PM Modi launches ₹1 lakh crore RDI fund for private sector
Prime Minister Modi just rolled out the massive Research Development and Innovation (RDI) Scheme in New Delhi, kicking off with a ₹20,000 crore budget.
The plan? To boost cutting-edge research in areas like AI, semiconductors, clean energy, biotechnology, space, and other strategic areas—putting India's tech game on the global map.
How does the RDI scheme work?
Startups and private companies can get long-term loans at super low or even zero interest rates, plus equity support and access to a Deep-Tech Fund of Funds.
The scheme will cover up to half of project costs for advanced tech ideas (Tech Readiness Level 4+), all overseen by the Anusandhan National Research Foundation, with actual fund management and disbursement handled by designated Second-Level Fund Managers.
Why does it matter?
This move is all about making India more self-reliant in technology and encouraging homegrown innovation—right in line with the Atmanirbhar Bharat vision.
Over 3,000 people from academia, industry, and government joined the launch event to brainstorm on big themes like quantum science and bio-manufacturing.