Prime Minister Narendra Modi announced a ₹1 lakh crore Research and Development (R&D) program to assist high-risk, high-impact scientific and technical ventures in a historic step to speed up India’s innovation journey.

The program’s goal is to enable research institutes, universities, and entrepreneurs engaged in cutting-edge fields like biotechnology, clean energy, space technology, artificial intelligence, and quantum computing. India aims to establish itself as a global leader in deep tech innovation and independent scientific advancement by making significant investments in transformative research.

Related: 12 IIT-Born Startups Leading India’s Leap into the Future of Technology

The recently established R&D program will offer low-cost, long-term financial support for high-risk projects with the potential to produce game-changing results. The government wants to support innovative discoveries and homegrown technology that can boost industrial expansion and bolster the country’s capacity in developing fields.

This program will help India lessen its reliance on foreign technologies while fostering new intellectual property and international partnerships by bridging the gap between academic research and commercial innovation.

A variety of sectors are covered by the program, including:

• Machine learning and artificial intelligence (AI) for use at the national level.
• Quantum computing will increase processing power and cybersecurity.
• Green hydrogen and clean energy will help India achieve its environmental objectives.
• Technologies for next-generation innovation in space and defense.

By doing this, the government hopes to create an innovative ecosystem where academics and businesspeople may take risks without worrying about money.

The Atmanirbhar Bharat (Self-Reliant India) objective of India, which emphasizes indigenous innovation and intellectual leadership, is in line with this ₹1 lakh crore project.
Additionally, it would draw international investors to India’s R&D sector and fortify public-private collaborations.

During his speech at the launch, Prime Minister Modi emphasized that innovation is about more than simply technology; it’s about changing lives, empowering young people, and creating a knowledge-driven economy.

India wants to lead the next era of scientific excellence and sustainable growth by transforming from a technology adopter to a technology creator.

An important turning point in India’s quest for innovation-led growth is the ₹1 lakh crore R&D plan.
The government’s financing of high-risk, high-impact projects is strengthening India’s position as a leader in scientific advancement and building the groundwork for a future driven by innovation, discovery, and global competitiveness.