Last Updated on February 12, 2026 10:32 pm by BIZNAMA NEWS
Sudhir Kumar / New Delhi
Commerce and Industry Minister Piyush Goyal today said that India is at the cutting edge of technology and that this progress is possible only when both the government and the private sector encourage young innovators. He said this while addressing the INDovation, Medtech Innovation and Startup Showcase Programme in New Delhi. He urged medtech startups to expand globally by leveraging India’s expanding trade agreements covering nearly 70 percent of global GDP and scale affordable innovations to serve both India and the world.
Mr Goyal said that India has opened up huge markets through various trade agreements and noted that most developed countries now have free trade agreements with the nation. He also highlighted that startups will receive an 80 percent discount on Intellectual Property-related fees to support innovation. Speaking to the media, the Minister said that it is inspiring to see India’s innovation and startup ecosystem growing. He said that the enthusiasm and sense of service shown by the country’s innovators give him full confidence that India is moving on the right path.
The Minister also announced that three new National Institutes of Pharmaceutical Education and Research (NIPERs) are being established alongside the upgradation of seven existing NIPERs. He said that a new National Institute of Design (NID) will be set up in East India. He suggested that NID could assist startups in improving product design, visual appeal and overall quality, possibly through pro bono programmes.
