BENGALURU: Union Commerce and Industry Minister Piyush Goyal, who engaged with industry leaders, startups, deep-tech innovators and VCs at an interactive 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 underlined India’s improved global reputation for quality manufacturing, especially in sectors like electronics, pharmaceuticals, textiles, and defence, while highlighting the Centre’s efforts towards strengthening the country’s startup and innovation ecosystem. He highlighted the government’s launch of the Rs 10,000-crore Fund of Funds for Startups (FFS) and the Rs 1-lakh crore R&D and Innovation (RDI) Scheme, which aims to provide long-term, low-cost capital to private R&D through a dedicated SPV.
Minister for Large and Medium Industries MB Patil said that of the Rs 5.56 lakh crore worth of investment commitments made in the manufacturing sector during Invest Karnataka-2025 Global Investors Meet (GIM), Rs 3.4 lakh crore — around 62%, has already translated into formal 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 was organised by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, and Confederation of Indian Industry, had over 100 key stakeholders participating, and focused on innovation-led growth, India’s rising global competitiveness, and the progress of investments in the state.
GOYAL VISITS KIADB AEROSPACE SEZ, INTERACTS WITH INDUSTRY
Bengaluru: Union Minister for Commerce and Industry Piyush Goyal, visited the KIADB Aerospace SEZ in Devanahalli on Saturday. During the visit, Goyal toured production lines operated by leading aerospace companies, including Safran HAL Aircraft Engines and Innomech Aerospace Toolings. These units are engaged in high-precision manufacturing, avionics, and component design, showcasing India’s growing footprint in global aerospace supply chain.
The minister interacted with engineers, designers, and senior management of these enterprises, gaining first-hand insights into the state-of-the-art technologies being developed and deployed locally. He commended the technical sophistication, quality standards, and the spirit of innovation demonstrated by the companies operating within the SEZ.
Later, the minister also held an interactive session with leading heads of the aerospace industry, reaffirming the government’s commitment to fostering the growth of the sector and strengthening indigenous capabilities. The meeting witnessed participation from both domestic and global aerospace companies operating in India such as Innomech Aerospace Toolings, CIM Tools, Safran HAL Aircraft Engines, WIPRO Enterprises, Goodrich Aerospace Services, Magellan Aerospace, SASMOS HET Technologies. etc.