Jitendra Singh Launches ₹1 Lakh Crore RDI Fund for Private Tech Innovation

Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh, on Wednesday launched the first open call of the Technology Development Board (TDB) under the Research, Development and Innovation (RDI) Fund, a landmark initiative aimed at strengthening India’s innovation ecosystem through structured, long-term financing for indigenous technologies.

Unveiled under the Anusandhan National Research Foundation (ANRF), the RDI Fund is designed to support commercialization of high-risk, high-impact technologies, offering a shift from traditional grant-based funding to government-backed financial instruments. Singh emphasized that the fund addresses a long-standing gap by enabling direct support to private sector innovation, which has often relied on philanthropy or CSR-led initiatives.

With a total corpus of ₹1 lakh crore, the RDI Fund provides concessional financing at interest rates of 2–4 per cent, with repayment tenures of up to 15 years, including moratorium options. The initiative offers collateral-free loans, equity, or hybrid instruments to reduce financial risk while ensuring accountability and long-term sustainability for technology developers.

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The first call under the RDI framework has already received 191 proposals, primarily from the private sector, signaling growing confidence in the government’s push for innovation-led growth. The scheme prioritizes projects at Technology Readiness Level (TRL) 4 and above, particularly in areas such as artificial intelligence, energy, and deep-tech, with up to 50 per cent funding support from Second Level Fund Managers (SLFMs).

Singh highlighted that the fund is structured to enable sustainable commercial deployment rather than grants, with a focus on scientific, technological, financial, and commercial merit. Proposals are expected to be evaluated within eight weeks, ensuring timely access to capital for eligible innovators and enterprises across the country.

Launched formally by Prime Minister Narendra Modi in November 2025 and approved by the Union Cabinet in July 2025, the RDI Fund represents a strategic step in building India’s indigenous technological capabilities. Singh urged innovators, industry leaders, and media to promote awareness of the initiative to ensure maximum participation and nationwide impact.

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