The Union Cabinet has approved a Rs.1 lakh crore Research, Development, and Innovation (RDI) Scheme to boost private sector-led research in strategic and emerging sectors. The scheme aims to support India's journey towards self-reliance and global leadership in advanced technologies.

Key Points:

• The scheme offers long-term, low or nil interest loans and funding support to private companies working in areas like AI, semiconductors, clean energy, quantum technologies, and biotechnology.
• A two-tiered structure will be adopted, with a Special Purpose Fund under the Anusandhan National Research Foundation (ANRF) overseeing the distribution of funds.
• The scheme includes support for a Deep-Tech Fund of Funds, encouraging equity-based financing alongside concessional loans.
• Governance will be led by the Prime Minister through the ANRF Governing Board, with implementation oversight by an empowered group of secretaries and the Department of Science and Technology (DST) as the nodal agency.
• The RDI Scheme is part of the broader “Viksit Bharat 2047” vision and aims to fill critical gaps in private R&D financing while strengthening India’s innovation ecosystem.