India’s R&D push: PM Modi inaugrates ESTIC; launches Rs 1 lakh-crore fund to boost private investment – The Times of India

Prime Minister Narendra Modi inaugurated the Emerging Science & Technology Innovation Conclave (ESTIC) 2025 at Bharat Mandapam in New Delhi on Monday.Addressing the gathering, the Prime Minister said, “Today is also a big day in the world of science and technology. In the twenty-first century, there was a great need for experts from around the world to come together to brainstorm on emerging science, technology, and innovation, and to show direction together. This need gave birth to an idea. And from this idea, the vision of this conclave was formed.”As part of the inaugural ceremony, PM Modi also launched the Research Development and Innovation (RDI) Scheme Fund, a Rs 1 lakh-crore corpus designed to encourage private sector investment in research and development.The fund aims to create capital availability for projects that carry higher risk but have the potential for large-scale impact.Speaking about the fund, the Prime Minister added, “This Rs 1 lakh crore is for you. It is to increase your capabilities. It is to open new opportunities for you. Our effort is to promote research and development in the private sector as well. For the first time, capital is also being made available for high-risk and high-impact projects.”He also announced setting up a Anusandhan Research Foundation to strengthen research and innovation across universities, opening up new avenues for academic and technological progress. He further added that India is no longer just a consumer “but a pioneer in technology-driven transformation.”“During Covid, we developed an indigenous vaccine in record time. We launched the world’s largest vaccination program. It became possible because today we have the world’s first and most successful digital public infrastructure,” he added.Along with the fund launch, he also released a coffee table book highlighting India’s scientific achievements and unveiled a vision document that lays out the country’s strategic direction for science and technology in the coming years.Referring to the recent launch of GSAT-7R, the Prime Minister noted, “Yesterday, India also hoisted the flag in the world of science and technology. Yesterday, Indian scientists successfully launched India’s heaviest communication satellite. I extend my heartfelt congratulations to all the scientists involved in this mission, including ISRO.”ESTIC 2025 is hosting over 3,000 participants, including Nobel Laureates, eminent scientists, researchers, academics, policymakers and industry representatives. Discussions and sessions have been organised across 11 thematic areas: 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 space technologies. Today’s inaugration begins the three-day event focused on advancing India’s science and technology landscape.