PM Modi launches Rs 1 lakh crore fund to boost R&D and private innovation

Prime Minister Narendra Modi on Monday said India was backing high-risk, high-impact research and development (R&D) projects and promoting private investment to build the country into a science and technology powerhouse.

Speaking at the inaugural Emerging Science, Technology and Innovation Conclave (ESTIC), the government’s new annual platform bringing together policy-makers, innovators, and global leaders, Modi said his government had introduced major reforms to strengthen the innovation ecosystem.

Prime Minister @narendramodi releases Vision Document and a Coffee table book at the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025 in New Delhi

Prime Minister also launches the ₹1 Lakh Crore Research, Development and Innovation (RDI) Scheme Fund, aimed at… pic.twitter.com/xfgozNJtCJ

— PIB India (@PIB_India) November 3, 2025

At the event, the prime minister launched a Rs one lakh crore Research, Development and Innovation Fund to encourage private sector investment in R&D. “This significant investment is aimed at benefiting the public and unlocking new avenues of opportunity,” he said.

Modi said the government’s goal was to nurture a strong research culture within the private sector. “For the first time, capital is being allocated specifically for high-risk, high-impact projects, ensuring support for ground-breaking endeavours,” he said.

When science meets scale,

When innovation becomes inclusive,

When technology drives transformation,

The foundation for great achievements is laid. pic.twitter.com/R3YH8kxhIS

— PMO India (@PMOIndia) November 3, 2025

He added that the government was focusing on “Ease of Doing Research” to enable innovation to thrive. “We have introduced significant reforms in financial regulations and procurement policies, streamlined incentives, and strengthened supply chain frameworks to accelerate the transition of prototypes from lab to market,” he said.

Modi said India’s R&D expenditure had doubled over the past decade, showing its growing commitment to innovation. “The number of registered patents has grown an impressive 17-fold. In the start-up landscape, India has emerged as the third-largest ecosystem globally,” he said.

The prime minister also highlighted the creation of the Anusandhan Research Foundation to promote research across universities and expand opportunities for innovation.

Today, India is shaping the global framework for ethical and human-centric AI. pic.twitter.com/rSUIJMRzSb

— PMO India (@PMOIndia) November 3, 2025

Emphasising inclusive innovation, Modi said women were playing a leading role in India’s scientific progress. “A decade ago, the number of patents filed by women in India was less than 100 annually. Today, that number has surged to over 5,000 each year,” he said.

He noted that women constitute 43 per cent of students in STEM education in India, well above the global average.

“The foundation for great achievements is laid when science meets scale, innovation becomes inclusive, and technology drives transformation,” Modi said. “Over the past 10–11 years, India has exemplified this vision in action. India is no longer just a consumer of technology. It has become a pioneer of transformation through technology.”