The Union Cabinet on Tuesday approved a ₹1-trillion corpus for the Research Development and Innovation (RDI) Scheme, aiming to spur private-sector investment in strategic and high-growth sectors through long-term, low-cost funding.
“Recognising the critical role that the private sector plays in driving innovation and commercialising research, the RDI Scheme aims to provide long-term financing or refinancing with long tenors at low or nil interest rates,” the government said in a statement.
Addressing private funding gaps
The scheme is designed to address gaps in private-sector research funding by offering growth and risk capital to ‘sunrise sectors’ — industries with high growth potential such as deep-tech, AI, and green technologies.
The RDI scheme will also finance technology acquisition of strategic importance, enabling India to strengthen its domestic capabilities in key areas of global competition.
