The Union Cabinet on Tuesday approved the Research Development and Innovation Scheme with an outlay of Rs 1 lakh crore, with the aim of bolstering India's research and innovation ecosystem.
The RDI Scheme plans to provide long term financing with low or nil interest rates to improve private sector investment in RDI, Union Minister Ashwini Vaishnaw said in a press briefing, following the Cabinet meeting.
The scheme will also help overcoming the challenges in funding the private sector along with providing growth and risk capital to sunrise and strategic sectors.
Additionally, the governing board of Anusandhan National Research Foundation, headed by the prime minister, will provide strategic direction to the RDI Scheme.
Key Objectives Of The Scheme
To scale up research development, and innovation in sunrise domains and in other sectors relevant for economic security, strategic purpose, and self-reliance.
Finance transformative projects at higher levels of technology readiness levels.
Promote the acquisition of technologies important to national interests and long-term strategic goals.
Support setting up of a deep-tech fund of funds.
Two-Tiered Funding Mechanism
The RDI Scheme will function on two-tiered funding mechanism. At the first level, a special purpose fund will be set up within the ANRF, acting as the custodian of funds.
SPF funds will be disbursed to various second-level fund managers through long-term concessional loans. These fund managers will assist R&D projects by providing long-duration financing at low or zero interest rates.
Equity-based funding may also be taken up to support startups. Additionally, contributions to the Deep-Tech Fund of Funds or other FoFs focused on research, development, and innovation may be considered.
RECOMMENDED FOR YOU
NDTV Profit Pulse On July 1 — Top 8 Stories At 8 P.M. Under 8 Minutes
Jul 01, 2025
Cabinet Approves Rs 1,853-Crore To Widen Paramakhudi-Ramanathanpuram National Highway Into Four Lane
Jul 01, 2025
Cabinet Passes Resolution Condemning The Imposition Of 1975 Emergency
Jun 25, 2025
Ola Electric, Ather Shares In Focus As Government Notifies Guidelines For EV Manufacturing Scheme
Jun 02, 2025
POPULAR