Modi launches ₹1 lakh cr scheme to boost private R&D

NEW DELHI: Prime Minister Narendra Modi on Monday said that India is backing high risk, high impact research and development projects and encouraging private investments in this domain to transform the country into a science and technology powerhouse.

Addressing the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025 at Bharat Mandapam in New Delhi, the Prime Minister said India is working to build a modern innovation ecosystem and improve the ease of doing research.

Modi announced the launch of the Research, Development and Innovation (RDI) Scheme, with an allocation of ₹1 lakh crore to promote a private sector-driven R&D ecosystem. For the first time, he said, capital is being made available for high-risk and high-impact projects.

He noted that the global order is undergoing a major shift, with change happening at an exponential pace, and said India is advancing multiple aspects of emerging science, technology, and innovation with consistent focus.

The Prime Minister said the Anusandhan National Research Foundation has been set up to scale up research and innovation in Indian universities. He added that reforms have been introduced in financial rules, procurement policies, and regulations to enable faster movement of prototypes from lab to market.

Modi highlighted that India’s R&D expenditure has doubled in the past decade, the number of registered patents has risen 17 times, and the country has emerged as the world’s third-largest startup ecosystem. Over 6,000 deep-tech startups are working in areas such as clean energy, advanced materials, and quantum computing, he said.

The Prime Minister also pointed out that India’s bio-economy has grown from $10 billion in 2014 to around $140 billion today, and that the country’s semiconductor sector is taking off. He said India is making significant progress in green hydrogen, deep-sea research, and critical minerals.

“When science is scaled, innovation becomes inclusive, and technology drives transformation—it lays the foundation for great achievements,” Modi said, adding that India’s progress over the past decade reflects this vision.

He said India is no longer merely a consumer of technology, but a pioneer of transformation through technology. Recalling India’s indigenous vaccine success during the Covid-19 pandemic, he said the country conducted the world’s largest vaccination drive.

The Prime Minister attributed India’s large-scale technological success to its Digital Public Infrastructure, which has connected over two lakh gram panchayats through optical fibre and made mobile data affordable and accessible.

He said India’s space programme, which has reached the Moon and Mars, is also serving farmers and fishermen through space-based applications. Concluding his address, Modi said that when innovation is inclusive, its beneficiaries also become leaders of change.