Research, Development and Innovation (RDI) funding for industry-backed projects will commence by the end of January 2026, with the framework entering the execution phase, Union Minister of State (Independent Charge) for Science and Technology Dr Jitendra Singh announced on Monday.
Research, Development and Innovation (RDI) Fund chaired by the Minister, following up on the announcement made by Prime Minister Shri Narendra Modi on 3 November 2025. The RDI Fund, with a corpus of ₹1 lakh crore, aims to catalyse private sector-led research, high-risk innovation and industry-driven technology development.
Department of Science and Technology (DST) has approved the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC) as the first Second-Level Fund Managers (SLFMs) under the scheme. While TDB will manage projects across all RDI sunrise and strategic sectors, BIRAC will oversee biotechnology and allied domains.
Both institutions are expected to issue their first calls for project proposals by the end of January 2026, enabling early deployment of funds to innovation-led ventures that have crossed Technology Readiness Level (TRL)-4. An initial allocation of ₹2,000 crore each will be released to TDB and BIRAC in the first quarter, taking the total initial disbursement under the scheme to ₹4,000 crore.
Minister was informed that applications are also being invited from other prospective Second-Level Fund Managers, including Alternate Investment Funds (AIFs), Development Finance Institutions (DFIs), Non-Banking Financial Companies (NBFCs) and Focused Research Organisations (FROs), with the last date for submission set as 31 January 2026.
Chairing the meeting, Dr Jitendra Singh emphasised timely execution of the RDI scheme and close coordination among science departments. He underlined that public investment in research must translate into tangible outcomes for industry and society, and align with national development priorities. He also reviewed steps taken to streamline procedures, including revisions to implementation guidelines based on stakeholder feedback, to ensure transparency and ease of participation.
Minister reiterated that strengthening private sector participation in R&D remains a central objective of the RDI framework. The scheme is designed to promote translational research and strengthen linkages between public research institutions, startups and industry, enabling scientific outputs to move effectively towards commercialisation and societal application.
The review meeting was attended by Secretaries and senior officials from science ministries and departments. The proceedings opened with welcome remarks by Prof. Ajay K. Sood, Principal Scientific Adviser to the Government of India, followed by opening remarks by Dr Jitendra Singh.
