PM Modi Unveils ₹1 Lakh Crore RDI Fund to Supercharge India’s Innovation Engine

The energy inside Bharat Mandapam was unmistakable — a mix of excitement, pride, and purpose. As Prime Minister Narendra Modi took the stage at the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025, he wasn’t just inaugurating another government initiative. He was laying the foundation for what could become one of the most transformative movements in India’s innovation story.

PM Modi at Emerging Science, Technology and Innovation Conclave (ESTIC) 2025

Amid rousing applause, the PrimeMinister announced the launch of the ₹1 lakh crore Research, Development and Innovation (RDI) Fund, a landmark initiative aimed at mobilising private capital into research and high-impact technologies. The fund, he said, is designed to act as “risk capital for India’s boldest innovators.”

“These ₹1 lakh crore are for you — to expand your capabilities, to open new opportunities,” PM Modi told innovators and entrepreneurs. “For the first time, capital is being made available for high-risk, high-impact projects in India’s private sector.”

The Birth of India’s Innovation Powerhouse

The newly launched RDI Fund, operated under the Department of Science and Technology (DST), will function as a catalytic mechanism to strengthen India’s innovation ecosystem — especially the deep-tech and high-impact startup segments.

The fund will follow a two-tier structure.

• A Special Purpose Fund will be established within the Anusandhan National Research Foundation (ANRF), serving as the custodian of the ₹1 lakh crore corpus.

• The ANRF will then channel investments through Alternative Investment Funds (AIFs), Development Finance Institutions (DFIs), and non-banking entities, which will identify and support startups working on frontier technologies.

By encouraging private sector participation in R&D — traditionally a public sector stronghold — the RDI Fund represents a paradigm shift. It signals India’s transition from being a knowledge consumer to becoming a knowledge creator on the global stage.

‘Ease of Doing Research’: India’s New Mantra

At the heart of the announcement was a deeper promise — the commitment to make innovation easier, faster, and more inclusive. PM Modi coined a phrase that resonated with the spirit of the startup ecosystem: “Ease of Doing Research.”

The government, he said, is focused on ensuring that ideas born in Indian labs can swiftly move into the market, creating tangible impact. Policy reforms in procurement, financial rules, and incentive structures have been tailored to nurture a more agile environment for innovation.

India today boasts over 6,000 deep-tech startups, working across domains such as clean energy, semiconductors, advanced materials, and artificial intelligence — a leap that reflects the country's remarkable transformation over the past decade.

“In the past ten years, India’s R&D spending has doubled, patent registrations have increased 17 times, and startups have emerged as key drivers of innovation,” the Prime Minister noted.

A Showcase of India’s Emerging Tech Prowess

ESTIC 2025 — a first-of-its-kind conclave — has attracted over 3,000 participants, including Nobel Laureates, policymakers, researchers, industry leaders, and startup founders. The event features 35+ technology showcases spotlighting India’s capabilities in cutting-edge domains such as:

• Artificial Intelligence and Quantum Technologies

• Space and Satellite Innovation

• Advanced Manufacturing and Materials

• HealthTech and Bio-Manufacturing

• Semiconductor and Electronics Design

The conclave also features panel discussions with women entrepreneurs, startup founders, and venture capitalists, encouraging collaboration between academia, industry, and the investment ecosystem. The mood at the event reflected a strong consensus — that India’s next leap will be powered not just by scale, but by innovation.

India: From Consumer to Creator of Technology

PM Modi’s address struck a chord with the audience when he declared that “India is no longer just a consumer of technology — it is a pioneer of transformation through technology.”

From the rapid development of indigenous COVID-19 vaccines to the creation of Digital Public Infrastructure that has revolutionised governance and fintech, India’s achievements are rewriting global innovation narratives. The recent launch of GSAT-7R, India’s heaviest communication satellite, further exemplifies this technological momentum.

Adding to the long-term vision, PM Modi also announced the establishment of the Anusandhan Research Foundation to strengthen innovation at universities, along with the expansion of Atal Tinkering Labs from 10,000 to 25,000 labs — a move aimed at nurturing innovation from the grassroots.

Building the Road to ‘Viksit Bharat 2047’

Under the banner “Science, Technology and Innovation for Viksit Bharat 2047”, ESTIC 2025 marks a defining moment in India’s journey toward becoming a global innovation powerhouse. The event is being held in collaboration with multiple ministries — including Defence, Electronics & IT, Education, and Agriculture — alongside departments such as Space, Atomic Energy, and Earth Sciences.

During the event, PM Modi unveiled a coffee table book on India’s scientific achievements and a vision document outlining the nation’s future science and technology roadmap.

India’s Push for Ethical, Human-Centric AI

With Artificial Intelligence emerging as a cornerstone of global growth, PM Modi emphasised that India’s approach to AI will be both ethical and human-centric. He announced that India will host the Global AI Summit in February 2026, positioning the country as a leader in shaping responsible innovation frameworks.

“Science must be scaled, innovation must be inclusive, and technology must drive transformation,” he said, invoking the spirit of “Jai Vigyan, Jai Anusandhan.”

The ₹1 lakh crore RDI Fund isn’t just about numbers. It’s about belief — belief that India’s innovators can dream big, take risks, and create technologies that redefine global standards.

If the vision of Viksit Bharat 2047 is India’s collective North Star, this fund could very well be the rocket fuel that powers the journey. As ESTIC 2025 set the stage for this next wave of innovation, one thing was clear — India’s startup-led future has well and truly begun.