New Delhi [India], October 12 (ANI): The government's Research, Development and Innovation Fund (RDIF) has approved its first cohort of 19 second-level fund managers with a total commitment of Rs 7,131 crore, marking a key step towards mobilising private investment in research and development and emerging technologies.
The Empowered Group of Secretaries (EGoS), at its meeting held on October 8, approved 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs) under the Rs 1 lakh crore RDIF initiative, according to a press release by the Ministry of Science and Technology on Monday.
The approved fund managers will channel RDIF capital to eligible technology enterprises undertaking research, development and innovation activities at Technology Readiness Level (TRL) 4 and above. They are also expected to mobilise private capital equivalent to the RDIF contribution, potentially expanding the pool of funding available for technology development.
Launched in November 2025, the Rs 1 lakh crore Research, Development and Innovation Scheme aims to strengthen India's research and innovation ecosystem by providing long-term capital for high-risk, high-impact research and development projects. The initiative seeks to address financing gaps that have constrained private-sector investment in emerging and strategic technologies.
The RDIF is managed by an Independent Business Unit housed within the Anusandhan National Research Foundation (ANRF), under the Department of Science and Technology.
The first call for applications from prospective second-level fund managers was launched in January 2026. Applications underwent a multi-stage evaluation, including objective assessments and interactions with an Expert Advisory Committee, before being considered by the ANRF Executive Council and the EGoS.
The EGoS has also approved five additional technologies for coverage under the RDI Fund, further expanding its scope.
The government aims to use the fund to reduce dependence on imported technologies, strengthen technological self-reliance and support the development of globally competitive products. The scheme also seeks to encourage private-sector-led research and development through partnerships between public and private capital.
With the first cohort approved, the RDIF will continue inviting applications and onboarding additional groups of fund managers in the coming months, according to the release.
The expansion is expected to widen the reach of the fund and support further investment in India's research, development and innovation ecosystem. (ANI)
RDIF approves 19 fund managers with Rs 7,131 crore commitment to boost India's R&D ecosystem
