Dr. Jitendra Singh Unveils Global-First RDI Fund – Igniting India’s Innovation Engine

Union Minister of State (Independent Charge) for Science & Technology, Dr. Jitendra Singh today described the ₹1 lakh crore Research, Development, and Innovation (RDI) Fund as a historic catalyst designed to empower India’s private sector to drive the next wave of R&D, IP creation, and commercialization in frontier technologies.

Addressing the RDI Fund Outreach Programme in New Delhi, the Minister said the initiative represents a first-of-its-kind global model where the Government steps forward to financially enable private-sector innovation through long-term, unsecured, low-interest loans and equity-based instruments, signalling unprecedented trust and confidence in Indian industry.

“This is not charity or benevolence, it is a catalyst to support the private sector and accelerate India’s collective rise in deep-tech,” the Minister stated.

Dr. Jitendra Singh highlighted that across the world, major innovation ecosystems, such as those supporting NASA, have relied on strong government backing. India is now adopting a similar strategy by ensuring that private industry is equipped to take on ambitious, high-risk research and emerge globally competitive.

Drawing an analogy, the Minister said the RDI Fund acts like “the initial push to start a stalled engine”, after which the private sector is expected to take charge, scale up, and contribute significantly to national progress. He added that the initiative reflects Prime Minister Narendra Modi’s bold reforms, which have opened sectors such as space, atomic energy, and advanced technologies to private participation at an unprecedented pace.

Dr. Jitendra Singh underscored the uniqueness of the RDI Fund’s financial architecture, describing it as a global first in public financing for private-sector innovation. He highlighted that the Fund offers unsecured loans without any collateral or guarantees, coupled with a minimal interest rate of less than 3 percent, a rare precedent internationally.

The Minister also emphasized the flexibility built into the project cost-sharing mechanism, which enables industry to mobilize resources from external partners, investors, and philanthropic foundations. He said this framework reflects the Government’s courage, conviction and deep trust in India’s innovators and will significantly strengthen the innovation value chain, seamlessly supporting the journey from discovery and development to large-scale deployment.

The Minister noted that the RDI Fund is part of a wider national ecosystem that includes missions in AI, semiconductors, quantum technologies, cyber-physical systems, MedTech, clean energy, and the reform-driven expansion of the space and nuclear sectors.

In closing, Dr. Jitendra Singh reiterated that India stands at the threshold of a deep-tech transformation powered by a confident, ambitious private sector.“If we move forward with courage, conviction, and trust, this will become a win-win model for industry, society, and the nation,”he said, urging stakeholders to seize the opportunity presented by the RDI Fund.