The Union Cabinet has today approved a landmark ₹1 lakh crore Research, Development & Innovation (RDI) scheme aimed at supercharging private sector innovation. Chaired by Prime Minister Narendra Modi, the initiative will be overseen by the Anusandhan National Research Foundation (ANRF), with implementation handled by the Department of Science & Technology .

It provides long-term, concessional financing—including loans and equity—to private firms and startups working in sunrise sectors.

The move addresses chronic funding constraints that have dampened competitiveness and slowed tech adoption

This is part of a broader push in India to shift from a “copy-paste” model to one driven by original creation, complementing earlier announcements like the ₹20,000 crore budget infusion for R&D

This bold RDI scheme aims to help India achieve self-reliance in critical technologies—semiconductors, AI, biotech, quantum, and more—by giving private sector players the financial muscle they need to innovate and scale.

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