In a major boost to the country’s R&D ecosystem, the Prime Minister launched the Rs 1 lakh crore Research, Development and Innovation (RDI) Scheme Fund. The scheme aims to promote a private sector–driven research and development ecosystem across India. The announcement was made at the inauguration of the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025 at Bharat Mandapam, New Delhi, on November 3, 2025. Speaking on the occasion, the Prime Minister welcomed scientists from India and abroad, innovators, members of academia, and other distinguished guests.
Focus on Emerging Technologies
ESTIC 2025, held from November 3-5, 2025, will bring together over 3,000 participants from academia, research institutions, industry, and government, along with Nobel Laureates, eminent scientists, innovators, and policymakers. According to the Prime Minister’s Office, deliberations will focus on 11 key thematic areas, including Advanced Materials and Manufacturing, Artificial Intelligence (AI), Bio-Manufacturing, Blue Economy, Digital Communications, Electronics and Semiconductor Manufacturing, Emerging Agriculture Technologies, Energy, Environment and Climate, Health and Medical Technologies, Quantum Science and Technology, and Space Technologies.
Two-Tiered Fund Structure
The Department of Science and Technology (DST) will serve as the nodal ministry for the fund, which will operate through a two-tiered structure. At the first level, a Special Purpose Fund (SPF) under the Anusandhan National Research Foundation will act as the custodian. Rather than investing directly in startups or companies, the SPF will channel capital through a second layer of professional fund managers.
These include Alternate Investment Funds (AIFs), Development Finance Institutions (DFIs), Non-Banking Financial Companies (NBFCs), and Focused Research Organisations (FROs) such as the Technology Development Board (TDB), Biotechnology Industry Research Assistance Council (BIRAC), and IIT Research Parks.
Financing under the RDI fund will take the form of long-term, low-interest — or in some cases, interest-free — loans, equity infusion (especially for startups), and allocations to the deeptech fund of funds. The scheme doesn’t support grants and short-term loans, according to a Business Standard report dated November 3, 2025.
Rs 1 Lakh Crore Fund for R&D
Underlining that the 21st century is a period of unprecedented transformation, the Prime Minister remarked that the global order is witnessing a new shift, and the pace of change is not linear but exponential. With this perspective, India is advancing various aspects related to emerging science, technology, and innovation, maintaining a consistent focus on them.
As an example, he highlighted the area of research funding and recalled the familiar national vision of ‘Jai Jawan, Jai Kisan', noting that with a renewed emphasis on research, ‘Jai Vigyan’ and ‘Jai Anusandhan’ have been added to this vision. He informed that the Anusandhan National Research Foundation has been established to scale up research and innovation in Indian universities. Additionally, the Prime Minister announced the launch of the Research, Development and Innovation Scheme, with an allocation of Rs 1 lakh crore. He emphasized that efforts are being made to promote research and development in the private sector as well. “For the first time, capital is being made available for high-risk and high-impact projects”, stated Modi.
“India is working to build a modern innovation ecosystem and is focusing on improving the ease of doing research”, said the Prime Minister, highlighting that the government has undertaken several reforms in financial rules and procurement policies. Additionally, reforms have been made in regulations, incentives, and supply chains to ensure that prototypes can swiftly move from lab to market.
Emphasising that the policies and decisions taken in recent years to make India an innovation hub are now showing clear results, the Prime Minister shared key statistics. India's R&D expenditure has doubled in the last decade; the number of registered patents has increased 17 times; and India has become the world’s third-largest startup ecosystem. He noted that over 6,000 deep-tech startups in India are currently working in areas such as clean energy and advanced materials.
The Prime Minister added that India’s semiconductor sector is now taking flight. He also highlighted the growth of India’s bio-economy, which has expanded from USD 10 billion in 2014 to approximately USD 140 billion today.
“When science is scaled, innovation becomes inclusive, and technology drives transformation, it lays the foundation for major achievements”, remarked the Prime Minister, noting that India’s journey over the past 10–11 years exemplifies this vision. India is no longer merely a consumer of technology, but has become a pioneer of transformation through technology, said Modi. He recalled that during the COVID-19 pandemic, India developed an indigenous vaccine in record time and conducted the world’s largest vaccination programme.
Reflecting on how India has been able to successfully implement policies and programmes at such a mammoth scale, the Prime Minister attributed this achievement to India’s world-leading Digital Public Infrastructure. He highlighted that over two lakh gram panchayats have been connected through optical fibre and mobile data has been democratised across the country. Modi noted that while India’s space programme has reached the Moon and Mars, it has also been harnessed to benefit farmers and fishermen through space science applications.
In the field of patent filing, he pointed out that a decade ago, fewer than 100 patents were filed annually by women in India, whereas today the number exceeds 5,000 per year.
Empowering the Next Generation
The Prime Minister emphasized the importance of harnessing this growing inquisitiveness in the younger generation. He stated that the more bright youngsters India can guide towards science, technology, and innovation, the better it will be for the nation. In line with this vision, he informed that nearly 10,000 Atal Tinkering Labs have been established across the country, where over one crore children are conducting experiments with curiosity and creativity. He announced that, encouraged by the success of these labs, 25,000 new Atal Tinkering Labs will be set up.
Highlighting the success of the Prime Minister’s Research Fellowship among young researchers—whose grants have provided significant support—Modi announced that over the next five years, 10,000 fellowships will be awarded to further strengthen R&D in the country.
Building Ethical and Human-Centric AI for the Future
The Prime Minister emphasized the need to understand the transformative power of science and technology, and to ensure that they remain ethical and inclusive. Citing Artificial Intelligence as an example, he noted its widespread applications, from retail and logistics to customer service and children’s homework. He affirmed that India is working to make AI beneficial for every section of society. Under the India AI Mission, an investment of over Rs 10,000 crore is being made.
“India is shaping a global framework for ethical and human-centric AI,” highlighted the Prime Minister, mentioning that the upcoming AI Governance Framework will be a major step in this direction, aiming to develop innovation and safety together. He announced that India will host the Global AI Summit in February 2026, which will accelerate efforts towards inclusive, ethical, and human-centric AI.
PM Calls for Innovation-Led Self-Reliance
Calling for intensified efforts in emerging areas, which are crucial for achieving the goal of a developed India, Modi shared several ideas, urging a shift from food security to nutrition security.
He posed key questions: Can India develop next-generation biofortified crops to help combat malnutrition globally? Can innovations in low-cost soil health enhancers and bio-fertilisers serve as alternatives to chemical inputs and improve soil health? Can India better map its genomic diversity to advance personalised medicine and disease prediction? Can new and affordable innovations be developed in clean energy storage, such as batteries? He stressed the importance of identifying critical inputs where India is dependent on the world and achieving self-reliance in those areas.
Union Minister Jitendra Singh, Principal Scientific Adviser to the Government of India Ajay Kumar Sood, Nobel Laureate Andre Geim, and other dignitaries were present at the event.
