Modi’s ₹1 lakh crore tech push! India unveils game-changing innovation scheme at ESTIC 2025

He emphasised that efforts are being made to promote research and development in the private sector as well.

“For the first time, capital is being made available for high-risk and high-impact projects," said Modi.

“India is working to build a modern innovation ecosystem and is focusing on improving the ease of doing research,” said the Prime Minister, highlighting that the government has undertaken several reforms in financial rules and procurement policies.

Additionally, reforms have been made in regulations, incentives, and supply chains to ensure that prototypes can swiftly move from lab to market.

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, 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. India is no longer merely a consumer of technology, but has become a pioneer of transformation through technology, said Modi.

He recalled that during the COVID-19 pandemic, India developed an indigenous vaccine in record time and conducted the world’s largest vaccination programme.