In April 2025, Union Minister of Commerce & Industry, Shri Piyush Goyal announced that Second Fund of Funds for Startups worth Rs. _____ crore to boost deep-tech and early-stage innovation has been approved.
Show answer & explanation
Correct answer: A
Explanation
Second Fund of Funds for Startups -
In April 2025, Union Commerce and Industry Minister Shri Piyush Goyal made a major announcement to strengthen India's startup ecosystem during the 'Startup Mahakumbh 2025'.
Approval Amount: The government has approved a second 'Fund of Funds for Startups' (FFS) of ₹10,000 crore.
Key Focus: A large portion of this fund is reserved for deep-tech and early-stage innovations. This includes areas such as artificial intelligence (AI), quantum computing, robotics, biotech, and semiconductor design.
Objective: Deep-tech startups often require long-term capital. This fund will provide them with early-stage financial support to reduce their dependence on foreign investment and preserve their equity.
Operations: The fund will be managed by SIDBI.