India Allocates Rs 1 Lakh Crore for Technology Research: Minister Highlights Revolutionary Shift in Innovation Landscape

Union Minister Dr Jitendra Singh highlighted a transformation in India's innovation landscape.

Speaking at the Science, Technology and Innovation Conclave (ESTIC) in New Delhi on Monday, Union Minister for Science and Technology Dr Jitendra Singh praised the government's significant efforts to revolutionize India's research and development ecosystem.

"The government has allocated Rs 1 lakh crore for research and development in the technology sector," Dr Singh informed NDTV, elaborating that this initiative is designed to incentivize and monitor private sector investments in technology and innovation.

He emphasized that sectors previously considered inaccessible for private participation, such as space and nuclear energy, have now been opened up. This reform represents "a step once unthinkable," according to the minister.

Dr Singh noted a significant shift in India's innovation landscape, highlighting that 49 percent of new innovators now emerge from tier-2 and tier-3 cities.

"Access to platforms and opportunities is enabling individuals across India to contribute meaningfully to national progress," he stated.

Prime Minister Narendra Modi addressed the ESTIC at Bharat Mandapam in New Delhi on Monday. During his address, PM Modi emphasized, "India is working to build a modern innovation ecosystem and is focusing on improving the ease of doing research."