PM Modi launches RDI Fund to spur private investment in research

Prime Minister Narendra Modi on Monday, November 3, 2025, launched the Rs 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 Emerging Science Technology and Innovation Conclave (ESTIC), bringing 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 India’s scientific achievements and a vision document for science and technology.

The Department of Science and Technology (DST) is the central ministry of the RDI Fund, which will operate through a two-tier funding structure.

In the first phase, a Special Purpose Fund (SPF) will be set up under the Anusandhan National Research Foundation (ANRF), which will serve as the custodian of the ₹ 1 lakh crore corpus.

The fund will not invest directly in sectors and startups, but will transfer capital to second-tier fund managers, which could be Alternative Investment Funds (AIFs), Development Finance Institutions (DFIs), Non-Banking Finance Companies (NBFCs), among others.

Support proposals will be made by second-level fund managers through investment committees consisting of experts in financial, commercial and technical fields operating at arm’s length from the government.