India Launches RDI Scheme to Boost Private Sector R&D
The Union Cabinet of India has approved the Research, Development, and Innovation (RDI) Scheme, aimed at incentivizing private sector participation in R&D with a total outlay of ₹1 lakh crore over six years. The scheme focuses on strategic technology sectors including energy security, climate action, and deep technologies like AI and quantum computing. Financing will be provided through long-term loans and equity financing, with a maximum of 50% of project costs covered. The Department of Science & Technology will oversee the implementation, following extensive consultations with stakeholders.
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