Union Minister of State (Independent Charge) for Science and Technology Jitendra Singh said the move gives timely relief to young innovators working on advanced technologies. He explained that the change will strengthen India’s startup ecosystem by offering early momentum to promising ideas.

The Minister noted that the Rs 1 lakh crore Research, Development and Innovation Fund targets startups with proven technological maturity. However, several schemes already support early-stage innovators through departments like DST, CSIR and TDB. By removing the three-year condition, the government allows deep-tech startups to scale faster.

Earlier, CSIR linked financial assistance, including loans of up to Rs 1 crore, to a minimum three-year existence. The government has now removed this requirement, while evaluation will still focus on technological maturity.

Addressing DSIR’s Foundation Day, the Minister highlighted strong industry participation and rising women involvement, with over 10,000 women beneficiaries. He also launched revised DSIR guidelines, new PRISM initiatives and a Disaster Management Plan, reinforcing India’s growing leadership in innovation.

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FM Sitharaman credited Prime Minister Narendra Modi’s leadership since 2014 for shaping India’s technology-driven growth. She noted that policy enablers and institutional reforms have strengthened governance and fostered an innovation ecosystem. According to her, India’s framework has positioned the country as a global hub for emerging technologies like artificial intelligence.

She also appreciated Andhra Pradesh Chief Minister N. Chandrababu Naidu for promoting technology-led growth, citing his role in Hyderabad’s development as an IT hub. “With his vision, Andhra Pradesh is ideal for India’s first AI hub,” FM Sitharaman said. She emphasized the synergy between central and state governments, which helps India maintain an edge in the global AI race.

The Finance Minister said proactive governance and enabling policies will help India achieve a developed nation status by 2047. “With today’s vision, India is well on the way to becoming a ‘Viksit Bharat’,” she concluded, highlighting the importance of forward-thinking leadership.

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