NEW DELHI, Aug 15: Prime Minister Narendra Modi on Saturday urged India’s youth to dream big and assured them that lack of resources would not come in the way of pursuing innovative ideas, highlighting the government’s Rs 1 lakh crore Research, Development and Innovation Fund.
Addressing the nation on the 80th Independence Day, Modi said young Indians would be at the centre of India’s journey towards becoming a developed nation and would also be among its biggest beneficiaries.
Highlighting the expansion of the startup ecosystem, the Prime Minister said more than 2.5 lakh registered startups have been created under the Startup India initiative. He noted that young entrepreneurs were not only creating employment for themselves but were also generating jobs for others.
“A Rs 1 lakh crore Innovation Fund has been announced by the Government of India. I want to tell the youth of the country: bring your dreams, we will ensure there is no shortage of resources,” Modi said.
He said the fund would help empower innovative minds and strengthen India’s capabilities in emerging and strategic sectors.
Modi also highlighted initiatives such as Digital India, affordable internet data and Skill India, saying these had significantly expanded opportunities for young Indians.
He noted that India has emerged as the world’s third-largest startup hub after the US and China, with the government supporting entrepreneurs through various funding and policy initiatives.
Under Startup India, schemes such as the Fund of Funds for Startups, Startup India Seed Fund Scheme and Credit Guarantee Scheme for Startups provide financial support to startups at different stages of their growth.
The Prime Minister also referred to the Research, Development and Innovation Fund, which has a corpus of Rs 1 lakh crore over six years to encourage greater private-sector investment in emerging and strategic areas.
The initiative covers sectors including energy security, climate action, deep technology, quantum technologies, artificial intelligence, biotechnology, digital agriculture and the digital economy.
Modi said continued investment in innovation and technology would help India strengthen its entrepreneurial ecosystem and accelerate its journey towards becoming a developed nation.
