PM Modi unveils Rs 1 lakh crore RDI fund to spur private investment in research
Prime Minister Narendra Modi on Monday unveiled the Rs 1 lakh crore Research, Development and Innovation (RDI) Fund to catalyse private sector investment in cutting-edge research and development.
The initiative was launched at the inauguration of Emerging Science Technology and Innovation Conclave (ESTIC), a platform bringing together policymakers, innovators, and global experts to advance the government’s Viksit Bharat 2047 vision.
During the event at Bharat Mandapam in New Delhi, the Prime Minister also released a coffee table book highlighting India’s scientific milestones and a vision document outlining the country’s future roadmap for science and technology.
The Department of Science and Technology (DST) will serve as the nodal ministry for the RDI Fund, which will follow a two-tier funding model.
At the first tier, a Special Purpose Fund (SPF) will be set up under the Anusandhan National Research Foundation (ANRF) to hold and manage the Rs 1 lakh crore corpus.
Instead of directly investing in industries or start-ups, the Fund will route capital to second-tier fund managers—including Alternative Investment Funds (AIFs), Development Finance Institutions (DFIs), and Non-Banking Financial Companies (NBFCs).
These fund managers, through independent investment committees comprising financial, business, and technical experts, will recommend projects for support—ensuring professional evaluation and autonomy from government influence.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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