New Delhi, July 7 -- Union Commerce and Industry Minister Piyush Goyal announced a second tranche of Rs 10,000 crore to promote innovation and strengthen India's deep tech ecosystem.

The announcement was made at the sixth edition of IIT Madras and IITM Alumni Association's Sangam 2025 event in Bengaluru.

Goyal stated that the government is formulating guidelines to ensure the funds are directed towards promoting innovation, facilitating the absorption of newer technologies, and supporting the development of contemporary technologies.

This latest allocation is part of the flagship Fund of Funds (FoF), which was first announced by Union Finance Minister Nirmala Sitharaman during the Union Budget for 2025-26.

The Fund of Funds scheme was...