Science and Technology Minister, Dr. Jitendra Singh today described the Research, Development, and Innovation (RDI) Fund as a catalyst to empower the private-sector-led innovation. Addressing the RDI Fund Outreach Programme in New Delhi, the Minister said the initiative is a global first in public financing for private-sector innovation. The one lakh crore rupee RDI fund offers unsecured loans without any collateral or guarantees, coupled with a minimal interest rate of less than 3 per cent.
The Minister said that this framework reflects the Government’s courage, conviction and deep trust in India’s innovators. He added that the Fund is part of a wider national ecosystem that includes missions in AI, semiconductors, quantum technologies, cyber-physical systems, MedTech, clean energy, along with space and nuclear sectors. Dr Singh also noted that it will significantly strengthen the innovation value chain, seamlessly supporting the journey from discovery and development to large-scale deployment.
