Events

India Modi Launches INR 1 Lakh Crore Innovation Fund, Calls for Ethical, Inclusive Tech Growth

By A Correspondent

New Delhi: Prime Minister Narendra Modi, on Nov. 3, 2025, inaugurated the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025 at Bharat Mandapam, New Delhi, unveiling a bold vision to propel India into the forefront of global scientific and technological innovation.

The Prime Minister announced the launch of an INR 100,000 crore Research, Development and Innovation (RDI) Fund to strengthen the country’s research ecosystem and encourage private-sector-led innovation.

The announcement comes just a day after India achieved another milestone in space technology with the successful launch of its heaviest communication satellite.

Congratulating Indian scientists and ISRO for the achievement, PM Modi said India’s rapid progress in science and innovation symbolised its growing global leadership in technology-driven transformation.

India's Prime Minister Narendra Modi (Centre, front row) during the inauguration of the Emerging Science, Technology and Innovation Conclave 2025 at Bharat Mandapam, in New Delhi on Nov. 3, 2025.
Photo: India’s Prime Minister Narendra Modi (Centre, front row) during the inauguration of the Emerging Science, Technology and Innovation Conclave 2025 at Bharat Mandapam, in New Delhi on Nov. 3, 2025. Credit: PIB

A New Era for Indian Research and Innovation

Calling the 21st century a time of “exponential change,” Modi said India is advancing rapidly across new frontiers of science and technology with an unwavering focus on research, innovation, and inclusivity.

He recalled India’s evolution from “Jai Jawan, Jai Kisan” (Victory to the Soldier, Farmer) to “Jai Vigyan, Jai Anusandhan” (Victory to Science and Research), underscoring the government’s deep commitment to scientific research.

The Prime Minister highlighted the creation of the Anusandhan National Research Foundation and the new RDI Scheme to scale up research in Indian universities and promote industry-led Research and Development (R&D).

“For the first time, capital is being made available for high-risk, high-impact projects,” he said, adding that reforms in procurement, regulations, and incentives are enabling a faster transition of prototypes from labs to markets.

India’s Innovation Ecosystem on the Rise

Modi shared striking figures to demonstrate India’s transformation into a global innovation powerhouse. Over the past decade, India’s R&D expenditure has doubled, patent registrations have increased 17-fold, and the country now ranks as the world’s third-largest startup ecosystem.

With more than 6,000 deep-tech startups working on areas like clean energy and advanced materials, India’s semiconductor and bio-economy sectors are also witnessing robust growth, the latter expanding from USD 10 billion in 2014 to nearly USD 140 billion today.

The Prime Minister further highlighted India’s advancements in sunrise sectors such as green hydrogen, quantum computing, deep sea exploration, and critical minerals.

“India is no longer a consumer of technology but a pioneer of transformation through it,” he said, citing the country’s success in developing an indigenous COVID-19 vaccine and executing the world’s largest vaccination drive.

Empowering Women and Youth in Science

Emphasising inclusive innovation, Modi hailed the growing role of Indian women in science and technology. “A decade ago, fewer than 100 patents were filed by women annually; today that number exceeds 5,000,” he said. Women now account for 43% of STEM enrollments, higher than the global average.

To nurture scientific curiosity among youth, the Prime Minister announced the establishment of 25,000 new Atal Tinkering Labs in addition to the 10,000 already operating nationwide, where over one crore students experiment with creative ideas.

He also announced 10,000 new Prime Minister’s Research Fellowships over the next five years to strengthen India’s research capacity.

Focus on Ethical AI and Global Collaboration

Turning to Artificial Intelligence, Modi underlined India’s commitment to developing ethical and human-centric AI. He revealed that over INR 10,000 crore has been allocated under the India AI Mission and announced that India will host the Global AI Summit in February 2026. “India is shaping a global framework for responsible AI governance,” he said.

The Prime Minister urged scientists and innovators to focus on emerging challenges — from nutrition security and biofortified crops to clean energy storage and genomic research — to achieve self-reliance in critical technologies. “Science, when scaled; innovation, when inclusive; and technology, when transformativeโ€”create history,” he remarked.

A Conclave to Shape the Future

The three-day ESTIC 2025, being held from Nov. 3 to 5, brings together over 3,000 participants, including Nobel Laureates, eminent scientists, policymakers, and innovators.

The event will feature deliberations across 11 thematic areas, including AI, quantum technologies, bio-manufacturing, space, and green energy, aiming to chart a roadmap for India’s innovation-driven growth.

Concluding his address, Modi expressed confidence that ESTIC 2025 would inspire a new generation of scientists and innovators to take India’s scientific capabilities to the next level. “Let us move forward together with the spirit of Jai Vigyan, Jai Anusandhan,” he said.

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