PM Modi Launches 1 Lakh Crore Research & Development Scheme

Speaking on the occasion, Prime Minister said that, India made significant strides in the world of science and technology. He highlighted the successful launch of India’s heaviest communication satellite by Indian scientists and extended his heartfelt congratulations to all scientists involved in the mission, as well as to ISRO.

 Modi emphasized that today is also a landmark day for science and technology. He noted that in the 21st century, there was a pressing need for global experts to come together and deliberate on emerging science, technology, and innovation to provide direction. This need, he said, gave birth to an idea, which evolved into the vision for this Conclave. He expressed happiness that the vision is now taking shape through this Conclave.

The Prime Minister acknowledged the participation of various ministries, the private sector, startups, and students in this initiative. He stated that it is an honour to have a Nobel Laureate present among us today. He welcomed all attendees and extended his best wishes for the success of the Conclave.

Underlining that the 21st century is a period of unprecedented transformation, Shri Modi remarked that the global order is witnessing a new shift, and the pace of change is not linear but exponential. With this perspective, India is advancing various aspects related to emerging science, technology, and innovation, maintaining a consistent focus on them.

Emphasising that the policies and decisions taken in recent years to make India an innovation hub are now showing clear results, Modi proudly shared key statistics. India’s R&D expenditure has doubled in the last decade; the number of registered patents has increased 17 times; and India has become the world’s third-largest startup ecosystem. He noted that over 6,000 deep-tech startups in India are currently working in areas such as clean energy and advanced materials.

 The Prime Minister added that India’s semiconductor sector is now taking flight. He also highlighted the growth of India’s bio-economy, which has expanded from $10 billion in 2014 to approximately $140 billion today.

Underscoring that in recent years, India has made significant strides in several sunrise domains including green hydrogen, quantum computing, deep sea research, and critical minerals, Shri Modi emphasized that India has established a promising presence in all these areas.

“When science is scaled, innovation becomes inclusive, and technology drives transformation, it lays the foundation for major achievements”, remarked the Prime Minister, highlighting that India’s journey over the past 10–11 years exemplifies this vision.

Modi noted that while India’s space programme has reached the Moon and Mars, it has also been harnessed to benefit farmers and fishermen through space science applications. He acknowledged the contributions of all stakeholders behind these accomplishments.

Emphasizing the importance of inclusive innovation, the Prime Minister stated that when innovation is inclusive, its primary beneficiaries also become its leaders. He cited Indian women as the most prominent example of this transformation. He observed that whenever India’s space missions are discussed globally, Indian women scientists receive significant recognition.