Union Minister for Science and Technology Dr Jitendra Singh hailed the government's major effort to transform India's research and development ecosystem while speaking at the Science, Technology and Innovation Conclave (ESTIC) in New Delhi on Monday.
"The government has allocated Rs 1 lakh crore for research and development in the technology sector," Dr Singh told NDTV, explaining that the initiative aims to incentivise and track private sector investment in technology and innovation.
He said sectors like space and nuclear energy, which were once considered out of reach for private participation, have now been opened up. This reform is "a step once unthinkable", he said.
Dr Singh pointed to a shift in India's innovation landscape, observing that 49 per cent of new innovators now come from tier-2 and tier-3 cities.
"Access to platforms and opportunities is enabling individuals across India to contribute meaningfully to national progress," he said.
Prime Minister Narendra Modi addressed the ESTIC at Bharat Mandapam in New Delhi on Monday. "India is working to build a modern innovation ecosystem and is focusing on improving the ease of doing research," PM Modi said during his address.
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