New Delhi: Prime Minister Narendra Modi on Monday said India is investing in high-risk, high-impact research and development (R&D) projects and promoting private sector participation to establish the country as a global science and technology leader.
Speaking at the inauguration of the first-ever Emerging Science, Technology and Innovation Conclave (ESTIC) — the government’s annual flagship event bringing together policymakers, innovators, and global experts — the prime minister said significant reforms have been undertaken to build a modern, innovation-driven ecosystem in India.
At the event, Modi launched the ₹1 lakh crore Research, Development and Innovation Fund, aimed at spurring private investment in R&D and unlocking new avenues for growth.
“This major investment seeks to benefit citizens and open up new opportunities,” he said.
Highlighting the government’s focus on encouraging research within the private sector, Modi noted, “For the first time, funds are being allocated specifically for high-risk, high-impact projects to support path-breaking ideas.”
He added that the government is prioritizing ‘Ease of Doing Research’, introducing reforms in financial regulations, procurement policies, incentives, and supply chain systems to accelerate the transition of prototypes from labs to markets.
Over the past decade, India’s R&D expenditure has doubled, reflecting its strong commitment to innovation, Modi said. “The number of registered patents has increased 17-fold, and India now ranks as the third-largest startup ecosystem in the world,” he added.
The prime minister also mentioned the establishment of the Anusandhan Research Foundation to strengthen research and innovation in universities and create fresh opportunities for growth.
Emphasizing inclusive innovation, Modi highlighted the rising role of women in India’s science and technology landscape. “A decade ago, fewer than 100 patents were filed by women annually. Today, that number exceeds 5,000 each year,” he said, noting that 43% of STEM students in India are women, far above the global average.
Modi concluded by saying that India’s transformation is powered by the synergy of science, scale, and inclusivity.
“When science meets scale, innovation becomes inclusive, and technology drives transformation. Over the past decade, India has embodied this vision — no longer just a consumer of technology, but a pioneer of transformation through technology,” he said.
