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NEW DELHI: Union Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh on Friday described the ₹1 lakh crore Research, Development and Innovation (RDI) Fund as a historic catalyst aimed at empowering India’s private sector to lead the next wave of research, intellectual property creation and commercialisation in frontier technologies.
Addressing the RDI Fund Outreach Programme in New Delhi, the Minister said the initiative represents a first-of-its-kind global model in which the government is providing long-term, unsecured, low-interest financial support to enable private-sector innovation.
“This is not charity or benevolence. It is a catalyst to support the private sector and accelerate India’s collective rise in deep technology,” Dr Singh said.
Highlighting global precedents, the Minister noted that major innovation ecosystems worldwide, including those supporting NASA, have thrived on strong government backing. India, he said, is now adopting a similar approach by equipping private industry to undertake high-risk, high-impact research and compete globally.
Drawing an analogy, Dr Singh described the RDI Fund as “the initial push to start a stalled engine,” after which the private sector is expected to take the lead, scale up operations and contribute to national growth. He added that the initiative reflects Prime Minister Narendra Modi’s reform-driven push to open sectors such as space, atomic energy and advanced technologies to private participation.
The Minister underscored the uniqueness of the Fund’s financial architecture, calling it a global first in public financing for private innovation. He said the Fund offers unsecured loans without collateral or guarantees at an interest rate of less than three per cent, setting a rare international precedent.
Dr Singh also highlighted the flexible project cost-sharing mechanism under the RDI Fund, enabling industry to mobilise resources from external investors, partners and philanthropic institutions. He said this framework demonstrates the government’s trust in Indian innovators and will strengthen the entire innovation value chain, from discovery and development to large-scale deployment.
The Minister noted that the RDI Fund is part of a broader national innovation ecosystem encompassing missions in artificial intelligence, semiconductors, quantum technologies, cyber-physical systems, medical technology, clean energy, and the expanding space and nuclear sectors.
Concluding his address, Dr Jitendra Singh said India stands on the cusp of a deep-tech transformation driven by a confident and ambitious private sector. “If we move forward with courage, conviction and trust, this will become a win-win model for industry, society and the nation,” he said.
