India, Nov. 4 -- Underlining the country's growing scientific prowess, Prime Minister Narendra Modi on Monday launched a Rs 1 lakh crore fund to spur private sector investment in research and development and announced that his government was now supporting high-risk and high-impact projects, as India aims to emerge as a science and technology powerhouse.

Inaugurating the Emerging Science, Technology and Innovation Conclave (ESTIC), the annual flagship event involving policy-makers, innovators and global visionaries, Modi said his government has introduced significant reforms for a modern ecosystem of innovation to flourish in the country. The prime minister said the world was witnessing a new shift in the global order and the pace of cha...