New Delhi: In a landmark interaction with industry leaders, entrepreneurs, and innovators in Delhi, Union Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh, described the new ₹1 lakh crore Research, Development and Innovation (RDI) Fund as a “transformational catalyst” that will empower India’s private sector to take the lead in deep-tech research and innovation.
Speaking at the RDI Fund Outreach Programme, Dr Singh said this initiative marks a historic turning point in India’s science and technology ecosystem. The Fund, he explained, is designed to support private enterprises through long-term, unsecured, low-interest loans and equity-based instruments—something rarely seen in global innovation models.
“This is not charity or benevolence; it is a catalyst,” Dr Singh said, emphasising that the government’s role is to enable the private sector to “accelerate and lead” India’s rise in advanced technologies. He added that the initiative underlines Prime Minister Narendra Modi’s vision to make India a global hub for research, innovation, and intellectual property creation.
Drawing parallels with major international institutions, Dr Singh noted that many global innovation ecosystems, including those supporting NASA, have expanded through strong government backing. He said India is now adopting a similar approach—partnering with its private sector to nurture high-risk, high-reward research ventures that can compete globally.
“The RDI Fund is like the initial push that helps start a stalled engine,” Dr Singh remarked. “Once it gains momentum, the private sector will take it forward, fuelling growth and technological progress.”
One of the most distinctive aspects of the RDI Fund is its financial structure. Dr Singh described it as a “global first” in public financing for private innovation, highlighting that the loans are unsecured and come without collateral or guarantees. With interest rates of less than three percent, the initiative signals unprecedented trust in India’s entrepreneurs and innovators.
Beyond funding, the Minister explained that the RDI Fund encourages collaboration, allowing companies to attract investments from external partners, philanthropic foundations, and global investors. This flexibility, he said, ensures projects can move smoothly from the research stage to real-world deployment, strengthening India’s innovation value chain.
Dr Singh credited the Fund as part of a broader national ecosystem of science and technology missions — spanning artificial intelligence, semiconductors, quantum science, MedTech, cyber-physical systems, clean energy, and the reform-driven expansion of space and nuclear sectors. These initiatives, he said, are all aligned to boost India’s position in cutting-edge technologies.
In his closing remarks, Dr Singh expressed confidence that the RDI Fund would spark a new wave of private-led research and innovation. “India stands at the threshold of a deep-tech transformation powered by courage, conviction, and trust,” he concluded. “If we move forward together, this will become a win-win model for industry, society, and the nation.”