Piyush Goyal launches new innovation initiative to strengthen deep-tech, promote sustainability, and accelerate circular economy solutions in plastics.
New Delhi
Union Commerce and Industry Minister Piyush Goyal on Monday reaffirmed the government’s dedication to fostering India’s deep-tech ecosystem, easing business operations, reducing regulatory burdens, and encouraging innovation. He was speaking at the launch of the ‘Startup Search Initiative,’ a joint effort by IIM Calcutta Innovation Park (IIMCIP) and PlastIndia Foundation, designed to support pioneering startups in the plastics sector.
The launch event, held simultaneously in New Delhi, Kolkata, and Mumbai, marked a major step toward advancing India’s sustainability and innovation goals. Goyal emphasized the importance of technology and entrepreneurship in reshaping the plastics industry, particularly in achieving India’s vision of 100 per cent reuse and recycling of plastic waste.
The government is committed to strengthening India’s deep-tech ecosystem, enhancing ease of doing business, reducing compliance burden, and promoting innovation and entrepreneurship, Goyal said. He expressed confidence that this initiative would accelerate the transition of the plastics industry toward environmentally responsible and circular practices, in alignment with global sustainability benchmarks.
The Startup Search Initiative aims to identify high-potential innovators and connect them with investors, industry experts, and funding opportunities. The program will prioritize startups working in areas such as plastic waste recycling, alternative materials, circular economy models, and energy-efficient processes.
Selected startups will also gain the opportunity to present their solutions at PLASTINDIA 2026, one of the largest plastics exhibitions in the country, scheduled for next February in New Delhi under the theme Bharat Next. This platform is expected to provide innovators a global stage to showcase cutting-edge technologies and sustainable strategies.
Ravish Kamath, President of PlastIndia Foundation, noted that partnering with IIM Calcutta would enable the identification of innovative solutions through a nationwide startup challenge. The initiative, he said, represents a crucial step toward supporting both environmental goals and industrial transformation in India’s plastics sector.
