Union Cabinet approves Research Development and Innovation Scheme
The Union Minister Ashwini Vaishnaw on Tuesday (July 1, 2025) said that the Union Cabinet has approved the Research Development and Innovation scheme for ₹1 lakh crore.
The key objectives of the scheme are: Encourage the private sector to scale up research, development, and innovation (RDI) in sunrise domains and in other sectors relevant for economic security, strategic purpose, and self-reliance; Finance transformative projects at higher levels of Technology Readiness Levels (TRL); Support acquisition of technologies which are critical or of high strategic importance; and Facilitate setting up of a Deep-Tech Fund of Funds. The Governing Board of Anusandhan National Research Foundation (ANRF), chaired by the Prime Minister, will provide overarching strategic direction to the RDI Scheme.
Recognising the critical role that the private sector plays in driving innovation and commercialising 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.
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Union Cabinet approves ₹1 lakh crore RDI scheme to boost private sector innovation, technology acquisition, and competitiveness. | Source: The Hindu
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