July 1, 2025 5:13 PM

Cabinet clears ₹1 lakh crore RDI Scheme to boost private sector-led innovation

In a move aimed at strengthening India’s research and innovation ecosystem, the Union Cabinet on Tuesday approved the Research Development and Innovation (RDI) Scheme, with a total outlay of ₹1 lakh crore. The scheme is designed to encourage greater private sector participation in research and innovation, particularly in strategic and sunrise sectors. The RDI Scheme seeks to provide long-term financing or refinancing to private companies at low or nil interest rates. Officials said the sche...