New Delhi, July 1: In a major push to strengthen India’s innovation and research ecosystem, the Union Cabinet on Tuesday approved the Research, Development and Innovation (RDI) Scheme with a corpus of ₹1 lakh crore. The initiative is aimed at scaling up R&D efforts in strategic and sunrise sectors, encouraging private sector participation and enhancing national competitiveness.
Information and Broadcasting Minister Ashwini Vaishnaw said the scheme acknowledges the pivotal role of the private sector in driving innovation and commercialising research. It will offer long-term financing or refinancing at concessional or zero interest rates to incentivise private investment in high-impact RDI projects.
Designed to bridge critical funding gaps, the scheme seeks to provide growth and risk capital in sectors vital for economic security, strategic interests, and self-reliance. It will support projects with high Technology Readiness Levels (TRL) and enable acquisition of critical technologies, while also promoting the creation of a Deep-Tech Fund of Funds.
The Anusandhan National Research Foundation (ANRF), chaired by the Prime Minister, will steer the scheme’s strategic direction. Its Executive Council will define project guidelines, while an Empowered Group of Secretaries (EGoS) led by the Cabinet Secretary will monitor implementation and approve key changes.
The RDI Scheme will follow a two-tiered funding structure. A Special Purpose Fund (SPF) within ANRF will act as the central fund pool. From there, funds will be channelled to second-level fund managers, who will provide long-term, low-interest loans or equity support, especially for startups and deep-tech ventures.
The Department of Science and Technology (DST) will serve as the nodal agency for the scheme’s rollout.
By addressing long-standing financial constraints in private R&D, the RDI Scheme aims to foster a vibrant, self-reliant innovation ecosystem—laying the foundation for Viksit Bharat@2047.
