Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh said that India achieved global Rank 3 in StartUps in last one decade and reaffirmed the Union Government’s commitment to making India a global innovation hub, highlighting the Rs 20,000 crore allocation in Budget 2025-26 for the Research, Development, and Innovation initiative.

• He explained that the initiative aims to boost research and innovation in the private sector, with a strong focus on expanding efforts in sunrise industries
• The announcement builds on the Rs 1 lakh crore corpus introduced in Budget 2024-25 to accelerate Research and Development (R&D) in the private sector.
• Dr Singh mentioned that the nation has made significant strides in innovation, with patent grants increasing 17 times since 2014 and the position in the Global Innovation Index rising from 81st to 39th among 133 economies.