The Union government’s ambitious ₹1 lakh crore Research, Development and Innovation (RDI) Fund will play a pivotal role in transforming India into a global innovation hub by drawing the private sector deeper into research and technology development, Science and Technology Minister Dr. Jitendra Singh said on Saturday.
Speaking at a round table during the India International Science Festival (IISF) 2025 in Panchkula, Singh urged industry leaders, investors, startups and researchers to take greater ownership of India’s innovation agenda. He stressed that the impact of science policy must increasingly be measured through real-world outcomes rather than academic output alone.
“Public institutions cannot carry the burden of innovation by themselves. Private sector participation is essential for India’s ambitions in frontier technologies,” the Minister said.
The session introduced stakeholders to the structure of the RDI Fund, approved earlier this year and launched by the Prime Minister in November. Envisioned as a catalyst for private-led R&D, the fund will prioritise near-commercial technologies in sectors such as artificial intelligence, biotechnology, clean energy, deep-tech manufacturing, semiconductors and the digital economy.
Officials clarified that the fund will not issue direct grants to companies. Instead, it will operate through a multi-tiered system, with the Anusandhan National Research Foundation (ANRF) serving as the primary custodian. Disbursements will be managed by second-level fund managers including alternate investment funds, development finance institutions and specialised agencies such as the Technology Development Board (TDB) and BIRAC.
Support will be offered largely as long-term, low-interest loans or equity investments, particularly for projects poised for market deployment.
Highlighting India’s fast-growing research output, patent filings and vibrant startup ecosystem, Singh said the RDI Fund aims to address the persistent gap between laboratory research and commercialisation – a barrier that has long constrained India’s technological advancement.
He said the initiative aligns with the nation’s larger push for technological self-reliance and complements ANRF’s ongoing efforts to strengthen basic research, nurture young scientists and deepen academia–industry partnerships.
The Minister invited inputs from participants on operational aspects of the scheme, signalling flexibility in refining the model as it rolls out. “This is a shared national project,” he said, calling on industry to step forward with “ambition and risk appetite” for long-term research investment.
Officials noted that as India moves toward its Viksit Bharat@2047 vision, the RDI Fund is expected to accelerate the shift from manufacturing imported technologies to inventing and exporting homegrown innovations.
