PM Modi Launches ₹1 Lakh Crore RDI Fund to Boost Private Research Investment
Prime Minister Narendra Modi has launched a massive ₹1 lakh crore Research, Development and Innovation (RDI) Fund to accelerate private sector investment in scientific research. The landmark initiative was announced at the inaugural Emerging Science Technology and Innovation Conclave (ESTIC), bringing together policymakers, innovators and global leaders to advance India’s Viksit Bharat 2047 vision.
Key Announcements
- ₹1 lakh crore RDI Fund for private research investment
- Two-tier funding structure managed by Department of Science and Technology
- Special Purpose Fund within Anusandhan National Research Foundation
- Coffee table book on India’s scientific achievements released
- Vision document for science and technology unveiled
How the RDI Fund Will Operate
The Department of Science and Technology will serve as the nodal ministry for the RDI Fund, which features a unique two-tiered structure. At the first level, a Special Purpose Fund (SPF) will be established within the Anusandhan National Research Foundation (ANRF) to manage the ₹1 lakh crore corpus.
Unlike direct funding models, the RDI Fund will not invest directly in industries and startups. Instead, it will channel capital through second-level fund managers including Alternative Investment Funds (AIF), Development Finance Institutions (DFI), and Non-banking Finance Companies (NBFCs).
Expert-Driven Investment Decisions
Recommendations for financial support will be made by second-level fund managers through specialized investment committees. These committees will comprise experts from financial, business, and technical domains, ensuring decisions are made at arm’s length from government influence.
