NATIONAL

Piyush Goyal Urges Support for Young Innovators, Medtech Startups to Go Global

• 12 Feb 2026

Union Commerce and Industry Minister Piyush Goyal on Thursday emphasized the need for both the government and private sector to support young innovators, calling it essential for India’s technological progress. He made these remarks while addressing the INDovation, Medtech Innovation and Startup Showcase Programme in New Delhi.

Mr. Goyal encouraged medtech startups to expand globally, leveraging India’s trade agreements that cover nearly 70 percent of the world’s GDP, and to scale affordable innovations for both domestic and international markets. He highlighted that startups would receive an 80 percent discount on Intellectual Property-related fees to boost innovation and noted that India’s free trade agreements with developed countries open up huge market opportunities.

The Minister also announced the establishment of three new National Institutes of Pharmaceutical Education and Research (NIPERs) and the upgradation of seven existing ones. Additionally, a new National Institute of Design (NID) will be set up in East India, which could help startups enhance product design, visual appeal, and overall quality through pro bono programs.

Speaking to the media, Mr. Goyal expressed confidence in India’s innovation ecosystem, praising the enthusiasm and service-oriented mindset of the country’s young innovators.