PM Modi launches ₹1 lakh crore RDI Fund to boost private R&D investment

new delhi: prime minister narendra modi on monday launched the ₹1 lakh crore research, development and innovation (rdi) fund to encourage private sector participation in scientific research and innovation.the fund was unveiled at the first-ever emerging science, technology and innovation conclave (estic), which brings together policymakers, researchers, and industry leaders to advance the government's viksit bharat 2047 vision.modi also released a coffee table book highlighting india's scientific achievements and a vision document for the country's science and technology roadmap.the department of science and technology (dst) is the nodal agency for the rdi fund, which will operate through a two-tier funding structure. a special purpose fund (spf) will be set up within the anusandhan national research foundation (anrf) to manage the ₹1 lakh crore corpus.instead of directly funding industries or startups, the rdi fund will channel capital to second-level fund managers, such as alternative investment funds (aifs), development finance institutions (dfis), and non-banking finance companies (nbfcs).investment decisions will be made by committees of experts from finance, business, and technology operating independently of the government, officials said.