Government Advances Fund of Funds Phase II and Startup Support Initiatives

Union Commerce and Industry Minister Piyush Goyal announced that guidelines for the second phase of the Rs 10,000 crore Fund of Funds scheme for startups are nearing completion, focusing on deep tech and high-tech sectors like defence and aerospace. The government plans to create a separate segment for startups under the Export Promotion Mission to help them access global markets. Goyal highlighted growing youth confidence in entrepreneurship and encouraged startups to leverage free trade agreements and international collaborations to expand globally.