PM Modi launches RDI Fund to spur private investment in research

Prime Minister Narendra Modi on Monday (November 3, 2025) launched the ₹1 lakh crore RDI Fund to promote private sector investments in research and development.

He launched the Research, Development and Innovation (RDI) Fund at the first-ever Emerging Science Technology and Innovation Conclave (ESTIC) that brings together policy makers, innovators and global visionaries to drive the government’s Viksit Bharat 2047 vision.

Mr. Modi also launched a coffee table book on scientific achievements of India and a vision document for science and technology.

The Department of Science and Technology (DST) is the nodal ministry of the RDI Fund that will operate through a two-tiered funding structure.

At the first level, a Special Purpose Fund (SPF) will be established within the Anusandhan National Research Foundation (ANRF), which will serve as the custodian of the ₹1 lakh crore corpus.

The Fund will not directly invest in industries and start ups but will channel capital to second-level fund managers, who can be Alternative Investment Funds (AIF), Development Finance Institutions (DFI), Non-banking Finance Companies (NBFCs), among others.

Recommendations for support will be made by second-level fund managers through investment committees comprising experts from financial, business, and technical domains operating at arm's length from the government.