By Ira Deshpande
On Monday, Prime Minister Narendra Modi inaugurated the Emerging Science and Technology Innovation Conclave (ESTIC) 2025. The event, held in New Delhi, marked a major push towards India’s research ecosystem, focusing on innovation.
A new fund worth 1 crore rupees was announced by the Prime Minister during the event. This fund is set to boost private investment in the areas of research and development. The Research, Development and Innovation (RDI) scheme aims to encourage industries, startups and universities to indulge in high-risk, high-impact projects that can be taken forward towards a long-term growth.
New doors of collaboration between the private and public sectors are expected to open through this RDI fund. Projects which focus on subject areas related to emerging technologies, such as artificial intelligence, quantum computing, biotechnology and advanced materials will be supported through this scheme. The primary goal of the scheme is to make India a global hub for innovation, rather than just a market for technology created elsewhere.
More than 3000 experts from India and abroad were a part of ESTIC 2025. These participants included scientists, business leaders, policymakers, and young innovators. The three-day event will focus on discussions related to key areas of sustainable manufacturing, energy solutions, the blue economy, and future communication systems.
Prime Minister Narendra Modi stated in his speech that the twenty-first century belongs to innovation and knowledge, adding that India must not remain a consumer of technology but become a producer of it. He highlighted India’s successful space missions as an achievement and the development of indigenous vaccines as proof of what the country has the potential to achieve if science and policy work together.
In order to simplify research regulations, new reforms are being introduced by the government. These new reforms are being introduced to ensure a smooth process for researchers to get funding and bring their innovations to market. Financial approvals, rules for procurement and testing are being updated to speed up the process from idea to execution.
PM Modi also spoke about India’s growing number of patients and the rapid rise of startups across the country, adding that the growth reflects the country’s confidence in its scientists and entrepreneurs.