NEW DELHI: To support the commercialisation of indigenous technologies in sectors earlier dominated by the public domain, including space and nuclear, the Ministry of Science and Technology has announced long-term financing for private enterprises at concessional interest rates of 2–4 per cent, with tenures of up to 15 years.
The initiative was launched through the first Open Call of the Technology Development Board (TDB) under the Research, Development and Innovation (RDI) Fund of the Anusandhan National Research Foundation (ANRF). Union Minister Dr Jitendra Singh described it as a “rare and significant departure” from conventional government funding models.
The RDI Fund, with a total corpus of Rs 1 lakh crore, is aimed at providing long-term financing to private enterprises. The minister said the structure has been designed to ease access to capital for technology developers while maintaining financial discipline.
He noted that while governments have traditionally promoted philanthropy or CSR-led investments, direct government-backed financial support for private-sector innovation has remained limited. The RDI Fund, he said, seeks to bridge this gap by enabling private enterprises to scale technologies in sectors that were earlier largely confined to the public domain.
Dr Singh observed that the opening up of strategic areas such as space and nuclear sectors to private participation has altered long-standing conventions. The RDI Fund has been designed to support this transition by reducing financial risk while ensuring accountability. It offers long-term, affordable financing and includes equity-linked options to share risk, thereby facilitating responsible commercialisation.
Referring to the response to the first call, the minister said nearly 191 proposals have been received, with a significant majority coming from the private sector. This, he said, reflects growing confidence among private enterprises in the government’s commitment to innovation-led growth. He added that it was important to ensure applications align with the spirit of the scheme and that funding is used for genuine technology development and scale-up.
The funding framework provides for collateral-free financing, with no requirement for personal or corporate guarantees. Proposals will be evaluated on scientific, technological, financial and commercial merit, with defined timelines for appraisal and disbursement. The initiative does not offer grant funding and is focused on enabling sustainable commercial deployment of technologies.
The RDI Fund was approved by the Union Cabinet in July 2025 and launched by Prime Minister Narendra Modi in November 2025 as part of the government’s long-term vision to build indigenous technological capabilities and strengthen India’s innovation-led economy.