New Delhi, Dec 13 (UNI) Minister of Science and Technology Jitendra Singh on Saturday said the government’s proposed Rs 1 lakh crore Research, Development and Innovation (RDI) Fund is aimed at boosting private sector participation in high-risk research, intellectual property creation, and technology commercialisation.
Speaking at the RDI Fund Outreach Programme in New Delhi, Singh said the fund would provide long-term financial support to private companies through low-interest loans and equity-linked instruments, seeking to lower the risks associated with deep-tech research and long gestation projects.
According to the minister, the fund departs from traditional public financing models by offering unsecured loans without collateral or guarantees, with interest rates kept below 3%. He said this approach is intended to encourage private firms to undertake ambitious research that may not immediately attract commercial financing.
Singh said government-backed innovation ecosystems have played a critical role in technological breakthroughs globally, citing examples such as publicly funded space and defence research in the United States. India, he added, is now attempting a similar strategy by positioning the state as an early enabler of private-sector innovation.
Describing the RDI Fund as a form of initial support, Singh said companies would be expected to take projects forward independently once early-stage risks are mitigated. He linked the initiative to recent policy reforms that have opened sectors such as space, atomic energy, and advanced technologies to private participation.
Officials said the fund’s financial design allows flexibility in project cost-sharing, enabling firms to mobilise additional resources from investors, external partners, and philanthropic organisations. The objective, Singh said, is to strengthen the entire innovation pipeline, from research and development to large-scale deployment.
Urging the stakeholders to seize the opportunity presented by the RDI Fund, Singh said, “If we move forward with courage, conviction, and trust, this will become a win-win model for industry, society, and the nation.”
The RDI Fund is part of a broader policy push covering areas such as artificial intelligence, semiconductors, quantum technologies, cyber-physical systems, medical technology, and clean energy, alongside reforms in the space and nuclear sectors.
