Basic research, a prerequisite for applied research leading to developmental activity, conducted by the academic institutions, was supported by the Academy in past. The Academy offered adequate support to research programmes of individual scientists and to interdisciplinary, multi-institutional programmes. With the emergence of major funding bodies in the country, the Academy modified its programme to support individual scientists and diverted its funds to create five positions of INSA Research Professors, support to superannuated scientists (Fellows of the Academy only), research projects of INSA Young Scientist Medal Awardees and INSA Visiting Scientists.

The Academy also provides partial financial assistance for holding/organising international/national conferences, symposia or seminars in India.