New Delhi: Prime Minister Narendra Modi on 3 November launched the Research Development and Innovation (RDI) Scheme Fund, a landmark initiative aimed at fostering a private sector-driven research and development ecosystem across India.
The announcement came during the inauguration of the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025 at Bharat Mandapam, New Delhi.
According to a statement from the Ministry of Science and Technology: “The scheme has a total outlay of Rs 1 lakh crore over six years, with Rs 20,000 crore allocated for FY 2025-26, funded from the Consolidated Fund of India. It offers long-term low or zero-interest loans, equity investments, and contributions to the Deep-Tech Fund of Funds. Grants and short-term loans are not provided under this scheme.”
Ahead of the announcement, PM Modi said the new initiative would provide a major push to India’s innovation ecosystem. In a social media post, he stated: “Let’s talk science and innovation! At around 9:30 AM, we will inaugurate the Emerging Science, Technology and Innovation Conclave (ESTIC) 2025 at Bharat Mandapam. This forum will bring together key stakeholders from the world of science, education, research and more. It’s a matter of immense joy that the Research Development and Innovation (RDI) Scheme Fund will also be launched, giving an impetus to several researchers across India.”
Union Minister Dr Jitendra Singh hailed the initiative as a transformative step for Indian science. “Today the world has begun to view us with respect and honour,” he said, adding that “our scientists and researchers possessed talent and capability, and the will to work hard… but perhaps lacked resources and a capable ecosystem. The Prime Minister gave top priority to science and innovation”.
