Jitendra Singh Urges Industry to Drive Innovation as ₹1 Lakh Cr RDI Fund Rolls Out

Officials outlined the operational framework of the RDI Fund, which was approved by the Union Cabinet earlier this year and formally launched by the Prime Minister in November.

At a high-level round table held during the India International Science Festival (IISF) 2025 in Panchkula, Union Minister for Science and Technology Dr. Jitendra Singh urged industry leaders, investors, researchers and startups to take a far more proactive role in shaping India’s innovation future. With the government preparing to operationalise the ₹1 lakh crore Research, Development and Innovation (RDI) Fund, he stressed that the next decade must be defined by industry-led, market-ready innovation.

“Success of science must be measured in impact, not publications”

Addressing participants from academia, industry and the startup community, Dr. Singh said India must now focus on translational research—science that reaches society in the form of jobs, technologies, products and solutions. He stressed that while public institutions continue to build foundational research capacity, private sector involvement is indispensable for scaling innovation in frontier technologies.

He reiterated that India can no longer rely on government-backed research alone and that the country’s ambitions in AI, semiconductors, biotechnology, deep-tech manufacturing, digital economy and clean energy require strong private participation.

Understanding the RDI Fund: A New Model for National Innovation

Officials outlined the operational framework of the RDI Fund, which was approved by the Union Cabinet earlier this year and formally launched by the Prime Minister in November. The design marks a shift from traditional grants toward structured, professionally managed financing.

Key features include:

• ANRF as the first-level custodian, ensuring transparency and alignment with national priorities.

• Deployment by second-level fund managers: Alternate investment funds, development finance institutions, the Technology Development Board (TDB), BIRAC, and other specialised agencies.

• Long-term, low-interest loans or equity support as the primary financing mechanism.

• Focus on high-impact, near-commercial and scalable technologies rather than early-stage exploratory research.

Officials emphasised that this model mirrors global innovation financing systems and is intended to de-risk private research investments, bridging the longstanding gap between lab discoveries and commercialisation.

A Decade of Progress: Strong Foundations for the RDI Push

Dr. Singh noted that India has:

• Become one of the world’s top contributors to scientific publications and patents

• Developed the third-largest startup ecosystem globally

• Expanded R&D capabilities in climate science, health technologies, digital infrastructure and space

• Strengthened academia–industry partnerships through ANRF-supported programmes

He said the RDI Fund will accelerate this momentum by supporting market-ready innovations that can be manufactured in India and exported globally, reinforcing India’s move from technology consumer to technology creator.

Strengthening Convergence With ANRF

Participants were briefed on how the new fund complements ongoing ANRF initiatives, including:

• Basic and frontier research grants

• Young scientist fellowships

• Convergence research centres

• Industry–academia collaborative programmes

Together, these efforts will create a pipeline from discovery to deployment, enabling technologies to move seamlessly from universities to industry.

Stakeholder Input Welcomed

Dr. Singh invited industry and investors to offer feedback on the implementation modalities of the RDI Fund, signalling the government’s readiness to refine processes based on stakeholder needs.

“This is a shared national project. We need ambition, innovation and risk appetite from India’s private sector,” he said.

Driving Viksit Bharat@2047 Through Indigenous Innovation

Officials underscored that the RDI Fund will be a pivotal driver of India’s Viksit Bharat@2047 aspirations by enabling companies to invent in India rather than only manufacture technologies designed elsewhere. It will reshape how India finances innovation, stimulates high-value R&D, and positions Indian industries as global leaders in breakthrough technologies.