The speaker stressed that technological sovereignty is essential for ensuring national control, independence, and security in critical technologies. Strategic innovation priorities include Artificial Intelligence, Quantum Computing, Semiconductors, Cybersecurity, Space and Defence Manufacturing, Green Hydrogen, Biotechnology, and Vaccines. However, the private sector faces several challenges in participating effectively. These include the inherently high-risk nature of R&D, which discourages investors; a lack of domestic growth capital; fragmented and slow approval processes; and weak mechanisms for IP commercialization and early procurement.
A major development in this landscape is the launch of the R&D Innovation Scheme in July 2025, with a substantial corpus of ₹1 lakh crore. The scheme is built on a four-fold objective—encouraging private sector R&D in sunrise and strategic sectors to strengthen economic security, strategic purpose, and self-reliance; financing transformative projects at higher Technology Readiness Levels (TRL 4 and above); supporting the acquisition of critical technologies of high strategic importance; and facilitating the creation of a Deep-Tech Fund of Funds to nurture advanced innovations. Public finance mechanisms, the speaker emphasized, are vital for de-risking technology development, bridging funding gaps, supporting startups and SMEs, and fostering an innovation-led economy.
The Technology Development Board (TDB) was presented as a central enabler in strategic tech financing. Its funding impact spans a diverse range of critical areas: in vaccines, Bharat Biotech and others; in drone technology, Botlab Dynamics; in health devices, Panacea, Sahajanand Technologies, Noccarc, and S3V; in defence, Lekha Wireless, and DPSU; in space, Dhruva Space and Agnikul; in semiconductors, Rana Semiconductors; in energy, Electrowaves Electronics and Batex; and in rare earths, Midwest Advanced Materials.
The Research & Development Innovation Fund (RDIF) complements these efforts by supporting Indian-controlled companies, ensuring that IPR developed is registered domestically, and enforcing compliance with value-addition, export control, and security requirements. Funding is channelled through Second Level Fund Managers such as Alternative Investment Funds (AIFs), Development Finance Institutions (DFIs), Non-Banking Financial Corporations (NBFCs), and Focused Research Organisations (FROs), and reaches companies and startups via loans, equity, or hybrid models.
He also discussed some of the recently developed technologies that showcase India’s growing innovation capacity, including Skyshow Daylight, Panacea Medical, Krishigati’s Electric Bull, and advancements in robotics, among others. In conclusion, the session underscored that the government is paying unprecedented attention to science and technology. The R&D ecosystem has transformed significantly in the past decade, and with the momentum of current initiatives like the R&D Innovation Scheme, the coming decade is expected to witness even greater advancements.