NEWS – The Union Cabinet approved a ₹1 lakh crore Research, Development and Innovation (RDI) scheme for the private sector

HIGHLIGHTS

• It aims to boost corporate R&D by mitigating financial risks through long-term loans and equity investments
• The scheme will be managed by the Anusandhan National Research Foundation (ANRF), India’s apex science funding body
• Unlike ANRF grants for academia, this fund is exclusively for private firms to drive innovation
• Second-level fund managers like SIDBI or BIRAC will disburse funds to selected companies
• The scheme targets sunrise sectors like biotechnology, robotics, drones, climate change, and deep tech
• Funds will support tech acquisition, high-tech project development, and a dedicated deep tech fund of funds for startups
• India’s private R&D investment is low due to high risk and low returns, which the scheme seeks to address
• The ANRF board, chaired by the PM, will guide the programme while its executive council finalises guidelines
• The move signals a strategic push to transform India into a private-sector-driven innovation hub