Prime Minister Narendra Modi on Monday unveiled the Rs 1 lakh crore Analysis, Growth and Innovation (RDI) Fund to spice up personal sector-led analysis and growth (R&D) ecosystem in India.

The announcement got here through the inaugural session of the first-ever Rising Science, Know-how and Innovation Conclave (ESTIC 2025) at Bharat Mandapam in New Delhi.

The RDI Fund, anchored by the Division of Science and Know-how (DST), will function by means of a two-tier construction, with a Particular Objective Fund housed throughout the Anusandhan Nationwide Analysis Basis (ANRF) serving because the custodian of the Rs 1 lakh crore corpus.

As a substitute of investing immediately in startups or industries, the Fund will channel capital by means of skilled fund managers, together with Various Funding Funds (AIFs), Growth Finance Establishments (DFIs), and Non-Banking Finance Firms (NBFCs). These second-level managers will suggest help by means of unbiased funding committees comprising consultants from monetary, enterprise, and technical domains.

Launching the initiative, Modi mentioned the Fund represents a transformative shift in India’s method to analysis capital. “For the primary time, capital is being made accessible for high-risk and high-impact initiatives,” he mentioned, underscoring the federal government’s effort to “promote analysis and growth within the personal sector” and make India a pioneer in technology-led innovation.

Highlighting India’s progress, Modi famous that the nation’s R&D expenditure has doubled over the previous decade, the variety of registered patents has surged seventeen-fold, and India now ranks because the world’s third-largest startup ecosystem. Over 6,000 deeptech startups are at the moment working in frontier areas corresponding to clear vitality, superior supplies, and semiconductors, he added, noting the nation’s bio-economy has expanded from $10 billion in 2014 to over $140 billion in the present day.