Modi bets big with ₹1 lakh cr fund to fuel innovation
A newly established government fund worth 1 trillion rupees represents a major commitment to expanding scientific research capabilities across the country, authorities announced on Tuesday. Prime Minister Narendra Modi introduced the Research, Development and Innovation program during an event held on Monday at a technology conference in New Delhi.
Officials said the initiative will provide extended financing terms at reduced or zero interest rates to stimulate private enterprise investment in scientific advancement. The program targets emerging fields and strategic industries by offering both growth capital and risk funding to overcome traditional obstacles in privately backed research. Goals include backing transformative projects, helping companies acquire essential technologies and establishing a deep-tech fund structure.
The program works alongside other government efforts, such as the Anusandhan National Research Foundation and digital public infrastructure development, to position the nation as a center for entrepreneurship and discovery. Authorities said combining these various programs creates a coordinated approach to advancing frontier technologies while strengthening partnerships between universities and businesses. Digital systems have expanded capacity for innovation by improving access to governance platforms and data networks, making the research landscape more competitive globally.
