Latest news with #Sangam2025
Time of India
7 hours ago
- Business
- Time of India
India commits second tranche of Rs 10,000 crore to support deep tech: Piyush Goyal
Academy Empower your mind, elevate your skills Union commerce and industry minister Piyush Goyal has announced a second tranche of Rs 10,000 crore to promote innovation and strengthen the deep tech ecosystem 'We are formulating guidelines to ensure that this money is directed towards promoting innovation, facilitating the absorption of newer technologies, and supporting the development of contemporary technologies,' Goyal said at the sixth edition of IIT Madras and IITM Alumni Association's Sangam 2025 event in current fund, part of the flagship Fund of Funds (FoF) , was first announced by union finance minister Nirmala Sitharaman during the Union Budget for 2025-26. The scheme was originally launched in 2016 with an initial corpus of Rs 10,000 crore.'The aspirations and dreams of a young country with one of the youngest populations globally are driving R&D, technology, and our startup ecosystem,' he is the third-largest startup ecosystem in the world, after the US and China, according to the Economic Survey 2021-22. Goyal also noted that India has moved from being the world's 11th largest economy in 2014 to the fifth-largest today and is expected to become the third-largest by 2027.'New technologies will define India's growth story in the coming years. I am confident that the 60,000-strong IIT Madras alumni network will play a key role in supporting the country's technological advancement,' he added.
Hans India
12 hours ago
- Health
- Hans India
Piyush Goyal slams CM for insulting Indian scientists, drugmakers
Bengaluru: Union Commerce and Industry Minister Piyush Goyal on Saturday criticised Karnataka Chief Minister Siddaramaiah for suggesting a link between Covid-19 vaccines developed in India and the sudden deaths. Speaking to the media, on the sidelines of IIT Madras Alumni Association's Sangam 2025 event in Bengaluru, Piyush Goyal praised the Indian scientists for developing Covid vaccine in record time and the pharmaceutical sector for making it cost-effective. 'Fake narratives can't dilute the extraordinary work done by our scientists and the pharma industry in our fight against Covid,' said Goyal. 'Such a big country like India was able to provide 250 crore vaccines for free, because the companies of our country had the strength to make the vaccine at a much lower cost,' he added. His comments come in the wake of Siddaramaiah's recent post on social media platform X on 'the hasty approval and distribution of the Covid vaccine to the public'. The CM linked it to the more than 20 heart attack-related deaths seen in Karnataka's Hassan district in just 40 days. The Union Health Ministry, along with several scientists as well as pharma associations, has denied any link between Covid vaccines and the reported sudden deaths. A joint clarification from the Indian Council of Medical Research (ICMR), All India Institute of Medical Sciences (AIIMS), and the National Centre for Disease Control (NCDC) stated that ongoing surveillance and analyses have not revealed any significant deviation in patterns of cardiac-related deaths since before the pandemic. 'I feel that the Chief Minister here does not disrespect, he insults, and when he insults our scientists, our pharmacy, then I do not know what is the motive behind it?' Goyal said. 'Apologise to the Indian scientists and the pharmaceutical sector,' he added. He also asked whether the CM and the Congress are working at the behest of foreign powers. Are these the foreign powers whose agenda they are running here, are the foreign powers who want to lure India's pharmacy, are they troubled by India's economic progress and development,' Goyal said.
&w=3840&q=100)
Business Standard
21 hours ago
- Health
- Business Standard
Piyush Goyal seeks apology from CM Siddaramaiah over remarks on vaccine
Union Minister Piyush Goyal on Saturday demanded that Karnataka Chief Minister Siddaramaiah apologise to the country's scientists and pharmaceutical sector for his recent remarks linking COVID-19 vaccines to a spate of heart attack deaths in the state and questioned whether he was "running the agenda of foreign forces". Accusing the Chief Minister of "insulting" India's scientists, startups, and its pharmaceutical strength, Goyal said his comments undermine the people who worked tirelessly during the pandemic. According to Goyal, it is "unfortunate" that such remarks are coming from the CM of a country that is known as the 'pharmacy of the world', a country where our startups are expanding and forming an ecosystem, a country where our vaccines were exported on a large scale to other nations. This was possible only because our pharmaceutical companies had the strength and innovation to produce vaccines at a cost of less than Rs 100, he told reporters here. Lauding the pharmaceutical companies, he said they made India proud. "We didn't just roll out one vaccine, but two. The country was able to provide free vaccines to our entire population... He insulted our scientists and pharmaceutical companies," he claimed. "Is he running the agenda of foreign forces that want to harm India's pharmaceutical sector, disturbed by India's financial growth? Whether it is the Congress party, the CM, or all their partners, do they want to strengthen the hands of foreign forces by demeaning India? He should answer and apologise to our scientists and pharmaceutical companies," he further alleged. Earlier, addressing the IIT Madras Alumni Association's Sangam 2025 event here, he added that Siddaramaiah does not take pride in India's success or its startups and scientists. Instead, he is "ashamed of India and its startups achieving such remarkable success." He credited Bharat Biotech for developing India's first indigenous COVID-19 vaccine, Covaxin, and Oxford-AstraZeneca for granting rights to produce Covishield at Pune-based Serum Institute of India. "We were not only able to provide 2.5 billion vaccines free of charge to all our citizens, but also supplied vaccines to over 100 nations, particularly less developed or developing countries that otherwise had no protection against this disease," he said. Goyal pointed out that even today, India is being thanked for the medicines and vaccines it provided to other nations during the pandemic. "They (Congress) want to run down India's success stories, and it pains us when we hear this kind of negativity coming from certain sections of society," he alleged. Neither the Congress nor Siddaramaiah has responded to Goyal's claims so far.
