PM launches Rs 1 trillion R&D fund at ESTIC-2025

Prime Minister Narendra Modi on Monday launched the Rs 1 trillion Research, Development and Innovation (RDI) Fund to promote a private sector–driven research and development ecosystem in the country.

He announced this during his address at the first Emerging Science Technology and Innovation Conclave (ESTIC), which is being organised from November 3 to 5 at Bharat Mandapam in New Delhi.

The event aims to showcase cutting-edge research, deep-tech breakthroughs and thought-provoking discussions with Nobel laureates, global experts, policymakers and emerging leaders.

During his address, the PM highlighted that it was for the first time that capital was being made available for high-risk and high-impact projects.

Besides, the Department of Science and Technology will manage the RDI Fund through a two-tier structure. At the first level, a special purpose fund will be established under the Anusandhan National Research Foundation (ANRF) to hold and manage the Rs 1 trillion corpus. This fund will not be invested directly into industries and start-ups. Instead the RDI Fund will channel the capital through second-level fund managers such as Alternative Investment Funds (AIF), Development Finance Institutions (DFI) and Non-banking Finance Companies (NBFCs).

The research conclave will bring together more than 3,000 participants from academia, research institutions, industry and government.

Meanwhile, deliberations will focus on 11 key thematic areas -- including advanced materials and manufacturing, artificial intelligence, bio-manufacturing, blue economy, digital communications, electronics and semiconductor manufacturing, emerging agriculture technologies, energy, environment and climate, health and medical technologies, quantum science and technology and space technologies.

The Prime Minister pointed out that India’s R&D expenditure had doubled in the last decade, while the number of registered patents had increased 17 times.

India has also become the world’s third-largest start-up ecosystem. More than 6,000 deep-tech start-ups in India are currently working in areas such as clean energy and advanced materials.

“Ten years ago, women in India used to file less than 100 patents annually. Today, the number exceeds 5,000 per year. Women now constitute approximately 43 percent of STEM education enrolments in India, surpassing the global average,” said Modi.

The Prime Minister also highlighted that hundreds of new universities were established in recent years, including seven new IITs and sixteen IIITs.

He added that under the New Education Policy, it has been ensured that students can now pursue STEM courses such as science and engineering in their local languages.

He said India was working to make AI beneficial for every section of society. “India is shaping a global framework for ethical and human-centric AI. An investment of over Rs 10,000 crore is also being made under the India AI Mission,” said Modi.

He announced that India will host the Global AI Summit in February 2026, which will accelerate efforts towards inclusive, ethical and human-centric AI.

Calling for intensified efforts in emerging areas, Modi also stressed the importance of identifying critical inputs where India was dependent on the world and need to achieve self-reliance in those areas.