PM Modi Launches ₹1 Lakh Crore RDI Fund to Boost India's Private Sector Research

Prime Minister Narendra Modi is set to launch the ₹1 lakh crore Research Development and Innovation (RDI) Scheme Fund at the Emerging Science and Technology Innovation Conclave (ESTIC) 2025 in New Delhi, aimed at boosting India's private sector-driven research and development ecosystem. The scheme will provide long-term low or zero-interest loans and equity investments over six years to encourage private investment in deep-tech areas, excluding grants and short-term loans. ESTIC 2025, scheduled from November 3 to 5, will host over 3,000 participants including Nobel laureates, scientists, innovators, and policymakers, focusing on 11 thematic areas such as Artificial Intelligence, Semiconductor Manufacturing, Energy, Health Technologies, and Quantum Science. The initiative intends to foster collaboration among academia, industry, and government to strengthen India’s innovation landscape and reduce dependence on imported technologies. It also aims to promote entrepreneurship and the creation of world-class research centers, positioning India as a global leader in science and technology. The conclave will feature talks, panel discussions, and technology showcases to facilitate networking and mentorship for startups and young researchers.