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India to launch 1 lakh crore research development and innovation scheme
India unveils a ₹1 lakh crore RDI scheme to boost private-sector innovation in biotech, clean energy and manufacturing.
The Indian government is set to launch a ₹1 lakh crore Research, Development and Innovation (RDI) scheme aimed at boosting private-sector innovation across deep-tech, biotech, clean energy and manufacturing. Budget documents show the fund will provide co-financing, grants and rapid-scale capital to startups and MSMEs. Analysts believe the move could increase India’s global competitiveness, help build domestic supply chains and attract foreign R&D collaboration. The initiative also sends a signal to investors about the government’s commitment to innovation-led growth and could improve venture-capital activity across sectors.