PM Modi to Launch ₹1 Lakh Crore RDI Fund at ESTIC-25, Why This Could Be India’s 21st Century Science Revolution

In a landmark move that could redefine India’s scientific and technological landscape, Prime Minister Narendra Modi is set to launch the ₹1 lakh crore Research, Development and Innovation (RDI) Fund on November 3 at the Emerging Science, Technology and Innovation Conference (ESTIC-25) in New Delhi. The initiative marks a turning point in India’s journey from a knowledge consumer to a knowledge creator, positioning research and innovation as central pillars of national growth.

For the first time in India’s history, such a massive, long-term fund has been allocated exclusively for research, deep technology, and innovation-driven enterprises. The fund will be administered under the Department of Science and Technology (DST) — an institution that, in 2013, had a modest annual budget of merely ₹3,000 crore. Now, with this historic upgrade, the DST is set to become the country’s primary engine for scientific transformation, driving collaboration between academia, industry, and startups.

A Vision to Power India’s Innovation Decade

The RDI Fund aligns with the government’s broader vision of making India a global innovation hub by 2047, coinciding with the nation’s centenary of independence. Officials have indicated that the fund will focus on strategic sectors such as quantum technologies, space exploration, artificial intelligence, renewable energy, biotechnology, and advanced materials.

It will also strengthen research infrastructure through the creation of “National R&D Clusters” — hubs that integrate universities, private industries, and government laboratories to accelerate innovation from concept to commercialization. A portion of the fund is expected to be routed through a “National Innovation Bond Mechanism,” encouraging private sector participation and long-term investment in high-risk, high-reward research.

Empowering Scientists, Startups, and Students

One of the most transformative aspects of the RDI Fund is its inclusive design. It will not only finance large-scale institutional projects but also support young innovators, researchers, and tech entrepreneurs through dedicated grants and seed funding programs. The government plans to establish a National Research Fellowship Grid that will offer merit-based scholarships for PhD candidates and postdoctoral researchers working on frontier technologies.

The fund will also integrate with initiatives like Startup India and Atal Innovation Mission, bridging the gap between research and entrepreneurship. This move is expected to energize India’s deep-tech startup ecosystem, enabling domestic solutions in defense, space, healthcare, and green technologies.

India’s R&D Transformation: From Modest Beginnings to Global Ambition

India’s R&D investment has historically hovered around 0.7% of GDP, significantly lower than global leaders like the U.S. (3.4%), China (2.4%), and South Korea (4.9%). The launch of the RDI Fund represents a bold effort to bridge this gap and place India among the top five nations in global innovation rankings within the next decade.

In 2013, the DST’s ₹3,000 crore budget primarily sustained academic research grants and basic science programs. A decade later, the scale of investment — now over 30 times greater — reflects a clear strategic shift: from incremental progress to disruptive advancement.

The government’s approach under PM Modi has been consistent — from Digital India and Make in India to Semicon India and Anusandhan National Research Foundation (NRF) — all designed to integrate research with national development and industrial self-reliance.

The unveiling of the ₹1 lakh crore RDI Fund at ESTIC-25 is not just a budgetary announcement but a declaration of India’s intent — to lead in scientific discovery, to innovate for the world, and to make knowledge creation a cornerstone of economic growth.

As India steps into this new era of science-driven policy and innovation-led economy, the RDI Fund could become the foundation of a self-sustaining research ecosystem that empowers the next generation of scientists, engineers, and innovators to think beyond boundaries..