NEW DELHI: To support commercialisation of indigenous technologies in sectors previously dominated by government organisations, including space and nuclear, the ministry of science and technology announced to offer long-term financing to private enterprises at concessional interest rates of 2-4% with tenures up to 15 years.
Launching the initiative, 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 Jitendra Singh described it as a “rare and significant departure” from conventional government funding models. The RDI Fund, with a corpus of Rs 1 lakh crore, offers long-term financing to private enterprises.
He said the structure has been designed to make access to capital easier for technology developers while maintaining financial discipline. He observed that while governments have traditionally encouraged philanthropy or CSR-led investments, direct government-backed financial support to private sector innovation has been limited. Singh said the RDI Fund seeks to bridge this gap by enabling private enterprises to scale technologies in sectors that were earlier confined to the public domain.
The minister said the opening of strategic areas, such as space and nuclear sectors, for private participation has changed long-standing conventions, and the RDI Fund has been designed to support this transition by reducing financial risk while ensuring accountability. He said the fund provides long-term, affordable financing and includes equity-linked options to share risk, thereby supporting responsible commercialisation.
Referring to the response received under the first call, the minister said nearly 191 proposals have been received, with a majority coming from the private sector. “This response reflects growing confidence among private enterprises in the government’s commitment to support innovation-led growth,” he said. “It is important to ensure that applications are aligned with the spirit of the scheme and that funding is utilised for genuine technology development and scale-up,” he added.