Prime Minister Narendra Modi launches the Rs 1 lakh crore RDI Scheme Fund at ESTIC 2025 to boost research and innovation in India (Photo: Pinterest)
Prime Minister Narendra Modi inaugurated the RDI Scheme Fund on Monday, a pathbreaking initiative to fast-track private sector innovation in India. Announced for the first time in the interim budget for 2024-25, the scheme has a mammoth corpus of Rs 1 lakh crore to accelerate breakthroughs in emerging technologies and industries.
He launched it at the Emerging Science, Technology and Innovation Conclave, ESTIC 2025 with a view to setting the country on the next trajectory of scientific and industrial growth.
The RDI Scheme Fund is designed to offer long-term, low-interest or zero-interest loans and equity support to private enterprises working in research intensive areas. In contrast with traditional grant based models, the emphasis of this fund is on sustainable financing for large-scale innovation. The scheme will disburse Rs 1 lakh crore over the next six years with Rs 20,000 crore marked for the fiscal year 2025-26.
Union Minister of State for Science and Technology Dr. Jitendra Singh clarified that the scheme won't provide short-term loans or grants but will include equity investments and support to Deep-Tech Fund of Funds is a model aimed at nurturing high-risk, high-impact startups in emerging domains.
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During the launch, PM Modi reiterated that the government was committed to developing a strong research ecosystem, elaborating on the initiative as per India’s increasing emphasis on Ease of Doing Research.
He pointed out that while India's research and development budget has increased twofold over the last decade, the number of registered patents has increased 17 times. These parameters point to a transition in the country towards innovation-led economic growth.
PM Modi also celebrated the fact that India has emerged as the third-largest startup ecosystem in the world and lauded the fact that 43% of STEM students in India are women, which is above the global average-an encouraging sign for inclusive innovation.
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This is viewed as a conclave that offers a platform for collaboration for academia, industry, research institutions, and government; thus, the ESTIC 2025 is being held from November 3rd through November 5th.
The event focuses on 11 thematic areas defining the future of technology, such as Artificial Intelligence, Advanced Materials, Quantum Science, Space Technologies, Semiconductor Manufacturing, Blue Economy, Bio-Manufacturing and Climate Science among others. ESTIC 2025 aspires to translate these discussions into actionable strategies, reinforcing India's ambition to lead the next global innovation wave.
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Disclaimer: Information is based on official government announcements and verified reports. Readers are advised to check official sources for updates.
