PM Modi Unveils ESTIC: Rs 1 Lakh-Crore Fund Explained
Prime Minister Narendra Modi officially opened the Emerging Science & Technology Innovation Conclave (ESTIC) 2025 at Bharat Mandapam in New Delhi on Monday. During his address, he emphasized the importance of global collaboration in science and technology, stating that the conclave was born from the need for experts to unite and innovate. The event also marked the launch of the Research Development and Innovation (RDI) Scheme Fund, a significant initiative aimed at boosting private sector investment in research and development.
Launch of the RDI Scheme Fund
The RDI Scheme Fund, with a substantial corpus of Rs 1 lakh crore, aims to stimulate private sector investment in high-risk research and development projects. Prime Minister Modi highlighted that this fund is designed to enhance capabilities and create new opportunities for innovators. He stated, “This Rs 1 lakh crore is for you. It is to increase your capabilities. It is to open new opportunities for you.” This initiative marks a pivotal shift in India’s approach to fostering innovation, as it provides capital for projects that may be deemed too risky by traditional investors. The Prime Minister’s vision is to promote a culture of research and development within the private sector, enabling India to emerge as a leader in technology-driven solutions.
Establishment of the Anusandhan Research Foundation
In addition to the fund, PM Modi announced the establishment of the Anusandhan Research Foundation. This foundation aims to bolster research and innovation across universities, thereby opening new avenues for academic and technological advancement. The Prime Minister underscored that India is transitioning from being merely a consumer of technology to becoming a pioneer in technological transformation. He cited the rapid development of an indigenous vaccine during the COVID-19 pandemic as a testament to India’s growing capabilities in science and technology. The foundation is expected to play a crucial role in fostering collaboration between academia and industry, ultimately driving progress in various scientific fields.
Highlighting India’s Scientific Achievements
During the inauguration, PM Modi also unveiled a coffee table book that showcases India’s scientific achievements and released a vision document outlining the strategic direction for the country’s science and technology landscape in the coming years. He referenced the recent successful launch of GSAT-7R, India’s heaviest communication satellite, expressing gratitude to the scientists involved in the mission. This achievement, along with the initiatives announced at the conclave, reflects India’s commitment to advancing its position in the global scientific community. The Prime Minister’s remarks emphasized the importance of continued investment in science and technology to ensure sustainable growth and innovation.
Overview of the Conclave’s Activities
The ESTIC 2025 is set to host over 3,000 participants, including Nobel Laureates, distinguished scientists, researchers, academics, policymakers, and industry leaders. The event will feature discussions and sessions across 11 thematic areas, including advanced materials and manufacturing, artificial intelligence, bio-manufacturing, and space technologies. This three-day conclave aims to facilitate knowledge exchange and collaboration among experts, ultimately contributing to the advancement of India’s science and technology landscape. The diverse range of topics covered at the event underscores the government’s commitment to fostering innovation and addressing global challenges through scientific research and technological development.
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