₹1 Lakh Crore RDI Fund Enters Execution Phase; Industry-Backed Projects to Receive Funding by End-January

Chairing the review, Dr Jitendra Singh stressed the need for timely execution, inter-departmental coordination and outcome-oriented funding.

India’s flagship Research, Development and Innovation (RDI) Fund—a ₹1 lakh crore initiative to catalyse private sector-led, high-impact research—has entered the execution phase, with funding for industry-backed projects set to begin by the end of January 2026.

This update was shared following a high-level review meeting chaired by Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences, and Minister of State for PMO, Atomic Energy, Space, Personnel, Public Grievances and Pensions, Dr Jitendra Singh.

The move follows the announcement made by Prime Minister Shri Narendra Modi on 3 November 2025, when the RDI scheme was formally rolled out with the launch of its implementation guidelines, notice inviting applications and a dedicated digital portal.

First Funding Institutions Identified

The Department of Science & Technology (DST) has approved two public sector institutions as the first Second-Level Fund Managers (SLFMs) under the RDI Fund:

• Technology Development Board (TDB) – for projects across all RDI sunrise and strategic sectors

• Biotechnology Industry Research Assistance Council (BIRAC) – for biotechnology and allied domains

Both institutions are expected to issue their first calls for proposals by the end of January 2026, enabling early deployment of RDI resources to industry-linked ventures beyond Technology Readiness Level (TRL-4).

₹4,000 Crore Initial Allocation

The Minister was informed that the Empowered Group of Secretaries, in its meeting on 12 January 2026, approved TDB and BIRAC as SLFMs in line with decisions of the Executive Council of the Anusandhan National Research Foundation (ANRF).

• ₹2,000 crore each will be allocated to TDB and BIRAC in the first quarter

• This takes the initial deployment under the RDI scheme to ₹4,000 crore

• Both institutions will soon invite proposals from startups, companies and industry-led consortia

Strengthening Industry–Research Linkages

Approved by the Union Cabinet on 1 July 2025, the RDI Fund is designed to support high-risk, high-impact research, accelerate translational innovation, and strengthen linkages between public research institutions, startups and industry.

Officials briefed the Minister that significant stakeholder feedback was received after the scheme’s rollout. These inputs were reviewed, clarifications issued, and the online portal operationalised to receive applications for additional Second-Level Fund Managers.

The last date for applications from other prospective SLFMs is 31 January 2026. Eligible entities include:

• Alternate Investment Funds (AIFs)

• Development Finance Institutions (DFIs)

• Non-Banking Finance Companies (NBFCs)

• Focused Research Organisations (FROs)

Minister’s Direction: Speed, Coordination and Outcomes

Chairing the review, Dr Jitendra Singh stressed the need for timely execution, inter-departmental coordination and outcome-oriented funding.

“Public investment in research and innovation must translate into measurable outcomes for industry and society. The RDI framework is meant to bridge the gap between laboratories and markets, enabling scientific ideas to scale into products, services and solutions,” the Minister said.

He underlined that private sector participation in R&D is central to the RDI vision and called for streamlined procedures, transparent guidelines and ease of participation to attract credible industry partners.

Towards a Stronger Innovation Economy

The RDI Fund represents one of the largest public commitments to research-led growth in India, aimed at building a globally competitive innovation ecosystem aligned with national development priorities.

The meeting was attended by Secretaries and senior officials from science ministries and departments, with the proceedings opening with welcome remarks by Prof Ajay K. Sood, Principal Scientific Adviser to the Government of India, followed by opening remarks by Dr Jitendra Singh.

With funding now set to flow, the RDI initiative marks a decisive shift from policy intent to on-ground execution, positioning India to accelerate industry-driven innovation, deep-tech development and technology-led economic growth.