India, April 5 -- Commerce minister Piyush Goyal has said that the government plans to allocate a substantial portion of the INR 10,000 Cr fund of funds (FoF) for startups for the deeptech sector.

Speaking at the Startup Mahakumbh, Goyal said that the allocation will mobilise "patient capital" for research-oriented startups. This, the minister said, would foster the development of cutting-edge technologies in emerging areas such as AI, quantum computing and robotics.

"We on our part, through the new fund of funds of INR 10,00 Cr, will give a substantial allocation for deeptech. This will mobilise patient capital for R&D focus on startups. Our aim will be to foster the development of cutting-edge technologies such as AI, robotics, quantu...