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In a decisive and forward-looking move, the Union Cabinet chaired by Prime Minister Narendra Modi has approved the long-awaited Research Development and Innovation (RDI) Scheme with a staggering outlay of ₹1 lakh crore. The scheme is poised to redefine India’s innovation, research, and technology ecosystem by providing long-term, affordable financing to the private sector — enabling the nation to stake its claim as a global innovation and product powerhouse by 2047.
The RDI Scheme has been carefully structured to address one of India’s long-standing challenges: the lack of private-sector-led investment in high-impact research and innovation. By offering low or nil-interest, long-tenure loans and risk capital, the scheme directly incentivizes the private sector to invest in sunrise domains and strategic sectors that are critical for India’s economic and technological sovereignty.
According to the government’s official statement, the scheme will:
✅ Encourage private-sector innovation in sunrise sectors with strategic importance
✅ Support technology acquisition of high strategic relevance
✅ Finance transformative projects up to higher levels of Technology Readiness (TRL)
✅ Facilitate a Deep-Tech Fund of Funds to build a robust technology venture ecosystem
The RDI Scheme’s governance structure will be anchored by the Anusandhan National Research Foundation (ANRF), with its Governing Board chaired by the Hon’ble Prime Minister. The scheme will be implemented through the Department of Science and Technology (DST), with oversight by an Empowered Group of Secretaries led by the Cabinet Secretary — ensuring that the program stays mission-aligned and results-focused.
Industry Leaders Applaud a Landmark Reform
Industry captains and technology pioneers have welcomed this path-breaking step as a historic opportunity for India’s R&D landscape.
Ashok Chandak, President of IESA and SEMI India, described the scheme as a landmark step in India’s journey toward becoming a global innovation hub.
“By unlocking ₹1 lakh crore of long-term capital for sunrise and strategic sectors, this initiative will catalyze private-sector-led innovation in areas critical to India’s economic and technological sovereignty — including semiconductors, deep-tech, and electronics,” Chandak stated.
He highlighted that IESA has already started collaborating with the ANRF, DST, and MeitY to advance the RDI mission. According to Chandak, IESA will play a proactive role by:
Implementing identified high-impact R&D opportunities in semiconductors, electronic systems, and embedded technologies
Facilitating collaboration between startups, academia, and industry to accelerate technology readiness
Enabling industry sponsorships and funding high-impact R&D projects
Supporting commercialization pipelines and deep-tech venture growth
“The RDI scheme has the potential to transform India’s innovation landscape — and IESA is committed to being a strategic enabler in this journey,” Chandak affirmed.
Translational Research to Power a Product Nation
Dr. Ajai Chowdhry, Founder of HCL and Chairman of the EPIC Foundation, hailed the Cabinet’s decision as a crucial milestone to fulfill India’s Viksit Bharat 2047 aspirations:
“This initiative will be a crucial step towards achieving technology sovereignty and realising the vision of Viksit Bharat by 2047. I warmly welcome the Union Cabinet's approval of the Research Development and Innovation (RDI) Scheme with a substantial outlay of ₹1 lakh crore, a milestone I've eagerly anticipated for the past 2-3 years,” he said.
“Covid-19 catapulted us to the top league of connected nations. We made the right choices and the world watched us do that. Recently, Operation Sindoor has taught us another valuable lesson: we need belief in our own capabilities, invest in secure and indigenous infrastructure, become a product nation, and lead with conviction, not dependency,” Dr. Chowdhry added.
He underscored that placing the scheme under DST, with the Prime Minister personally chairing the ANRF’s Governing Board, sends a powerful policy signal of India’s unwavering commitment to homegrown, secure, and scalable innovation.
