ET Startup Awards 2025: The less the regulation, the more successful the industry: Union minister Piyush Goyal
Piyush Goyal, the union commerce and industry, said that startups grow faster with fewer regulatory barriers, and pointed to the software industry as an example where limited government intervention led to growth. “The less the regulation on the industry, the more successful it will be,” he said.
During a fireside chat at the ET Startup Awards 2025, Goyal added that India must find new ways to strengthen her startup ecosystem, suggesting that capital from insurance companies or provident funds could be used to support emerging ventures and drive new success stories.
The minister asserted that the government is “playing on the front foot” to strengthen the startup and deep-tech space with a raft of policy measures and funding commitments.
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In April, it announced a second tranche of Rs 10,000 crore to promote innovation and strengthen the deep-tech ecosystem.
“When you supplement government funding with private sector support, the figure grows,” he said, noting that innovation costs in India are significantly lower than in the US or Europe. “You have a 7–8X multiplier there also. So, you are really seeded with nearly Rs 10 lakh crore of innovation in the country, and that's huge.”
The current fund, part of the flagship Fund of Funds (FoF), was first announced by union finance minister Nirmala Sitharaman during the union budget for 2025-26. The scheme was originally launched in 2016 with an initial corpus of Rs 10,000 crore.
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During a fireside chat at the ET Startup Awards 2025, Goyal added that India must find new ways to strengthen her startup ecosystem, suggesting that capital from insurance companies or provident funds could be used to support emerging ventures and drive new success stories.
The minister asserted that the government is “playing on the front foot” to strengthen the startup and deep-tech space with a raft of policy measures and funding commitments.
Also Read: ET Startup Awards 2025: Criticism isn’t always negative, says Peyush Bansal on Lenskart's IPO valuation comments
In April, it announced a second tranche of Rs 10,000 crore to promote innovation and strengthen the deep-tech ecosystem.
“When you supplement government funding with private sector support, the figure grows,” he said, noting that innovation costs in India are significantly lower than in the US or Europe. “You have a 7–8X multiplier there also. So, you are really seeded with nearly Rs 10 lakh crore of innovation in the country, and that's huge.”
The current fund, part of the flagship Fund of Funds (FoF), was first announced by union finance minister Nirmala Sitharaman during the union budget for 2025-26. The scheme was originally launched in 2016 with an initial corpus of Rs 10,000 crore.
Also Read: ET Startup Awards 2025: We don’t see a duopoly in food delivery — Rapido's Aravind Sanka
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