India Gaining Ground in Manufacturing: Minister Piyush Goyal

• Minister Piyush Goyal highlighted India’s improved ease of doing business through simplified regulations and faster patent/trademark processes.
• Announced key innovation funds, including the ₹1 lakh crore RDI Scheme and ₹10,000 crore Fund of Funds for Startups.
• 62% of ₹5.56 lakh crore investment pledges at GIM have turned into official project proposals.

Union Commerce and Industry Minister Piyush Goyal, who interacted with industry leaders, startups, deep-tech innovators, and venture capitalists at a session here on Saturday, said, “The country’s ease of doing business is being strengthened by regulatory simplification and expedited processes for patents and trademarks.”

Goyal emphasized India's enhanced international standing in quality manufacturing, particularly in areas such as electronics, pharmaceuticals, textiles, and defence, while also pointing out the government's initiatives to bolster the startup and innovation landscape. He emphasized the government's initiation of the Rs 10,000-crore Fund of Funds for Startups (FFS) and the Rs 1-lakh crore R&D and Innovation (RDI) Scheme, designed to offer long-term, low-cost capital to private R&D via a specific SPV.

Minister for Large and Medium Industries MB Patil stated that from the Rs 5.56 lakh crore in investment pledges made for the manufacturing sector at the Invest Karnataka-2025 Global Investors Meet (GIM), Rs 3.4 lakh crore — approximately 62%- has already resulted in official project applications.

“This shows our post-MoU follow-up has been effective. Companies like Krones, Safran, TASL, and others have filed proposals, and many have begun groundwork,” he said.

The event, hosted by the Department for Promotion of Industry and Internal Trade within the Ministry of Commerce and Industry and the Confederation of Indian Industry, saw participation from over 100 key stakeholders and centered on innovation-driven growth, India’s increasing global competitiveness, and investment advancements in the state.

Union Minister for Commerce and Industry Piyush Goyal visited the KIADB Aerospace SEZ in Devanahalli on Saturday. During the visit, Goyal explored production facilities run by prominent aerospace firms, such as Safran HAL Aircraft Engines and Innomech Aerospace Toolings.

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These units specialize in high-precision manufacturing, avionics, and component design, highlighting India’s expanding presence in the international aerospace supply chain. The minister engaged with engineers, designers, and upper management of these companies, obtaining direct knowledge about the cutting-edge technologies being created and utilized locally. He praised the technical expertise, quality benchmarks, and innovative spirit exhibited by the firms functioning within the SEZ.

The minister conducted an engaging session with prominent leaders of the aerospace industry, reiterating the government's dedication to nurturing the sector's growth and enhancing local capabilities.

The meeting witnessed participation from various domestic and international aerospace firms active in India, including Innomech Aerospace Toolings, CIM Tools, Safran HAL Aircraft Engines, WIPRO Enterprises, Goodrich Aerospace Services, Magellan Aerospace, SASMOS HET Technologies, and others.