India Ranks Third in Global Startups, Strengthens Innovation with ₹20,000 Crore R&D Push

By fostering a robust innovation ecosystem, the government aims to encourage private investments in critical technological domains that will shape India’s future.

In a significant stride towards establishing India as a global innovation hub, Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, as well as Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances, and Pensions, announced that India has secured the third global rank in startups over the past decade. He reaffirmed the Union Government's commitment to fostering research, development, and innovation, highlighting the ₹20,000 crore allocation in Budget 2025-26 dedicated to these initiatives.

Boosting Private Sector Research and Sunrise Industries

The newly announced initiative aims to propel private sector research and innovation, particularly in emerging industries such as artificial intelligence (AI), 5G, semiconductor manufacturing, and quantum computing. Speaking at the concluding session of the Post Budget Webinar 2025 on "Investing in Innovation," Dr Jitendra Singh emphasized that this funding will drive cutting-edge technological advancements and reinforce India’s position in deep-tech sectors.

This builds upon the ₹1 lakh crore corpus introduced in Budget 2024-25 to accelerate R&D in the private sector. By fostering a robust innovation ecosystem, the government aims to encourage private investments in critical technological domains that will shape India’s future.

Rise in Patent Grants and Global Innovation Index Ranking

Highlighting India’s progress in innovation, Dr. Jitendra Singh noted that patent grants have surged 17 times since 2014. Furthermore, India's position in the Global Innovation Index has significantly improved, rising from 81st to 39th place among 133 economies. These achievements establish India as the third-leading global contributor to scientific research, underlining the country’s commitment to technological advancements and intellectual property generation.

Expansion of Prime Minister's Research Fellowship (PMRF) Scheme

To cultivate world-class research talent, the government has tripled the intake under the Prime Minister’s Research Fellowship (PMRF) Scheme. Launched in 2018, the program has already supported 3,688 scholars. With the latest budgetary expansion, the scheme will provide opportunities to 10,000 fellows over the next five years, enabling young scientists to undertake groundbreaking research at premier Indian institutions.

"The PMRF is not just about financial assistance; it is about fostering an environment where academic excellence and intellectual curiosity thrive," Dr. Jitendra Singh remarked.

National Geospatial Mission: Revolutionizing Infrastructure Planning

Underscoring the significance of geospatial technology for economic growth, Dr. Jitendra Singh highlighted the National Geospatial Mission, a key initiative under the 2022 National Geospatial Policy. This mission plays a critical role in urban planning, disaster management, and precision agriculture, supporting India’s long-term vision of becoming a developed nation by 2047.

Strengthening Agricultural Security with National Gene Bank Expansion

With an emphasis on food security, India is establishing a National Enlarged Gene Bank Replica to preserve its rich crop diversity. India’s National Gene Bank, the second largest globally, already safeguards over 4.7 lakh accessions of 2,147 species, including traditional crops. The new initiative will ensure the continued preservation of genetic diversity and long-term agricultural resilience.

Preserving India’s Intellectual Heritage with the Gyan Bharatam Mission

In a historic move to protect and digitize India's vast manuscript heritage, the government has launched the Gyan Bharatam Mission. This initiative aims to digitize over one crore ancient manuscripts, creating a National Digital Repository.

"India possesses an unparalleled wealth of intellectual and cultural heritage, much of which is fragile and inaccessible. This initiative will ensure its preservation and accessibility for scholars and researchers worldwide," Dr. Jitendra Singh emphasized.

Towards Viksit Bharat 2047: A Roadmap for Innovation-Led Growth

Concluding the session, Dr. Jitendra Singh reiterated that these ambitious initiatives align with the broader vision of 'Viksit Bharat 2047' — India's roadmap to becoming a developed nation. He emphasized that investments in research fellowships, deep-tech innovation, and digital infrastructure are not just about economic progress but also about empowering young minds, strengthening technological sovereignty, and positioning India as a global leader in science and technology.

With substantial budgetary support and forward-thinking policies, the government is making decisive moves to propel India into the forefront of global innovation, ensuring a future defined by cutting-edge research and technological advancements.