PM Modi Launches ₹1 Lakh Crore Fund to Boost Private R&D; India Targets Tech Superpower Status
Prime Minister Narendra Modi on Monday unveiled a landmark ₹1 lakh crore Research, Development & Innovation Fund aimed at catalysing private-sector investment in research and development (R&D).
The initiative seeks to support high-risk, high-impact scientific and technological ventures, with the broader vision of positioning India as a global powerhouse in science, technology, and innovation.
Speaking at the inauguration of the Emerging Science, Technology & Innovation Conference (ESTIC) at Bharat Mandapam in New Delhi, PM Modi emphasised that fostering strong research capabilities is essential for India’s march toward becoming a leading technological nation.
“Ease of Research” and Innovation Push
The Prime Minister stressed that the government is committed to creating an ecosystem built on ‘Ease of Research’, ensuring seamless and modern support systems for innovators, scientists, and startups.
He underlined that the new fund would not only empower researchers but also accelerate innovation for public welfare, industry transformation, and global competitiveness.
Support for Breakthrough Technologies
Highlighting the new funding mechanism, PM Modi noted that technologies that have successfully reached Technology Readiness Level (TRL)-4, meaning they have working prototypes, will be eligible for long-term loans covering up to 50% of project cost.
Unlike grants, this system ensures sustained funding support while encouraging accountability and commercial viability.
Women in Innovation and Startup Growth
The Prime Minister celebrated India’s rapid rise as the world’s third-largest startup ecosystem and pointed out a significant milestone in women’s participation in intellectual property creation.
A decade ago, fewer than 100 patents filed annually were attributed to women; today, the number has surged to over 5,000 per year, reflecting a transformative shift in inclusivity and innovation.
He also mentioned the establishment of Research Foundations in universities, aimed at strengthening institutional research capacity and fostering collaboration between academia and industry.
Cultural Diplomacy: International Gita Mahotsav
In a separate development, Haryana Chief Minister Nayab Singh Saini announced that the 10th International Gita Mahotsav will commence on 15 November in Kurukshetra.
Prime Minister Modi is scheduled to participate in the festival on 25 November, further highlighting the government’s focus on promoting India’s cultural heritage globally.
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