Invest in India before it’s too late, Piyush Goyal tells VCs and corporates; deep-tech to get lion’s share of ₹10,000 crore fund funds

Union Commerce and Industry Minister Piyush Goyal on Tuesday urged investors, corporates and venture capital funds to "get into action" and start investing in India before it is "too late".

He said India's investment ecosystem is ready, the domestic market is vast, and the government would help investors connect with market opportunities, while a supportive policy framework is already in place.

"To our investors and venture funds, the time is now, get into action and start investing before it is too late. Indian family offices, Indian venture capital funds, Indian investors, Indian corporates, they all have to come into action.

"The ecosystem is ready. Our startups are doing some phenomenal work. There are tried and tested models in India. The market is large. The government will help connect you to the market. The policy framework is available. Get open to ideas on that front and invest in the future that India offers to the world," he said. The minister was speaking at the closing ceremony of 'Bharat Innovates 2026' in Nice, France.

He also called upon the domestic industry to promote startups by joining hands with them in the manufacturing segment.

"So that India will become your (Indian industries) launch pad and the global market will become your destination," Goyal said, while urging researchers, academia and higher institutes to jointly carry out R&D programmes.

He added it will help India reduce the time towards scientific discovery and the time to market the good work that is being done in India.

The government has announced a series of measures to promote the startup ecosystem in India. It has rolled out a startup action plan to support budding entrepreneurs.

The minister said that almost the entire amount of the second tranche of the Rs 10,000 crore Fund of Funds scheme is going to be committed for deep tech innovators and entities.

He also asked the domestic industry to leverage free trade agreements (FTAs) finalised by India in recent years.

Besides, Goyal sought suggestions on further improving the ease of doing business in the country and on measures to encourage Indian startups working overseas to return and establish their base in India.

"All those who are working around the world, many of whom want to come back…Give us some suggestions. How can we make the path of coming back to India to serve our mother land? How can we encourage so many young men and women researchers and innovators? "We've been working for others for developing technologies... How can we help bring them back to India? How do we attract them?" he asked.

Meanwhile, Goyal launched UPI at the iconic Galeries Lafayette, Nice Massena, France.

"Bringing India's world-class digital payments platform to one of France's premier retail destinations marks another significant step in UPI's global expansion. With the participation of Lyra Collect and NIPL, this initiative showcases India's ability to deliver trusted, seamless, and interoperable digital solutions at scale," he said in a social media post.

The minister expressed hope that soon UPI will become a preferred mode of digital transfer transactions across the world.

"In India, almost every transaction is backed by UPI," he added