DST fast-tracks fund managers for ₹1L-cr innovation boost
The Department of Science and Technology (DST) is moving quickly to hire fund managers for the massive ₹1 lakh crore Research Development and Innovation Fund (RDIF), launched by Prime Minister Narendra Modi earlier this month.
The goal? Get more private companies to invest in research and development.
Arvind Kumar from DST shared that these managers will be in place by March, so the fund can get rolling before the Budget.
Where the money's going—and why it matters
RDIF will focus on hot sectors like AI, quantum tech, and biotech, with funds directed toward startups and tech-driven companies.
Even though India's R&D spending has doubled recently, it still lags behind global standards—stuck at just 0.6-0.7% of GDP.
Kumar pointed out that industry spending often goes underreported, distorting the real innovation picture.
The fund aims to spur private sector investment and give Indian innovation a real push forward.