Six oil advertising and marketing firms (OMC) in India have invested Rs 290 crore from their Rs 550-crore startup fund — nurturing 303 startups to date — Union Minister of Petroleum and Pure Gasoline, Hardeep Singh Puri, stated on Tuesday.
The Union Minister stated the nation continues to face because the world’s third-largest startup ecosystem.
“India’s startup journey is not only about numbers. It’s about goals, dedication, and a future formed by innovation,” stated the minister in a submit on X social media platform.
Hardeep Puri additional acknowledged that the nation has over 1.5 lakh startups and 120 unicorns.
“Contributing to this exceptional progress are the 6 Oil Advertising Corporations underneath @PetroleumMin, which have created a Rs 550 crore startup fund. Already, Rs 290 crore has been invested to help 303 startups,” the Union Minister knowledgeable.
In response to the minister, that is actual empowerment, actual influence, and an actual imaginative and prescient for the “future-enabled by the far-sighted management of Prime Minister Narendra Modi”.
The federal government, within the Union Funds 2025-26, made a considerable allocation in direction of growing deeptech and AI-enabled platforms via the Rs 10,000-crore Fund of Funds scheme.
Union Commerce and Trade Minister Piyush Goyal, whereas addressing the ‘Startup Mahakumbh’ occasion not too long ago, stated that the federal government is dedicated to supporting startups as a facilitator, not as a regulator. Highlighting India’s rising power in innovation, Goyal expressed confidence within the nation’s potential in deep expertise, synthetic intelligence, and knowledge analytics.
“That is the inspiration on which I’m assured India will foray in an enormous manner into the world of innovation. We are going to make our presence felt on the worldwide stage,” Goyal stated.
In response to business leaders, the allocation of Rs 10,000 crore funds for exploring and increasing deeptech within the nation is a progressive and path-breaking step, which can open new avenues within the subject of start-ups and innovation ecosystem, together with AI.
