India's Bold Leap: Launch of Rs 1 Lakh Crore RDI Fund to Ignite Innovation

Prime Minister Narendra Modi has announced the Rs one lakh crore Research, Development, and Innovation (RDI) Fund to boost private sector investment in R&D. The fund, introduced at the ESTIC, aims to drive India's Viksit Bharat 2047 vision, under the oversight of the Department of Science and Technology.

Prime Minister Narendra Modi unveiled a groundbreaking Rs one lakh crore Research, Development, and Innovation (RDI) Fund aimed at catalyzing private sector investment in research and development.

The announcement came during the first Emerging Science Technology and Innovation Conclave (ESTIC), which seeks to align policy makers and innovators with the government's Viksit Bharat 2047 vision.

The Department of Science and Technology will oversee the RDI Fund, which operates on a two-tier structure to efficiently channel investments without direct contact with industry or startups.

(With inputs from agencies.)