PM Modi Launches ₹1 Lakh Crore RDI Fund at ESTIC 2025: Fueling India’s Innovation Economy for a Viksit Bharat 2047

In a significant move for India’s research and innovation, Prime Minister Narendra Modi has launched the ₹1 lakh crore Research, Development and Innovation (RDI) Fund. This announcement was made at the Emerging Science, Technology, and Innovation Conclave (ESTIC) 2025, held in New Delhi.

The fund, managed by the Department of Science and Technology, aims to draw in private sector investment for high-risk research projects. The goal is to position India as a global center for innovation, aligning with the “Viksit Bharat 2047” vision.

The RDI Fund will operate on a two-tier model. It will allocate funds to various investment entities, including Alternative Investment Funds and Development Finance Institutions. These organizations will then decide where to invest based on expert guidance from the fields of finance and technology, ensuring that decisions remain independent of government influence.

During the announcement, Modi highlighted that this fund is a game-changer. “This ₹1 lakh crore is for your ideas and innovations,” he said. The intention is to ease the path for private research and incentivize experimental projects, fostering a more vibrant research environment.

According to recent data, India’s R&D spending has doubled in the last decade, with a significant increase in patent registrations and a booming startup ecosystem. Notably, the country now ranks third globally in terms of startup activity. The bio-economy has also seen remarkable growth, jumping from $10 billion in 2014 to $140 billion today. Modi emphasized that India is not just a technology consumer anymore; it is emerging as a tech pioneer.

The Prime Minister also announced initiatives to empower the educational sector, particularly focusing on youth and women in science. With plans for the Anusandhan National Research Foundation, there will be increased collaboration between universities and industry. Additionally, 10,000 Prime Minister’s Research Fellowships will be awarded in the next five years, alongside the establishment of 25,000 Atal Tinkering Labs in schools to cultivate innovative thinking early on.

Women now make up 43% of India’s STEM enrollment, exceeding the global average. This diverse participation, according to Modi, is essential for inclusive innovation and leadership.

Looking ahead, India aims to focus on ethical AI, green technology, and quantum computing. Modi announced that India will host the Global AI Summit in 2026, promoting responsible AI practices. He encouraged scientists and entrepreneurs to explore innovations in nutrition, soil health, and clean energy storage as key areas for advancing sustainable growth.

The ESTIC 2025 has convened over 3,000 participants, including scientists, entrepreneurs, and policymakers. The event emphasizes various fields such as artificial intelligence and health technology, highlighting the collaboration between startups and research institutions.

The launch of the RDI Fund symbolizes more than financial support; it represents a national effort to empower Indian innovators to thrive on a global scale. As PM Modi aptly puts it, “When science meets scale, technology drives transformation.” This mission sets the stage for India’s future achievements in research and development.

Source link

PM Modi, RDI Fund, ESTIC 2025, Research Development and Innovation Fund, Department of Science and Technology, Anusandhan National Research Foundation, Viksit Bharat 2047, Indian Startups, Deep-Tech, Make in India, Atmanirbhar Bharat, Artificial Intelligence, Quantum Computing, Green Hydrogen, GSAT-7R, India Innovation Policy, STEM Education, Women in Science, Bharat Mandapam, Science and Technology News, PM MOdi News,