New Delhi, Nov 4 (IANS) The newly launched Research Development and Innovation (RDI) fund of Rs 1 lakh crore marks a landmark step in strengthening India’s research and development ecosystem, said the government on Tuesday.

The scheme was launched by Prime Minister Narendra Modi at the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025, on Monday.

The RDI scheme “aims to build a private sector–driven innovation environment that can accelerate the nation’s scientific and technological progress,” the government said.

It recognises the critical role of the private sector in driving innovation and commercialising research, and provides long-term financing or refinancing support with extended tenors at low or nil interest rates.

The initiative aims to encourage greater private investment in RDI, particularly in sunrise and strategic sectors, the government noted.

The scheme also addresses existing challenges in funding private research by offering growth and risk capital. It focuses on facilitating innovation, promoting technology adoption, and improving competitiveness across emerging areas.

The key objectives of the RDI Scheme include encouraging private sector participation; financing transformative projects, supporting acquisition of critical technologies; and facilitating a deep-tech fund of funds, the government said.

In addition to RDI, the government has launched several initiatives to make India a global hub for research, innovation, and entrepreneurship across emerging sectors. This includes the Anusandhan National Research Foundation (ANRF) and the building up of Digital Public Infrastructure.

“The synergy between initiatives such as ANRF, the RDI Scheme, and key national missions demonstrates a unified vision to advance frontier technologies while strengthening academia-industry collaboration. Digital Public Infrastructure has further amplified India’s innovation capacity by making governance and data systems more accessible and efficient,” the government said.

“Together, these efforts are transforming India’s R&D landscape into one that is inclusive, future-ready, and globally competitive, driving sustainable growth and positioning India as a leading force in science, technology, and innovation,” he added.

–IANS

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