India’s startup ecosystem has responded sharply to Union Minister of Commerce and Industry Piyush Goyal’s recent comments questioning the sector’s priorities. Speaking at the second edition of the Startup Mahakumbh in New Delhi, Goyal appeared critical of the focus on consumer-centric ventures. He asked the audience, “Do we have to make ice creams or chips? Dukandari hi karni hai?”
Goyal also drew comparisons with China,...
In a move aimed at scaling India’s biotech ecosystem, Union Minister Dr. Jitendra Singh has announced the establishment of Regional BIRAC Centres across the country. These centres will be launched in collaboration with state governments to boost startup support and biomanufacturing capabilities in different regions.
The announcement was made during a high-level review meeting of the Department of Biotechnology (DBT) in Delhi. The initiative is...
A new report has revealed that 80 percent of women-led businesses in India face challenges with international payments, while 60 percent struggle with complex regulatory compliance. The report, prepared by Aspire For Her and payment solutions provider Payoneer, sheds light on the barriers preventing women entrepreneurs from expanding into global markets.
Despite their growing economic contributions, women-led enterprises make up only 15.4 percent of India’s...
The Government e-Marketplace (GeM) has emerged as a transformative force in India’s public procurement landscape, fostering transparency, inclusivity, and efficiency. Since its launch in 2016 by the Ministry of Commerce and Industry, GeM has created a level playing field for businesses of all sizes, enabling startups, women entrepreneurs, and MSMEs to participate in government contracts.
Driving Economic Opportunities
GeM has facilitated ₹35,950 crore worth of orders...
Union Minister for Commerce and Industry, Shri Piyush Goyal, inaugurated the ‘Bharat Calling Conference 2025’ organized by the IMC Chamber of Commerce and Industry in Mumbai. As the keynote speaker, he addressed the theme ‘Path to Viksit Bharat 2047: Pioneering Prosperity for All’, emphasizing India’s transformation into a global economic powerhouse and highlighting key enablers for long-term growth.
India’s Economic Transformation and Global Investment Potential
Shri...
State Bank of India (SBI) Chairman C.S. Setty has called for the development of an ecosystem that enables banks to provide equity support to startups, expanding beyond their current role of offering only debt financing.
Speaking at the Nasscom Technology and Leadership Forum (NTLF), Setty highlighted the government’s plans to introduce a guarantee scheme that would provide support for loans up to ₹100 crore for...
Singulr AI has officially launched with $10 million in seed funding, introducing its enterprise AI security and governance platform aimed at helping organizations manage AI risks, prevent data leakage, and enforce security policies. With offices in Palo Alto, California, and Pune, India, the company is positioned to address the growing security challenges of enterprise AI adoption.
A New Approach to AI Security and Governance
As businesses...
The Software Technology Parks of India (STPI), under the Ministry of Electronics and Information Technology (MeitY), has inaugurated a new incubation facility in Salt Lake, Kolkata, marking a significant step towards fostering innovation and promoting IT exports from West Bengal. The facility was inaugurated by Shri Jitin Prasada, Hon’ble Minister of State for Commerce & Industry and Electronics and IT.
This initiative aligns with the...
In a significant move to boost India’s startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has joined forces with Rukam Capital and Bootstrap Incubation & Advisory Foundation. Announced on Monday, the partnership aims to empower product-based startups and innovators across India by offering structured programs, funding access, mentorship, and strategic guidance.
This collaboration, formalized through a Memorandum of Understanding (MoU), will...
The number of startups in India is expected to surge nearly tenfold over the next decade, reaching 1 million, driven by extensive government support, Commerce and Industry Minister Piyush Goyal stated on Tuesday.
Speaking at the India-Israel Business Forum, Goyal highlighted India’s rapid rise as a startup powerhouse. “We are now the third-largest startup ecosystem in the world, growing from 450 registered startups in 2014...
India’s passenger vehicle (PV) exports are unlikely to be materially affected by the recent round of US tariffs, according to credit ratings agency ICRA. This assessment follows US President Donald Trump’s announcement of reciprocal tariffs on 60 countries, including a 27% levy on Indian goods, to counter what he described as unfair trade practices.
Despite the headline figure, the automobile sector remains outside the purview...
