Nirmala Sitharaman highlights Govt support for R&D, Startups

Union Finance Minister Nirmala Sitaraman has said that the Government emphasis on building the economy and funding R&D activities including the private sector has created an enabling environment for talented young minds to pursue research and venture into tech driven start ups. She hoped that this will help restrain brain drain as opportunities are being created within the country. The minister was interacting with the students after inaugurating dhaRti bionest Incubation Centre at IIT Dharwad on Tuesday evening. Responding to the questions asked by the students, Nirmala Sitaraman said that the Young innovators can now focus on research and leave the rest to the incubation centres and funding partners. She pointed out that innovators must concentrate on innovation that transforms society and commercialisation and profit making will follow automatically. Responding to another question on women holding leadership roles, she noted that as she motivates her team, she also needs mentoring for the holistic approach. Speaking about Industry ready or job ready academic exercise, she informed that the Government is making all the efforts to link academia with industry.

The core business of young innovators is to keep innovating. Profitability comes only when they reach the stage of commercialisation and scaling up of production.

I would not want the confusion in the mind of a young innovator, about when he is going to be profitable, to hinder… pic.twitter.com/gFLvXR9TD5

— Nirmala Sitharaman Office (@nsitharamanoffc) October 14, 2025

On a question about the growth of the fintech industry in the country, the Finance Minister pointed out that India stands out in providing fintech solutions. Jan Dhan yojana has ensured financial inclusion, digital payments have reached 87 percent as against the global average of around 62 percent and account aggregators in the financial sector have improved credit availability to the deprived sectors. Nirmala Sitaraman emphasised that a necessary foundation is created in the Fintech sector for future requirements.