineers and STEM students every year. He said the global community now recognises India as a center of talent and that many Indian deeptech startups are gaining global recognition. Goyal reaffirmed that the government is committed to supporting innovators and said that his doors are always open for ideas that strengthen the country’s technology base.
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