Reaffirming the Centre’s commitment to technological self-reliance, Union Minister Dr. Jitendra Singh announced that the government’s ₹1 lakh crore Research, Development, and Innovation (RDI) scheme will catalyze private sector-led growth in strategic and emerging technologies.
Speaking at the ASSOCHAM Conference on “Sovereign Tech for India’s Digital Transformation” under the theme ‘Bharat@100’, Dr. Singh emphasized that the initiative, anchored by the Anusandhan National Research Foundation (ANRF), is designed to accelerate India’s journey towards sovereign tech leadership.
The RDI scheme will offer long-term, low-interest loans and risk capital to fuel deep-tech innovation, especially in sunrise sectors. A dedicated Deep-Tech Fund of Funds will further encourage private investment, with implementation by the Department of Science and Technology (DST).
Highlighting the government’s shift toward greater private sector collaboration, Dr. Singh recalled landmark reforms in the Space and Nuclear sectors, which propelled India’s space economy to $8 billion, with projections of reaching $40 billion.
He urged the industry to seize the moment, stating, “India’s technological footprint is expanding, and the world is watching.”
Citing India’s rise as the world’s fourth-largest economy, Dr. Singh credited a decade of policy reforms and industrial resilience—evident during the pandemic, when India developed and shared indigenous vaccines globally under the ‘Vaccine Maitri’ initiative.
He also spotlighted India’s increasing global stature in advanced sectors, such as space, referencing astronaut Shubhanshu Shukla’s role in an international mission as a symbol of India’s credibility on the world stage.
Touching on the need for indigenous data ecosystems, Dr. Singh lauded the Department of Biotechnology’s success in establishing the Indian Biological Data Centre (IBDC), which now houses over 10,000 genome sequences under the Genome India Project.
Underscoring inclusive innovation, he revealed that nearly half of Indian startups now originate from Tier-2 cities, with growing participation from women and tribal entrepreneurs—supported by targeted government schemes.
On Artificial Intelligence, he advocated a balanced, hybrid model combining AI and human intelligence, cautioning against unchecked automation.
Finally, echoing Prime Minister Narendra Modi’s vision of a “Viksit Bharat” by 2047, the Minister highlighted untapped potential in sectors like Space, Biotechnology, and the Blue Economy as key pillars for India’s future growth.
The event was attended by industry leaders including Dr. Wolfgang Dreikär (SAP), Sunil Gupta (Yotta Data Services), and Ranjeet Goswami (TCS), reflecting the strong public-private synergy driving India’s tech transformation.(KINS)
