Higher R&D spend, a booster for start-ups

India is making major strides in innovation, with gross expenditure on research and development (R&D) more than doubling over the last decade—from ₹60,196 crore in 2013–14 to ₹1,27,381 crore in 2024–25.

Listen to this article

This sharp rise in R&D investment is matched by an unprecedented boom in the startup ecosystem, which has grown from just 350 startups in 2014 to over 1.5 lakh in 2025. With this expansion, India has emerged as the third-largest startup hub globally.

These developments were highlighted by Union Minister of State (Independent Charge) for Science & Technology, Dr Jitendra Singh, while inaugurating a new incubation centre at IIM Mumbai.

He stressed the urgent need for stronger collaboration between academic institutions like IITs, IIMs, AIIMS, IIMC, and CSIR, and scientific research bodies to build sustainable, innovation-driven startups. Calling for a break from outdated practices, Singh pointed out that “the age of working in silos is over” and stressed the importance of public-private synergy in achieving India’s developmental goals.

The Union Minister also sought to dispel the myth that startup success is confined to elite IT graduates. He underlined that startups thrive on aptitude and innovative thinking, not just prestigious degrees. Pointing to initiatives like the Aroma Mission, which has created over 3,000 lavender-based startups in rural India, he illustrated how innovation is transforming even traditional sectors like agriculture.

Singh attributed much of India’s progress to forward-looking policies by the present Central Government. These include allowing 100% FDI in the space sector, launching a ₹1,000 crore venture fund for space-tech startups, and introducing the BioE3 Policy—Biotechnology for Economy, Environment, and Employment—which he called a game-changer for India’s biotech leadership. Singh also highlighted how the National Education Policy (NEP-2020) is enabling students to become innovators by offering academic flexibility and a holistic learning environment.

The Minister pointed to the rise of women-led development and the democratization of civil services as additional signs of India’s transformation. He noted that recent landmark missions like Aditya L1 have been led by women scientists and that girls have consistently topped the Civil Services Examination in recent years.

Singh also shared an inspiring story of a 16-year-old girl from a conflict-affected area who cleared the IIT entrance exam without coaching, relying solely on her smartphone and determination. “This is the new India,” he said, “where dreams transcend limitations.”

Latest

India Post records highest ever Q1 revenue

The Minister held Business Review Meeting with all 23...

MRF ranked India’s most valuable tyre brand

The company also featured among the Top 50 most...

Aditya Birla Group buys Shell’s renewable arm for $1.8 bln

The company will make the acquisition from Shell Overseas...

TVS Emerald to develop residential project in West Chennai

The Koyembedu–Poonamallee corridor, a rapidly expanding residential micro-market that...

Newsletter

Don't miss

India Post records highest ever Q1 revenue

The Minister held Business Review Meeting with all 23...

MRF ranked India’s most valuable tyre brand

The company also featured among the Top 50 most...

Aditya Birla Group buys Shell’s renewable arm for $1.8 bln

The company will make the acquisition from Shell Overseas...

TVS Emerald to develop residential project in West Chennai

The Koyembedu–Poonamallee corridor, a rapidly expanding residential micro-market that...

Retail Inflation crosses 4% in June

“Food inflation contributed 185 basis points (bps), while non-food...

India Post records highest ever Q1 revenue

The Minister held Business Review Meeting with all 23 Circles of India Post, which reviewed performance and charted the roadmap for the months ahead. India...

MRF ranked India’s most valuable tyre brand

The company also featured among the Top 50 most valuable brands in India across sectors in the report. Brand Finance India report, unveiled under the...

Aditya Birla Group buys Shell’s renewable arm for $1.8 bln

The company will make the acquisition from Shell Overseas Investment B.V and the transaction is amongst the largest acquisitions in India’s renewable energy sector...