In a major push to make India a global hub of innovation, Prime Minister Narendra Modi on Monday officially launched the Research, Development, and Innovation (RDI) Scheme Fund, worth ₹1 lakh crore, during the Emerging Science, Technology, and Innovation Conclave (ESTIC) 2025.
The RDI Fund, first announced in the 2024–25 interim budget, aims to provide long-term, low or zero-interest financial support to private sector companies engaged in research and innovation, particularly in sunrise sectors such as AI, quantum tech, semiconductors, space, and biotech.
The scheme will roll out ₹20,000 crore for FY 2025–26, with the remaining distributed over six years. Unlike traditional funding models, it focuses on deep-tech equity investments rather than short-term loans or grants.
PM Modi emphasized that the initiative aims to ensure “Ease of Doing Research”, doubling India’s R&D budget in the past decade and resulting in a 17-fold increase in patent registrations. He highlighted that 43% of STEM students in India are women, surpassing the global average.
The three-day ESTIC 2025, from November 3–5, unites academia, industry, and policymakers to explore 11 key innovation areas, including AI, quantum technology, bio-manufacturing, and energy solutions.
Modi concluded, “India is not just a consumer of technology — we are becoming a global creator of innovation.”
