New Delhi, April 15 (IANS) The PHD Chamber of Commerce and Industry (PHDCCI) on Tuesday described the allocation of Rs 10,000 crore funds in the Union Budget for exploring and expanding deeptech in the country as a progressive and path-breaking step, which will open new avenues in the field of start-ups and innovation ecosystem, including Artificial Intelligence (AI).
PHDCCI CEO and Secretary General Dr Ranjeet Mehta, talking to IANS, hailed the PM Narendra Modi government’s Rs 10,000 crore Deep Tech Fund and said that it will prove to be a game-changer for India’s innovation ecosystem.
“This fund will empower deep tech startups in AI, robotics, and manufacturing, helping India emerge as a global tech leader,” he said.
Dr Mehta added that the initiative will accelerate sectors like healthtech and govtech, aligning strongly with the Digital India vision.
Highlighting India’s rise to the world’s third-largest startup ecosystem, he noted: “From just 400 startups in 2016, we now have over 1.5 lakh registered with DPIIT.”
The PHDCCI Secretary General further emphasised the role of Atmanirbhar Bharat and international collaborations, like those with Tesla and SpaceX chief Elon Musk, in boosting India’s position in space tech and AI innovation.
“India’s young population, backed by visionary policies, is now driving global innovation,” he remarked.
The Centre in Budget 2025-26 made a substantial allocation towards developing deeptech and AI-enabled platforms through the Rs 10,000-crore Fund of Funds scheme.
Union Commerce Minister Piyush Goyal, while addressing the Startup Mahakumbh recently said that the Centre is committed to supporting startups as a facilitator, not as a regulator.
Highlighting India’s growing strength in innovation, Goyal expressed confidence in the country’s potential in deep technology, artificial intelligence, and data analytics.
“This is the foundation on which I am confident India will foray in a big way into the world of innovation. We will make our presence felt on the global stage,” he said.
–IANS
mr/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
