NEW DELHI: Prime Minister Narendra Modi on Monday said India was backing high risk and high impact research and development projects, and fostering private investments in this domain to emerge as a science and technology powerhouse.

Inaugurating the first ever Emerging Science, Technology and Innovation Conclave (ESTIC), the annual flagship event involving policy-makers, innovators and global visionaries, he said his government has introduced significant reforms for a modern ecosystem of innovation to flourish in the country.

At the Conclave, the prime minister also launched the Rs one lakh crore Research, Development and Innovation Fund to spur private sector investment in research and development.

“This significant investment is aimed at benefiting the public and unlocking new avenues

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