PM Modi launches ₹1 lakh cr RDI Scheme Fund to catalyse private R&D; investors hail boost to innovation

In a major boost to the R&D ecosystem in the country, Prime Minister Narendra Modi today launched the ₹1 lakh crore Research Development and Innovation (RDI) Scheme Fund, which will promote a private sector-driven R&D in the country. The Prime Minister, announcing the scheme during his address at the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025 at Bharat Mandapam in New Delhi, said, "We are focusing on ease of doing research so that a modern ecosystem of innovation can flourish in India. When science meets scale, when innovation becomes inclusive, when technology drives transformation, the foundation of great achievements is laid."

Here are key remarks made by PM Modi at ESTIC 2025:

1. PM Modi said India is no longer just a consumer of technology, but has become a pioneer of tech-enabled transformation. "Today, India has the world's most successful digital public infrastructure. India is shaping the global framework for ethical and human-centric AI."

2. PM Modi said for the first time, capital (RDI Scheme Fund) is being made available for high-risk and high-impact projects. “India is working to build a modern innovation ecosystem, and is focusing on improving the ease of doing research,” said the Prime Minister, while elaborating on the government's reforms in financial rules, procurement policies, regulations, incentives, and supply chains.

3. India’s R&D expenditure has doubled in the last decade; the number of registered patents has increased 17 times; and the country is now the world’s third-largest startup ecosystem. PM Modi said over 6,000 deep-tech startups in India are currently working in clean energy and advanced materials. He said India’s semiconductor sector is now taking flight, and highlighted the growth of India’s bio-economy, which has expanded from $10 billion in 2014 to $140 billion today.

4. Reflecting on how India successfully implemented policies and programmes at such a mammoth scale, he attributed it to the Digital Public Infrastructure. He said over 2 lakh gram panchayats have been connected through optical fibre and mobile data.

5. In the field of patent filing, he said a decade ago, fewer than 100 patents were filed annually by women in India, whereas today the number exceeds 5,000 per year. He said women now constitute 43% of STEM education enrolments in India, surpassing the global average.

6. He said via nearly 10,000 Atal Tinkering Labs, over 1 crore children are conducting experiments, and that after its success, 25,000 new Atal Tinkering Labs will be set up. He said hundreds of new universities have been established in recent years, including seven new IITs and sixteen IIITs. Over the next five years, 10,000 fellowships will be awarded to further strengthen R&D in the country, he said.

7. Talking about AI, the PM said its widespread application from retail and logistics to customer service and children’s homework will make this technology beneficial for every section of society. Under the India AI Mission, an investment of over ₹10,000 crore is being made, he said. “India is shaping a global framework for ethical and human-centric AI.”

What's ESTIC 2025?

The Emerging Science, Technology and Innovation Conclave (ESTIC) 2025, which is being held from 3-5 November 2025, will bring together over 3,000 participants from academia, research institutions, industry and government, along with Nobel Laureates, eminent scientists, innovators and policymakers. Deliberations will focus on 11 key thematic areas, including advanced materials & manufacturing, artificial intelligence, bio-manufacturing, blue economy, digital communications, electronics & semiconductor manufacturing, emerging agriculture technologies, energy, environment & climate, health & medical technologies, quantum science & technology, and spacetech.

The event will feature talks by leading scientists, panel discussions, presentations and technology showcases. It's also going to witness collaboration among researchers, industry and young innovators to strengthen India’s science and technology ecosystem.

Who said what on RDI Scheme Fund announcement?

On Prime Minister Modi's announcement of ₹1 lakh crore RDI Scheme Fund, Rajat Tandon, President, Indian Venture and Alternate Capital Association (IVCA), said the launch of the ₹1 lakh crore fund is a decisive step towards building India’s innovation capital framework and will catalyse private sector R&D, deepen India’s innovation capital, and accelerate the country’s vision of Viksit Bharat 2047. "It lays the foundation for a new era of public–private collaboration in research and technology, anchored in long-term, risk-taking patient capital. The framework announced today—where the Anusandhan National Research Foundation will steward the corpus and channel it through professional fund managers such as AIFs—resonates deeply with what IVCA and the industry have been advocating."

UP Chief Minister Yogi Adityanath also reacted, saying India is witnessing a new dawn of scientific resurgence and innovation. "The launch of the ₹1 Lakh Crore Research, Development & Innovation (RDI) Scheme Fund at the Emerging Science, Technology and Innovation Conclave 2025 today will accelerate research, nurture talent, and drive technological progress across the nation."