GAIL Boosts Startup Investment Fivefold to Fuel Innovation

GAIL (India) Limited has increased its investment corpus for startups from ₹100 crore to ₹500 crore for the financial year 2024–25, signaling a strong push to energize India’s startup ecosystem. This announcement was made by Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday.

Posting on X (formerly Twitter), Hardeep Singh Puri emphasized the rapid growth of India's startup sector under Prime Minister Narendra Modi’s leadership. “India is now the third-largest startup ecosystem globally. GAIL’s ‘PANKH’ initiative is nurturing fresh talent and innovation in the energy domain,” he shared.

Currently, GAIL supports 38 startups across sectors, including natural gas, petrochemicals, pipelines, renewables, energy storage, and emerging technologies. These ventures have generated around 1,000 jobs in the past three years.

Hardeep Singh Puri also highlighted the collaborative efforts of six major Oil Marketing Companies (OMCs), which have jointly invested ₹290 crore from their combined ₹550-crore startup fund. This has enabled the launch of 303 startups nationwide.

With over 1.5 lakh registered startups and 120 unicorns, India is cementing its role as a hub for global innovation. “This is empowerment in action, a testament to PM Modi's transformative vision,” the minister noted.

Looking ahead, the Union Budget 2025–26 has earmarked ₹10,000 crore under the Fund of Funds program to support deep-tech and AI-led startups, reinforcing the government’s focus on future-ready innovation.

According to the Department for Promotion of Industry and Internal Trade (DPIIT), more than 1.59 lakh startups have been officially recognized to date, underscoring India’s leadership in entrepreneurship and technological advancement.