RDI scheme a major boost for R&D and deep-tech in India: Industry

With a two-tiered financing structure, the new RDI fund will support deep-tech ventures through the ANRF and aims to attract global talent and long-term capital

The Union Cabinet’s approval of the Research Development and Innovation (RDI) Scheme on Tuesday, with a corpus of ₹1 trillion, is being seen as a major boost for research and development (R&D) and deeptech investment in India.

 

Industry players and associations welcomed the move as a step in the right direction, given that India’s R&D investment has long been a concern. The country allocates just 0.64 per cent of its gross domestic product to R&D — far below the 2–5 per cent invested by countries such as the US, Japan, and China.

 

Many are hoping India might attempt something similar