Why in news?
The Union Cabinet approved the ₹1 lakh crore Research Development and Innovation (RDI) Scheme to boost private-sector investment in high-end research and deep‑tech innovation.
Scheme overview
- Nodal body: Implemented by the Department of Science and Technology and guided by the Anusandhan National Research Foundation (ANRF).
- Objectives: Scale up private-sector R&D in strategic and sunrise domains; encourage development of high Technology Readiness Level projects; support acquisition of critical technologies.
- Key features:
- ₹1 lakh crore corpus providing affordable finance for innovation.
- Two-tier financing: funds flow from a Special Purpose Fund under ANRF to second‑level fund managers, ensuring targeted support.
- Low or zero-interest loans and equity/risk capital for private firms and start‑ups.
- Deep‑tech Fund of Funds to nurture cutting-edge areas like AI, semiconductors, quantum tech and biotech.
- Support for acquiring foreign technologies to enhance domestic capabilities.
- Significance: Aims to close the R&D financing gap, promote self‑reliance (Atmanirbharta) in critical technologies and position India as a global hub for deep‑tech innovation.
