Rs 1 lakh Crore Fund To Boost Private Sector R&D, Says Jitendra Singh

Science and Technology Minister Jitendra Singh on Friday said that a fund of Rs 1 lakh crore will to boost the private sector to drive India's sovereign technology ambitions.

Singh made these remarks while addressing the ASSOCHAM Conference on 'Sovereign Tech for India's Digital Transformation' here.

He said the government has launched the ambitious Research, Development, and Innovation (RDI) Scheme to transform private sector R&D, particularly in sunrise and strategic sectors.

Singh said the scheme will provide long-term, low-interest loans and risk capital to support deep-tech, critical technologies, and transformative projects.

A dedicated ‘Deep-Tech Fund of Funds’ will also be established to scale up private investment in innovation.

The scheme will be anchored by the Anusandhan National Research Foundation and implemented by the Department of Science and Technology, Singh said.

"We appeal to the industry to come forward and harness the full spectrum of opportunities opened up by the Government. India’s technological footprint is expanding, and the world is watching," Singh said.