Time of India
21 hours ago
- Politics
- Time of India
Piyush Goyal demands apology from CM Siddaramaiah over vaccine remarks
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Union Minister Piyush Goyal on Saturday demanded that Karnataka Chief Minister Siddaramaiah apologise to the country's scientists and pharmaceutical sector for his recent remarks linking COVID-19 vaccines to a spate of heart attack deaths in the state and questioned whether he was "running the agenda of foreign forces".Accusing the Chief Minister of "insulting" India's scientists, startups, and its pharmaceutical strength, Goyal said his comments undermine the people who worked tirelessly during the to Goyal, it is "unfortunate" that such remarks are coming from the CM of a country that is known as the 'pharmacy of the world', a country where our startups are expanding and forming an ecosystem, a country where our vaccines were exported on a large scale to other was possible only because our pharmaceutical companies had the strength and innovation to produce vaccines at a cost of less than Rs 100, he told reporters the pharmaceutical companies, he said they made India proud."We didn't just roll out one vaccine, but two. The country was able to provide free vaccines to our entire population... He insulted our scientists and pharmaceutical companies," he claimed."Is he running the agenda of foreign forces that want to harm India's pharmaceutical sector, disturbed by India's financial growth? Whether it is the Congress party, the CM, or all their partners, do they want to strengthen the hands of foreign forces by demeaning India? He should answer and apologise to our scientists and pharmaceutical companies," he further addressing the IIT Madras Alumni Association's Sangam 2025 event here, he added that Siddaramaiah does not take pride in India's success or its startups and scientists. Instead, he is "ashamed of India and its startups achieving such remarkable success."He credited Bharat Biotech for developing India's first indigenous COVID-19 vaccine, Covaxin , and Oxford-AstraZeneca for granting rights to produce Covishield at Pune-based Serum Institute of India "We were not only able to provide 2.5 billion vaccines free of charge to all our citizens, but also supplied vaccines to over 100 nations, particularly less developed or developing countries that otherwise had no protection against this disease," he pointed out that even today, India is being thanked for the medicines and vaccines it provided to other nations during the pandemic."They (Congress) want to run down India's success stories, and it pains us when we hear this kind of negativity coming from certain sections of society," he the Congress nor Siddaramaiah has responded to Goyal's claims so far.
Time of India
21 hours ago
- Business
- Time of India
IIT Madras to launch Rs 200 crore VC fund
BENGALURU: IIT Madras is setting up a Rs 200 crore venture capital fund to invest in startups emerging from the institution, Director Prof V. Kamakoti announced at the annual alumni gathering Sangam 2025 on Saturday. The fund, titled the IITM Alumni Fund, will mark a first-of-its-kind initiative in India's academic landscape, directly linking alumni capital with institute-affiliated entrepreneurship. 'All of you can invest,' Prof. Kamakoti told the alumni audience. 'This is your opportunity to work with great startups and technologies, and to grow along with your alma mater.' The fund aims to support early-stage companies founded by IIT Madras students, faculty, and alumni, and will invite contributions from the global IITM alumni network. Kamakoti cited the Tamil phrase, loosely translated as 'giving returns to the giver,' to underline the dual value proposition of impact and returns. While operational details are yet to be formally released, the fund's vision is bold: By 2032, Kamakoti wants to see one IPO per month from the IITM startup ecosystem. 'If IIT Madras can't do it, I don't think India can,' he said. Speaking at the event, another faculty member added that this initiative is likely the first such VC fund by an Indian academic institution aimed exclusively at nurturing its startup ecosystem. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ford&Go. Extra Bonus di € 1.500 e prima rata a ottobre. Ford Italia Scopri di più Undo 'We hope this will give rise to dozens of Tarun Mehtas,' they said, referring to the Ather Energy cofounder and IITM alumnus. The announcement comes at a time when IIT Madras has emerged as one of the country's most prolific academic incubators, credited with spawning deeptech ventures across electric mobility, AI, and space tech. The fund is expected to institutionalise that pipeline and scale it with alumni-backed capital. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
