PM Modi launches ₹1 lakh crore RDI Fund to boost private sector research, innovation

Prime Minister Narendra Modi on Monday launched a ₹1 lakh crore Research, Development and Innovation (RDI) Fund to encourage private sector investment in high-risk, high-impact research projects, as part of the government’s push to accelerate India’s scientific and technological capabilities under its ‘Viksit Bharat 2047’ vision.

The fund was launched at the inaugural Emerging Science, Technology and Innovation Conclave (ESTIC) 2025, a platform bringing together policymakers and innovators to chart a roadmap for India’s innovation-led growth.

“For the first time, capital is being made available for projects that carry high risk but promise high impact,” Modi said, adding that the fund was designed to “strengthen capabilities and open up new avenues of opportunity” for the private sector.

Dispelling concerns about the fund’s utilisation, the Prime Minister quipped, “You might be wondering if this ₹1 lakh crore will stay with Modi. That’s why you’re not clapping! But let me tell you, this amount is for you.”

The Department of Science and Technology (DST) will serve as the nodal ministry for the scheme, which will operate through a two-tiered structure.

A Special Purpose Fund will be set up within the Anusandhan National Research Foundation (ANRF) to manage the corpus.

The Fund will not directly invest in industries and start ups but will channel capital to second-level fund managers, who can be Alternative Investment Funds (AIF), Development Finance Institutions (DFI), Non-banking Finance Companies (NBFCs), among others.

Investment committees comprising experts from finance, business and technology will make recommendations independently.

During his address, Modi underlined India’s transformation into a technology-driven nation, citing the rapid development of an indigenous COVID-19 vaccine and the rollout of the world’s largest vaccination programme as examples of India’s growing innovation capacity.

“India is no longer a consumer of technology, but a pioneer in technology-driven transformation,” he said. “This became possible because today we have the world’s first and most successful digital public infrastructure.”

The Prime Minister also congratulated scientists for successfully launching the country’s heaviest communication satellite on Sunday, calling it “another milestone in India’s scientific journey.”

Highlighting the growing participation of women in science, Modi said the number of women involved in patent filings had surged from fewer than 100 a decade ago to over 5,000 annually. “The share of women in STEM education is about 43%, higher than the global average,” he noted.

Modi also launched a coffee table book on the scientific achievements of India and a vision document for science and technology.