Research Development and Innovation Fund (RDIF) -an independent business unit under ANUSANDHAN NATIONAL RESEARCH FOUNDATION (Department of Science and Technology, Govt. of India)

The Government of India has approved to set up a ₹1 Trillion Research, Development and Innovation (RDI) scheme aimed at spurring private sector-driven R&D ecosystem. Department of Science & Technology (DST), Ministry of Science & Technology is the nodal agency for implementation of the scheme. RDI scheme will operate through a two-tiered funding structure. At the first level, a Special Purpose Fund (SPF) referred to as RDI Fund has been established within the Anusandhan National Research Foundation (ANRF), which will serve as the custodian of the ₹1 Trillion corpus. The Fund will channel capital to second-level fund managers who can be Alternative Investment Funds (AIF), Development Finance Institutions (DFI), Non-banking Finance Companies (NBFCs), among others which will provide financing to private sector in the form of long term low interest loans or equity.