In a transformative step to bolster India’s research and innovation ecosystem, the Union Cabinet, chaired by Hon’ble Prime Minister, has approved the Research Development and Innovation (RDI) Scheme with a corpus of Rs. One lakh Crore.

Recognizing the critical role that the private sector plays in driving innovation and commercializing research, the RDI Scheme aims to provide long-term financing or refinancing with long tenors at low or nil interest rates to spur private sector investment in RDI. The scheme has been designed to overcome the constraints and challenges in funding of private sector and seeks to provide growth and risk capital to sunrise and strategic sectors to facilitate innovation, promote adoption of technology and enhance competitiveness.