New Delhi: The government will provide Rs 20,000 crore for promoting innovation in partnership with the private sector, Finance Minister Nirmala Sitharaman said Saturday.
Presenting Union Budget 2025-26, she also said the government will launch export promotion mission with specified target for easy credit access.
Sitharaman further said the Centre will set up a national framework for promoting global capability centres in emerging Tier-II cities.
Investing in Research, Development and Innovation
₹ 20,000 crore for private-sector driven Research, Development and Innovation initiative announced in the July Budget#ViksitBharatBudget2025 #Budget2025 #UnionBudget2025 pic.twitter.com/TW9oU7DOsB— Ministry of Finance (@FinMinIndia) February 1, 2025
In order to strengthen the economy’s integration with global supply chains, she also said the government will provide support for domestic manufacturing capacity.
The finance minister also announced plans to set up Bharat Trade Net, a digital public infrastructure, for international trade.