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Key Points

India is rapidly emerging as a global startup powerhouse with over 1.5 lakh registered startups and 120 unicorns. The government, particularly under Prime Minister Narendra Modi's leadership, is actively supporting entrepreneurial growth through strategic investments. State-owned companies like GAIL are playing a crucial role by expanding startup funds and creating job opportunities. This approach is transforming India's economic landscape and positioning the country as a key player in technological innovation.

Key Points: GAIL Boosts Startup Fund to Rs 500 Crore Under Modi Vision

  • GAIL increases startup investment fund from Rs 100 to Rs 500 crore
  • Supporting 38 startups across energy and technology sectors
  • 1,000 jobs created in three years
  • Part of Modi government's startup ecosystem push
2 min read

GAIL hikes startup investment fund to Rs 500 crore in FY25: Hardeep Puri

Union Minister Hardeep Puri reveals GAIL's massive startup investment expansion, supporting innovation in energy sector and job creation

"GAIL's startup initiative 'PANKH' is giving a new flight to the youth's startups - Hardeep Singh Puri"

New Delhi, May 6

GAIL (India) Limited increased its startup investment fund from Rs 100 crore to Rs 500 crore in FY25, Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Tuesday, as the country becomes the third largest startup ecosystem in the world.

In a post on X social media platform, the minister said there has been a startup revolution in Prime Minister Narendra Modi’s government.

“Country becomes the third largest startup ecosystem in the world. GAIL (India) Ltd’s startup initiative ‘PANKH’ is giving a new flight to the youth's startups. It is strengthening the country's energy power by promoting innovations in the field of energy,” Puri informed.

The Union Minister further informed that during the financial year 2024-25, the state-owned energy corporation has increased the startup investment fund from Rs 100 crore to Rs 500 crore.

“GAIL is supporting 38 startups related to natural gas, pipeline, petrochemical, energy, renewable energy, energy storage etc. These start-ups have created about 1,000 jobs in the last three years,” said Minister Puri.

The minister recently informed that six oil marketing companies (OMC) in India have invested Rs 290 crore from their Rs 550-crore startup fund -- nurturing 303 startups so far.

Hardeep Puri further stated that the country has over 1.5 lakh startups and 120 unicorns. “Contributing to this remarkable progress are the 6 Oil Marketing Companies under @PetroleumMin, which have created a Rs 550 crore startup fund. Already, Rs 290 crore has been invested to support 303 startups,” the Union Minister informed.

According to the minister, this is real empowerment, real impact, and a real vision for the "future-enabled by the far-sighted leadership of Prime Minister Narendra Modi".

The government, in the Union Budget 2025-26, made a substantial allocation towards developing deeptech and AI-enabled platforms through the Rs 10,000-crore Fund of Funds scheme.

With more than 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), India has firmly established itself as the key startup ecosystem in the world.

- IANS

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Reader Comments

R
Rahul K.
This is fantastic news! As someone working in Bengaluru's startup ecosystem, I've seen how government support can make a real difference. The 5x increase in GAIL's fund shows serious commitment to energy innovation. Hope more PSUs follow suit 🇮🇳
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Priya M.
While the numbers look impressive, I hope there's proper monitoring of how these funds are utilized. We've seen many startups fail despite govt funding. Focus should be on sustainable businesses, not just headline numbers.
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Arjun S.
Great initiative! But why limit to energy sector? India needs innovation in agriculture tech too. Our farmers could benefit massively from similar funding schemes. Hope other ministries take note 👏
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Neha T.
As a woman entrepreneur, I appreciate the 'PANKH' initiative name - it's poetic and meaningful. But would love to see specific provisions for women-led startups in these funds. We need more representation in energy sector!
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Vikram J.
1,000 jobs in 3 years is good, but we need 10x this impact. With India's youth population, energy startups should focus on mass employment generation along with innovation. More power to GAIL! 💪
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Sunita R.
Happy to see focus on renewable energy startups. Climate change is real and India must lead in green tech. Hope these funds help develop affordable clean energy solutions for villages too 🌱

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